For many businesses, the decision to offer online payment services is a life-changing event. By offering consumers the ability to pay for goods and services with a credit card or PayPal account, a business can receive millions of dollars in free marketing exposure. But what exactly do online payment services offer and how should a business sell them?
As any internet entrepreneur can tell you, payment services are all about free advertising. Consumers will pay more for items that can be instantly accessed and paid for using one of the many available methods. Merchants that offer free ecommerce solutions give consumers an instant and effective way to acquire the merchandise they want without having to leave their homes. They are truly a win-win solution.
Credit cards and PayPal accounts come equipped with a built-in chip that verifies the consumer’s home address and phone number, allowing for payments from anywhere in the world. This means a merchant will receive a credit card as a gift card from a client, and then they simply have to enter the customer’s billing information when making the sale.
Most merchant programs also require that the consumer’s household supply power to process the transaction. This eliminates the need for a merchant to have a physical infrastructure and ensures that a user’s payments can be processed immediately.
Ecommerce solutions also eliminate the need for a merchant to purchase a server or hire the technical staff to maintain the infrastructure. Instead, these services offer only the basic functionality, such as a login page, credit card processing capabilities, and customer service. Although the service may feature email support and customer service at no cost, the ecommerce provider takes care of all of the crucial technical requirements, ensuring all transactions are processed smoothly.
By offering online payment services, a merchant is able to create the “point-of-sale” environment they desire. If a customer needs assistance with a purchase, the merchant can offer a toll-free number or chat service so the customer can call the support line for help.
As an added benefit, online payment services can help a merchant to increase their revenues. A consumer can purchase online and make a payment with their credit card, which increases the value of the item being sold. Any income generated by the sale can be profitably reinvested back into the business, increasing profits through the power of free advertising.
For the internet merchant, the benefits of this online solution are more than financial. Merchants no longer have to spend millions of dollars building out a physical infrastructure just to offer payments to consumers.
An ideal online payment solution will allow the consumer to easily accept payments through a variety of online merchants, such as PayPal and Shopify. With all of the services included, merchants no longer have to worry about implementation or integration issues.
Ecommerce solutions offer another important benefit for the internet merchant: customers do not need a merchant account. Merchants have the option of issuing an automatic credit card payment through their website.
Consumers love the convenience of receiving a check directly from a merchant, and online payment services offer that same great experience. The ability to pay with a credit card is an amazing opportunity for merchants.
When considering offering online payment services, a business should consider adding a PayPal account to the mix. The convenience of accepting payments through your website makes the comparison of online payment options a no-brainer.