Having an online business is easier than ever before and with the advancements in online payment solutions your customers now have multiple options when completing transactions.
According to Helen Child, an expert in prepaid cards and payment systems, businesses failing to take advantage of modern payment methods are less likely to succeed in the online space.
However, with so many companies now offering a variety of payment solutions it can be difficult to sift through them all and find what’s best for your business. Helen Child has sorted through the systems currently available and has short listed four which are worth considering.
Stripe has only been around since 2010 but is already one of the most popular options for businesses of all sizes. It was a service built with developers in mind to ensure that you can experience a simple and easy to use system. It is a customisable service so you can change any aspect to suit your needs from storing card information to organising standing orders. Stripe accepts payments in over 100 currencies including Bitcoin. They currently charge 2.9% as well as a 30 cent charge on every transaction.
Checkout was also created in 2010 and has since become a global online financial technology company. It allows businesses to easily accept all major credit/debit cards in Europe, Asia Pacific and America. You use Checkout by integrating their coding into the html coding on your website which creates a built in payment system. It comes with standard billing features as well as user friendly add-ons such as real time analytics and fraud prevention/protection. They currently charge 2.95% and 0.15 or 0.22 on each transaction.
WorldPay is one of the leading payment service providers with their easy to use system and allowing customers to pay in their own currency internationally. They have 24 hour support teams on hand to ensure that your business is up and running, ready to take payments at any time. They currently have a flat monthly rate of $30 or pay as you go.
Due is a relatively new player created in 2015 but has been fast growing in the last year as a result of its quick and easy method of accepting and receiving payments. It is a great option for smaller businesses who need to receive payments faster to help their cash flow. Its easy online interface means you can control everything in one place, tracking payments and business analytics. They currently charge a 2.70% transaction fee.
By integrating any of these payment systems into your current business model you will begin to see instant growth and improve your chance of long term success.