Top 10 benefits of Accepting payments Online

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Top 10 Business Advantages of Receiving Payments
Online
(Source-Invoicera) Across industries irrespective
of niche, uninterrupted coordination and
communication are critical for achieving goals.
But, small businesses no matter how hard they
try, are somewhere incapable of maintaining
required coordination and communication (in any
manner) successfully. In order to positively
find solutions it is important to recognize these
challenges in the very first step.
Businesses,nowadays regardless of the industry or
size of business theyre in, are inclined
towards accepting payments online. Thanks to the
instant, as well as, long term overall
advantages. Also due to Covid-19 outbreak, the
scenario has changed. Moreover, there has been a
tremendous rise in the adoption of online
payments since the use of smartphones has
increased. Statista, in one of its reports, has
predicted online transactions will reach USD
4,769,370m by the end of the year 2020. And,
later an increase of 15 YoY is expected to be
witnessed. With businesses becoming global and
aiming to capture the multi country markets, it
is important to abide by consumer behaviour
across. With changing boundaries, purchasing
behaviours also change. But, a business has to
sustain every situation.
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For any business, maintaining high cash flow is a
topmost priority. Keeping that in mind, most of
the companies are opening their doors to the
world of payment online. Online invoice payment
helps companies save time, are faster and save
maximum efforts for the clients not to forget
the social distancing going on nowadays.. It also
helps in reducing excessive costs involved in
physical transactions. By having an online
invoice payment companies can give their clients
an option to pay from the variety of online
payment gateways around the world and make
invoicing a hassle-free process while also
enabling easy transaction tracking. It also
helps in reducing the significant amount of paper
invoices that will be printed and used to send
invoices which makes this process environmentally
friendly. Furthermore, no more hassle of waiting
for a check to show up, depositing it, and then
waiting for the funds to clear and going to the
bank. Collecting funds through online invoice
payment is not as difficult as you may think,
which is why it has been adopted by companies in
a major way. Here are 10 business advantages
that you may get after implementing online
invoice payment to your business. 1) Instant
Payment
Online payments facilitate instant payments for
an organization. It breaks the geographical
restrictions and let customers purchase even
without physical presence. One can easily make a
payment sitting comfortably at home or office.
The gateway to
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accept payment online provides the instant
notification of the transaction that makes the
customer remain assured of the purchased items.
2) Quick Easy Setup to Facilitate More
Sales Setting up an option to receive online
payment is easy and quick to start selling
minutes after implementing it. Moreover, there
are many service providers available today that
offer affordable plans with zero setup fee and
very low transaction rates.
3) Reliable Mode of Payments for Global
Merchants An online invoice software with
features to receive online payment is more secure
and credible for merchants than receiving
payments through cheques. A merchant instantly
receives the money with no risk of bounced
cheques and the fees associated with it.
4) Induces More Trust in Customers Customers
today often consider those merchants more
reliable that accept payment online through
their site. It encourages them to do business
with the merchant. At the same time, online
invoice payment offers the consumer with the
fraud protection that secures their money if
they dont receive the product purchased online
through a website.
5) Adds Convenience to Recurring Payments If
you are offering some subscription-based services
where your users/customers need to make payments
after a certain period of time, the option to
receive online payment could be more suitable
for you. Instead of sending them reminders every
time and requesting to send cheques for the
payment, you can automatically collect payments
after the end of the subscription term.
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6) Credit Cards to Facilitates Low Balance
Purchases Customers can use their credit cards
to make payments, even though they dont have
money in their bank account. More importantly,
you can break down the payment into several
instalments, if you are selling expensive items.
And one can use credit cards to pay for the
purchases in instalments.
7) Boost Referral Marketing with Online Payment
Vouchers If you have an online invoice payment
system in place, you can create an affiliate
program where your affiliates can earn referral
commissions by sending buyers to you. This will
boost your sales and can find an affiliate
network, working to increase your revenue.
8) Getting a competitive edge For a merchant,
an option to receive online payment,can improve
reputation allowing it to gain the trust of the
customers. Moreover, when others have online
payment systems, you cannot afford to ask for
payments via cheques as your strategies will
significantly sound obsolete.
9) Influences impulse buyers An online invoice
payment method may influence customers to
purchase items listed on the website. Since the
transaction is quick and easy, and one can pay
via credit cards, buyers are more likely to grab
the deal, if there is an online payment system in
place.
10) More Sales with Last-minute deals Many
times, merchants throw cost-saving deals to lure
customers. If you can receive online payment on
your site, a customer can grab a deal even at the
last minute. This will increase sales.
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ACCEPT PAYMENTS INSTANTLY INVOICERA Invoicera is
an online invoicing software that integrates into
your current ERP and CRM and automates your
entire invoicing and payments process. It
supports 30 payment gateway solutions that are
right for your business. A list of payment
gateways that are integrated with online invoice
software Integration with International Payment
Gateways (Forte, PayGate, SagePay, Eway, Ogone,
BluePay, Network, 2checkout, Braintree,
Authorize.Net, Stripe, PayPal, Moneybookers,
iTransact, Setcom, paymate, VCS,
creditcall). Integration with US/Canada Payment
Gateways (Alipay, FirstData, Psigate,
Beanstream, Moneris). Integration with Indian
Payment Gateways (Paypal, Payoneer, Razorpay,
Paydollar, Citrus, PayU India, EBS,
Asiapay). With artificial intelligence and smart
integrations and interface, know your cash flow
in the local currency, automatic conversions to
track currency gains for better business
decisions. Record and amalgamate offline payments
with online payments. A complete set up to help
you understand your business with useful payment
reports.
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