Is Accepting Payments Online better than other alternative collections?

Instant Gratification

For the customer, instant gratification is the primary motivation for shopping online. Online payment enables a customer to pay for a product immediately, confident that it will ship quickly. If a customer mails his payment, he must wait for you to receive it and for the funds to clear, adding greatly to the amount of time that he waits for the product. Faced with this delay, a prospective customer is likely to look for a merchant who accepts online payments.

Merchant Security

When a customer pays for a product online, the customer’s payment method is authorized and the money is placed in the business account immediately. This eliminates some financial risk on your part, as you no longer need to worry about the fees associated with bounced checks.

Consumer Confidence

A potential customer may be slightly nervous about the prospect of purchasing from you if he has no prior experience with your company — especially if he has had problems with online purchases in the past. The fraud protection that many debit and credit card providers offer may alleviate his concerns, as he will know that he can make a claim with his bank if he does not receive the product or service he purchased.

Recurring Payments

Accepting payments online removes the difficulty associated with making recurring payments via check or money order. If you have a subscription-based service, you can store customers’ payment information and collect payments automatically each subscription term rather than sending reminders that payments are due.

Paying With Credit

For a customer to pay for a product via check or money order, he must have the funds available to pay for the item in full immediately. Credit cards allow consumers to pay for large items in installments; accepting payments online can dramatically increase your sales if some of the products you sell are costly.

Affiliate Marketing

Accepting payments online allows your business to launch an affiliate program. With an affiliate program, online publishers can earn money by referring customers to you in exchange for a portion of the revenue when sales are made. Although an affiliate program can cause a slight reduction in profits, it can also greatly increase sales.

Avoid offline transaction risk and make fulfilment more efficient.

Offline cash payment may incur robbery or related hazard since it’s cash involved and usually takes time to count payment and likely takes time to find enough changes.  Therefore if item is prepaid, the rider can finish the delivery within seconds for one parcel thus more efficient.  Data suggests that one rider can delivery 30 parcels a day if the item is prepaid while only 20-25 if item is cash on delivery.

Customer can save better.

Pay on delivery orders usually have a 25 % return rate which give seller extra costs for messeaure the high return cost.  Therefore Online payment helps seller bring down the price and customer can actually experience cheap service and product.

More friendly for corporate purchase control.

Online payment gives you instant invoice thus it is easier for record keeping and administration control purpose.

Register now to enjoy your preminum payment solutions.