No matter what type of business you have, you have competition. The Internet can be a true asset for your business, a tool that helps your business achieve success, or it can be the reason your business fails.
The fact is, savvy business owners are wise to what the Internet has to offer. Besides just having an online presence, they stay on top of new and developing online trends and strategies. This includes much more than simply using the web as a way to spread the word about a brand.
The web is used as a platform to set up a complete and functioning Internet storefront that accepts credit cards online. Businesses that don’t take advantage of this strategy are missing out on sales as well as increased promotional opportunities.
Consumers Appreciate the Convenience
Consumers of today are more demanding than ever before. Thanks to the Internet, they are smarter about the options available to them. And perhaps as a consequence of the current economic status, most consumers are very conscious of where and how their money is spent.
Consumers want and expect quality products at reasonable prices, and at the same time, they want convenience. Shopping online is a way to get all of that.
The Internet makes it possible for customers to quickly and easily do comparison shopping. With just a few clicks of the mouse a potential customer can visit several sites to compare products and prices.
This empowers consumers. It puts them in control in many ways. And not surprisingly, this is one of the reasons it is imperative that businesses step up to the plate when it comes to ensuring quality, value, and customer care. The facts are clear: If a business does not keep up, it will get left behind.
Era of the Consumer
This is the era of the consumer. Businesses are going back to the old-fashioned principles that are based on offering superior customer service and care. Merchants that excel in this area seem to find success in other areas as well.
People do not want their shopping to be controlled by the schedule of a storefront. Nowadays, even department stores are seeing their way to staying open later; some are even open 24 hours a day. The focus is on making things convenient for the customers.
Make Money Around the Clock
Shopping online offers built-in convenience for customers. After all, they can shop from home or from anyplace with Internet access. Online shops are open 24 hours a day, 365 days a year.
Because online storefronts are not restricted to the scheduled hours of a brick-and-mortar shop, the business can potentially make money around the clock. Clearly, businesses that are not accepting online payments are missing out on this growing market.
E-Commerce Spending on the Increase
According to comScore.com, a market research firm, Black Friday (November 23, 2012) topped $1 billion in e-commerce. Online shopping is much more than a fad; it is becoming the norm for many people.
Cost-Effective Recordkeeping Option
Whether the business is a retailer or it’s a business that offers offline services such as a daycare or a spa, accepting online payments will be a convenience for the business as well as for consumers. Consumers appreciate receiving automated transaction statements. It is an easy tracking system for them.
Online payments are a green option as well; they save paper, which saves the business money. In addition, online payments are an excellent way to streamline recordkeeping. As payments are received, the transactions are automatically entered into the database of a payment service.
Reliable Security
Over the years, the preferred method of payment for most people has become credit and debit cards. After all, checks take time to clear. That can cause recordkeeping difficulties for everyone concerned, and accepting checks can be risky for businesses.
On the other hand, credit card payments are immediate, and they come with built-in security checks. As the account information is entered, it is verified against the information registered with the credit card company.
This provides peace of mind for consumers and businesses alike. Consumers feel a sense of protection from identity theft, and businesses know they will be paid because the card is being used by the person registered as the card owner.
Time-Saving Benefits
After the initial setup of online payment processes, the business will enjoy numerous time-saving benefits. Besides the benefits already noted, the return on investment includes fewer trips to the
bank, less physical time required to sort and record payments, and automated payment reminders.
Accepting credit card payments will boost the sales of a business and provide other benefits. For example, when a business can accept quick payments, they can take advantage of online impulse buyers. Plus, credit card payments are incredibly handy for accepting payments from international customers.
Choosing a Credit Card Payment Option
When deciding on a credit card payment option, you do need to consider your particular business needs. For instance, consider if in addition to accepting payments at your website you also have the need to accept mobile payments.
Always explore what the payment company has to offer and carefully investigate all associated fees and charges. Some companies charge monthly fees as well as charges per transaction.
Be sure to make a list of questions you have about the services offered. Take the time to inquire about your questions and concerns. This will give you a chance to evaluate the customer service you can expect to receive from the company. Excellent customer support is essential when so much depends on this type of service.
The Bottom Line
Do a little research into the company’s online reputation to ensure the business is recognized for quality and high standards. It is often wise to choose a company that is a well-known brand – one that has been in business for a period of time.
As long as you take care in choosing a reputable credit card payment company, you are sure to be happy with the results. Because the bottom line is, no matter what kind of business you have, it can benefit from accepting online payments.
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Debbie Allen is a seasoned content writer and blogger who specializes in topics of interest to women and online marketing strategies, including the importance of accepting credit cards online.