No matter the shape and size of your business, you need to ensure that your customers can make payments quickly and easily online. According to the latest data, cash transactions have dropped to a record low of just 30% of all transactions in the US in 2021, a number that is expected to fall further in the months ahead.
A growing share of all payments is completed digitally, with customers from all walks of life now expecting this as the norm from the businesses they choose to patronize. In order to avoid getting left behind, you need to know how to take payments online. Fortunately, doing so is easier than ever before. Here are five payment providers that you can instantly start using to facilitate digital payments for your customers.
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1. Wind River Financial
When choosing payment gateway providers, you need a solution that will give your customers a wide range of options for payment and that will guarantee totally airtight security. This is something that Wind River Financial, a registered ISO of Wells Fargo, can deliver. Their simple payment platform allows small business owners to facilitate instant and secure online payments for all types of customers, anywhere in America.
Stripe is a tech-savvy solution for small business owners that are looking for payment service providers that offer good value for money. Their “only pay for what you use” service means that business owners are charged a flat rate of 2.9% per transaction plus a 30 cents processing fee. Although this is a little higher than some competitors, the total absence of fees means you tend to save overall. In addition, Stripe accepts dozens of currencies and allows customers to pay in crypto.
Braintree is owned by PayPal and is one of the world’s top P2P payment providers. Their system is designed to bring all of the popular digital payment apps under one roof. This means that, when businesses opt for Braintree, customers can instantly pay via Apple Pay, PayPal, Cash-App, and just about any other available payment providers you can think of.
Alipay is one of the largest digital payment gateways in the world, with over one billion active users and millions of corporate customers. Originally geared towards the Asian market, Alipay is growing fast in the US and virtually every other region in the world. Part of its popularity is its simplicity – customers only need to scan a QR code on your site or place of business to make an instant payment.
Venmo is a mostly free service that small businesses can use to instantly process payments and request payments from customers anywhere in the world. Payments are instant and can be made via any mobile device. Venmo transactions are largely free of cost, apart from a flat 3% fee charged on all credit card transactions.
Now That You Know How to Take Payments Online…
Now that you know how to take payments online, you can start to build a durable and sustainable business. For this, we have got you covered. Make sure to consult our expert Business guides to learn more.