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Crucial Benefits of Online Payments for Your Business

Almost all of us would agree that the ultimate goal of the supply and demand rule is profit. It is very essential to keep the business afloat and competitive in the market. But to gain profit, you have to get paid first; and here is where things get rather knotty. For small businesses, payments collection is almost close to a nightmare. This is because everyone wants to buy with credit, but paying when that credit expires paying up seems to be hard to do. Read through this post to explore the benefits of partnering with payment processing companies to your business.

Why Partner with Payment Processing Companies?

You, as a business owner, know the drill. Send out the invoice, with your payment terms, to your customer (whether printed or email) and wait for them to advise you of their payment. But what if your long-awaited notification of payment never comes and, even worse, you end up chasing your customers around to pay you. This course can cost your business a quite amount of money. Expenses on telephone bills, expense on gas, expense in the sense of wasted time and efforts. Then, you will realize how all of these can hamper your daily operations, disrupt your cash flow, and waste your valuable time that could be better spent on your actual business. This is where the internet can be a powerful tool. It can help streamline your processes and improve your cash flow to serve you.

Furthermore, the internet can help you accept payments online securely, fast, and easy! The advantages of online payments for your business are unparalleled. The benefits it offers to your customers are great too. So, in the end, it’s a win-win situation for you and your valued customers!

Benefits of Online Payments

1. Effortless configuration

Nowadays, online payment systems can easily be integrated into your business software and workflow. And believe it, the integration procedure is more or less the same for every online payment provider. The registration process is quick. You just have to register your company for an account online, less a ton of required paperwork. Afterward, you can start accepting payments online within a few minutes!

2. Competitive pricing for business

Most online payment processing companies offer zero setup fees and lower transaction fees than e-banking systems. Some online payment gateways even have a minimum amount per year with a free transaction fee. Several online payment providers also provide discounts when you reach over a certain amount of payments. Hence, your cost remains low even when business is going well.

3. Superb customer experience

As noted earlier, the gains of processing online payments for your business extend to your customers as well. Your customers will certainly appreciate you having an online payment option to process their purchases online. This can be especially beneficial if you are a freelancer catering service to companies or even individuals. In both cases, offering your customers the ability to pay you with credit or debit cards online is a guaranteed lead. Imagine saving them from facing all the hassles of doing all the work themselves via the banking system, or worse, in person with cash. In using online payment systems, you give your clients a completely secure and easy to navigate an environment where they can pay off their outstanding invoices easy and convenient.

4. Secured payments

Perhaps for some reason, you will find this statement a bit nonsensical because of all the bad publicities we have heard about online payments. But many experts will attest and assure you that one of the most crucial benefits of online payments for your business is that your and your clients’ money is safe. Stringent regulatory boards obliged online payment gateways to implement multiple security layers for transactions so that the clients’ card details are not stolen. Thus, your money is transferred to your account securely. You even get notified for payments automatically via email, so you can do your cross-checking.

5. Speedy transactions clearing

Security is clearly a big deal, but getting your money on time is as crucial to your cash flow. Online payment processing companies understand that needs. Hence, online payments are usually cleared in one or two working days, depending on the traffic. Τhis way, owners can have a better assessment of their liquidity and accurately plan their next business moves.

6. Easy subscriptions management

Forget the hassles of payment reminders and let the online payments system do the work for you! Online payment systems offer a recurring billing option that automates the entire procedure for collecting subscription payments on time. This feature doesn’t even require any repeated action on your customers’ end.

7. Take advantage of impulse buyers

Among the many advantages of the online payment system for e-commerce is that shoppers are fascinated to purchase if they can pay in an instant. Accepting credit cards then can give you a huge benefit. It boosts your revenues without having to deal with the actual billing process yourself.

8. Acceptance of mobile payments

As long as there is an active internet connection, online payments can be processed even via your mobile devices easily and from anywhere. Also, you have to take note that shoppers increasingly use their phones to buying items online; hence, you have to keep your process as simple as possible. Online payment providers offer simple and easy-to-navigate interfaces for exceptional customer experience. Possibly, the rise of modern, user-friendly payment gateways is one of the major rewards of online payment.

9. Customers are now comfortable with online shopping

It has been a lengthy and challenging process before customers got a full grasp of how the internet, especially processing credit card payments online, is safe. Essentially, your credibility as a merchant can be questioned if you lack this payment option, particularly if you run your business online. Hence, be smart and integrate an online payment system for your business’s integrity and authority.

10. Customization of the payment to your workflow

Online payment processing companies offer customizable APIs and plug-ins with popular third-party applications. This enables you to tailor the billing process to your needs and develop an online payment system that restructures operations to your advantage.

There are numerous advantages of accepting payments online for your business, regardless of its size and industry. Likewise, the significance of online payment systems is evident since several businesses will not stay afloat without accepting payments online. In fact, you just cannot consider your business modern and competitive if you don’t include online payments as an option for your customers. Hence, improve your customer shopping experience and boost your sales by having the ability to accept both cash and cashless payments. Let CloudBanking’s innovative solutions for your industry power your store e’s payment processing ability. Experience smarter, revolutionary payment solutions for your unique business needs. Contact us now.

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ACCOUNTING SERVICES

Run fast, accurate, and automated accounting processes through Cloud Banking’s white label portal for accountants. Simply ask your customers to log on to your dashboard so you can download all their statements and reports—making it easier for you to do their taxes. Likewise, you can make sure that our platform can help you streamline everything from financial consolidation to compliance reporting and audits.

 

Our innovative payment solutions can easily be integrated into your existing accounting, invoicing, and billing software so you can get paid faster and more secure. Interested? Start by talking to one of our business specialists today.

HIGH RISK

Are you in the high-risk vertical market? Getting tired of looking for a reliable payment solution for high-risk industry? Don’t worry! CloudBanking got you covered.

We understand that banks and low-risk providers may instantly turn down merchant accounts who they deem industries with a history of high chargebacks, irregular high ticket sales, or that are highly regulated. Thus, finding a high-risk payment processing solution that keeps high-risk businesses running efficiently might be a daunting, frustrating process. This is all the more true for the CBD oil industry. However, CloudBanking understands that your business model works for you. We believe in your business’ desire to help the community and we’re committed to providing top-rated services.

Thus, we go the extra mile to ensure your business’ security and efficient cash flow. We provide tailored solutions and features because we understand your unique needs. You can now offer your customers a smooth and seamless journey with our innovative payment solution for high-risk industry.

HEALTH AND WELLNESS

Focus on what matters most to your business—your customers. And allow CloudBanking to take care of your payments. Our payment solution for health and wellness industry will be your trusted partner in improving your customer experience. With our innovative platform engineered to accept all kinds of payments and provide the security you need; we can guarantee you streamlined business operation.

 

In the ever-changing global marketplace, make your business at the forefront of innovation to give your customers the best customer experience. Trust that our payment solution for health and wellness is here to help you meet your customers’ expectations while improving your cash flow. Contact us today to experience the difference.

FIELD SERVICES

Are you one of the small or mid-sized businesses in the field service industry having trouble collecting payments? And are you tired of all the waiting and hassles? Then, it’s time for you to adopt a phone- and cloud-based payment solution for field services that will improve your cash flow and accuracy. Allow your field services staff to accept payment on-site so they can focus on the next job.

 

Level up in the game field by offering a cutting-edge payment solution for field services that will assist you in meeting your needs and improving your bottom line. Contact us to know how we can be your trusted partner in getting paid faster and secure.

RETAIL

The retail environment has evolved rapidly in the past years. To keep with the pace and increase your bottom line, you need to integrate a platform providing a full suite of card payment systems that fully satisfies the needs of you and your customers. CloudBanking’s payment solution for retail industry is here to help you stay in the game and be more competitive.

 

Powered with the latest technology, our credit card processing solutions allow retailers to accept any form of card payments such as credit cards, debit cards, and EMV-compliant cards. Our payment solution for retail industry can help you effortlessly manage your point-of-sale transactions while you boost your retail sales.

PROFESSIONAL

CloudBanking offers a customized payment solution for professional services companies, such as law firms, insurance agencies, and accounting firms. Our platform is designed to provide you a safe, convenient, and secure way to accept your service fees and lessen the administrative cost related to payment processing.

 

We understand that your business’ payment processing needs are unique. So you can’t just rely on any payment processing platform to manage your cash flow. You need a trusted partner to receive payments fast, secure, and easy. Enjoy this hassle-free process when you integrate our payment solution for the professional services industry.