Businesses need to accept payments online to stay competitive but that’s just one small piece of the puzzle. Consumers demand that buyer experiences should happen in a diverse global tapestry that defies one-size-fits-all solutions.
Today’s tech-savvy consumers are moving to convenient payment options such as POS financing, debit and credit cards, BNPL, and credit-funded digital wallets to disrupt legacy payment value chains. Businesses that continue to resist the shift toward digital payments are unknowingly leaving money on the table. Furthermore, these businesses risk alienating a substantial portion of their customer base.
Interestingly, a majority of white-label payment processing providers are offering customer-centric merchant payment services and payment platforms for small businesses. A business can leverage a merchant account for small businesses to avail of the best payment gateway to accept credit card payments.
Benefits of accepting digital payments
One of the biggest benefits of accepting digital payments such as credit cards is the ease of doing business that delights consumers while making purchases. They don’t have to worry about carrying cash at all times and everywhere.
Gone are the days when consumers used to carry heavy wallets. Today’s tech-savvy customers prefer the speed and convenience of swiping or tapping a credit card over traditional payment methods. Also, consumers are more likely to engage in impulse purchases when using credit cards, as the perceived barrier to spending is lower. Businesses like yours can capitalize on this opportunity by offering a secure, frictionless, and seamless credit card payment process to accept credit card payments, ultimately increasing transaction volumes.
How to Accept Credit Card Payments Online?
To accept credit card payments online, you will require a payment gateway that allows your customers to share their credit card information with your payment processor in a secure environment. For instance, when you checkout from a Shopify shopping cart, that’s a payment gateway. Similarly, when you see a PayPal button on a website, that’s also a payment gateway.
To get started, you’ll have to opt for a merchant account for small businesses and access white-label payment processing or merchant payment services to accept credit card payments. You can leverage these payment platforms for small businesses to allow your customers to make payments directly from your website. If you want to accept credit card payments in person, you can opt for a mobile card reader, point-of-sale (POS) system, card reader or terminal, or QR code.