Keep your customers coming back with multiple payment options

The pandemic has forever changed the way consumers shop and pay for goods and services. In fact, nearly two-thirds (65%) of consumers say that post-vaccine they will increase their use of non-traditional payment methods, such as contactless payments, online or mobile payments. That means one thing for today’s businesses that do not yet offer multiple payment options: If they are to survive and remain relevant, the time to adopt them is now.

Of course, change of any kind is difficult; and changing processes that affect your business and financial livelihood can be scary. The good news is that consumers aren’t the only ones who benefit from payment trends like virtual terminals and mobile POS systems. By using these new technologies, businesses of all sizes can get paid faster and streamline operations.

If you’re not yet familiar with new payment options and how your business can leverage them, read on!

Payment Processing Options: A Primer

• An online payment page allows you to sell products and services on your website with a customized payment page and shopping cart, giving your customers easy payment options with credit, debit or ACH (Automated Clearing House).
• Mobile payment processing accepts payments for goods and services through your tablet or cell phone. It’s a convenient and secure way to expedite payment processing and can improve the customer experience by encrypting cardholder data. Mobile payment processing also enables you to accept EMV chip (the small square computer chips that appear on credit, debit and prepaid cards to help safeguard them against fraud), magstripe (the stripe on the back of a credit card) or signatures. Another, more recent mobile payment feature, which has gained increased popularity since the onset of the pandemic, leverages contactless payment systems where customers don’t have to hand over their card or even touch a payment terminal.
• Virtual terminals: This payment solution turns a computer into a credit card terminal—no special equipment is needed, so you can get paid anywhere. Once you log into a virtual terminal through any web browser, you can accept payments remotely or over the phone, process credit cards and ACH eCheck transactions, and even set up online reporting, recurring payments and invoicing.

Marry Payment Software with Your Existing Systems

The best payment processing software should integrate with your existing business management software to offer one unified solution through which you can protect revenue, simplify your business day-to-day – and delight customers.

Adding payment technology to management software streamlines internal operations by connecting sales and inventory to accounting and payroll, which reduces the need for manual data entry and eliminates related errors that can cost you time and money. Moreover, integrated payments simplify the user experience by providing a clear shopping path and a branded checkout — customers go to and stay on your website throughout the entire transaction.

Yes, the pandemic has forced us all to think and act differently about many facets of life, including how we shop and conduct transactions. As consumers have tried new payment options to get what they want, they’ve become accustomed to the convenience and now demand it. In fact, more than half of consumers say they would avoid businesses that don’t accept electronic payments of any kind.    

Don’t get left behind! Learn how Deluxe can simplify your payment process, help you save money, delight customers and grow your business.