The world (including your customers) is graduating from the slow moving world of offline, to the fast paced, eccentric realm that is the World Wide Web. And it isn’t just for ‘Facebooking’ or watching cat videos on YouTube, but also for everyday business and finances. The method of paying bills, shopping, and transferring money is rapidly changing, are you ready for the jump? Take a look at 4 reasons your business should accept online payments.
Your Customers Want It
We’ve already said it, and we’ll say it again; The shift to online is happening. It isn’t a fad. And it isn’t something you can hide form anymore. Customers not only want to pay for goods and services online, but except it. A study by IDC showed that 73.5% of American consumers now use online bill payments. With such a vast majority of consumers online, can you afford to continue without online payments?
It Saves You Money
According to ConnectedPlanet, businesses spend close to $35 billion (nearly $1,000 per business) in postage, paper and supplies for paper billing each and every year. Accepting online payments will eliminate these costs and give you the opportunity to pass these savings on to your product and customers. Not to mention the time value saved by switching to a more time efficient system (rather than counting coins).
It Makes You More Efficient
By allowing for online payments, it’s easy for your business to set up recurring billing and auto-pay for your customers. These tools will allow you to automatically bill customers for services instead of tracking, organizing and processing payments manually each month. The time saved can be reinvested into growing your business and customer base, a benefit everyone can be proud of.
It Increases Sales
There are many forms of online payments, one of which is driven by credit card processing and electronic payments. When given the option to use credit cards, customers spend up to 100% more! Online payments are fast, easy and allow for more impulse buying than check or cash. Give your customers the ability to spend more and they will do so.
If accepting online payments is something you want to do, give us a call! We would love to discuss the possibilities (which are endless). Already successful in paperless billing? Share your story and continue the conversation on Facebook and Twitter.