Accepting Payments Online Gives Your Business an Edge
Consider the benefits of an all-in-one e-commerce solution that allows your business to generate invoices, accept payments online and manage receivables with a CRM system.
Consumers are making more online payments than ever before, and businesses have been moving fast to roll out online payments and upgrade digital systems to meet the demand. Perhaps your business is doing more business online or changing how you handle transactions to meet customer needs. Moving to an all-in-one e-commerce solution allows you to generate invoices, accept payments online and manage receivables with a built-in customer relationship management (CRM) system.
Advantages of e-invoicing and payments
Here are six reasons to implement e-invoicing and online payment methods for customers:
- Customer convenience. Many consumers prefer digital methods of payment. Having a platform to accept credit card and mobile payments provides customers with the convenience they want. Accept credit card, gift card, ACH and e-check payments online, by phone and through mobile card readers.
- Online sales volume. Online payment options are essential if you’re doing business online. Whether your business needs a reliable solution to start accepting payments online or you need help handling a higher volume of online transactions, getting the right systems in place can streamline your online payments.
- Accelerate cash flow. Decrease the days’ sales outstanding with a streamlined process. You get paid in days — not weeks — when customers pay with plastic. Credit card transactions typically clear within one to three business days, whereas check payments can take several days to be credited to your account. Sending out invoices for payment by check or ACH adds another 30 to 90 days to the timeframe before you get paid.
- Impulse buying. When customers can make a purchase instantly, they’re more likely to follow through with the transaction. The easier you make it for customers to buy, the more likely they are to return for additional purchases. When it comes to big-ticket items, customers may be more likely to buy if they can spread out payments over several months with a credit card.
- Save time and money. With electronic invoicing, you can send out convenient click-to-pay invoices that eliminate the need to manually generate invoices or track outstanding receivables. You’ll also reduce the costs for paper, envelopes and postage.
- Fewer late payments or bounced checks. When you accept digital payments, you don’t have to worry about the costs and hassle of dealing with bad checks. With an integrated payment solution, you have multilayered coverage that helps protect your customer transaction data as well as your software and hardware.
Ready to upgrade your systems? Consider advanced payment acceptance to increase sales and provide insights into your business. Contact a business banker at Amegy Bank to learn more about merchant services designed to boost your business’ success.