If you run an online business, you may be considering which payment methods may be suitable for your customers. Predominantly, customers are most interested in ease of use from adding the items to their basket to checking out. Technology plays a major role in our lives and has benefited businesses thanks to the opportunities it can deliver; and especially in regard to how items are paid for.
Now that more and more businesses are deciding to move online, it has never been more important to consider payment options as a priority within their strategy – it gives customers from anywhere in the world to buy products without delay or difficulty. This is similar to trading, in the sense that anyone, anywhere can get involved in the financial market easily buy using apps, software and online resources like CityIndex introduction to spread betting.
When it comes to solutions in the ecommerce and online shopping sphere, the development has accelerated in the same way. We have looked at some of the payment solutions that have become popular in the last few years thanks to technology for small and large businesses:
1. Worldpay Online
Worldpay Online is one of the most trusted and most popular payment options for businesses around the world. It allows payments of 16 currencies and provides a gateway to protect both your business and customers from fraudulent activity. As a business owner, you’ll also benefit from the platform with the use of the online dashboard to manage card sales and invoices which ultimately, keeps your finances in check. However, do be aware that it is a little more expensive than other payment platforms – it charges 2.75% + 20p transaction fee.
PayPal is used by almost 7 million businesses around the globe and over the years, customers have gained trust in the platform when purchasing on a website. PayPal accepts payments of 25 currencies, which is ideal if your business has premises in different locations around the world. You will, however, be charged 2.9 percent plus 30p per transaction. There are many benefits to PayPal as follows:
- Customers can pay you quickly and directly with their own PayPal account
- PayPal is mobile optimised allowing for better customer experience
- Features scam security
- Accepts transnational payments
If you’re looking for a one-solution-does-all, then Square could be the perfect choice for you. This platform even allows business owners to create their own website free-of-charge, which is valuable if you have not yet started an online presence. It is paired with popular web-building platforms such as Wix, Weebly and GoDaddy to get you started selling your products online to customers.
One of the major benefits of using Square is that it won’t redirect the customer to a separate site to make a payment – the transactions will be carried out from your own website, so you can keep track of your finances without hassle. Square charges a 2.5% transaction fee.
Shopify’s ecommerce platform is ideal for those who wish to experiment with their creative side – and offers everything you need to build your online business presence from scratch. You have the freedom to construct your own platform to show off your products to your audience. Although this isn’t the cheapest option on the list with a basic 2.2% + 20p rate, it is arguably the most ideal for individuals who are looking for a quick and easy way to start an online business. It also offers a generous 14-day trial with no upfront payment.