Payments are at the core of your business operations. Many business people experience problems with payments. For instance, customers could have trouble making payments or the business owner could experience challenges consolidating payments. Below is an extensive piece discussing innovative payment solutions that can help streamline your business operations.
In-store Payment Portal
An in-store payment portal allows you to track payments made to your business. Customers
pay via cards, digital wallets, mobiles, and banks. Many business people have trouble
tracking these payments. For instance, they might not know whether a customer’s payment is
processed.
In this case, they rely on the customer’s word, which is a risky business practice. An in-store
payment portal lists all payments made to your business, allowing you to verify whether a
customer has made the correct payment. The portal also eases your company’s dispute
resolution procedures. For instance, if a customer claims they overpaid, you can quickly
check their transaction to verify their claim.
An in-store payment portal also assists you with payment consolidation. For example, you
can tell the sales made on a specific date. It also enables you to establish what payment
modes your customers prefer. If they prefer mobile payments, you could include this in a
marketing message to attract new clients.
What considerations should you make when purchasing an in-store payment portal? As a
rule, the portal should have a user-friendly interface. You should not have to click many
pages to access a specific payment. The portal should also categorise the payments according
to your preferences.
How secure is the portal? The developer should pull all stops to protect the portal from
viruses and hacks. Moreover, they should regularly update the portal to incorporate new
features or improve its security. So the portal should be fast to ensure transactions appear
within seconds.
Payment Gateways
Many businesses have social media pages and websites with a catalogue of the products on
sale. However, they often struggle to convert these adverts into sales, especially if the
customer has to contact the sales department or visit the company’s store to make an order. In
many cases, customers lose interest in the product.
A payment gateway is an innovative product that allows clients to make purchases from your
website or social media page. The gateway reads a client’s credit card information, sends a
payment request to the customer’s bank and transfers the cash into your merchant account.
Simply put, it works like the PDQ machine at your point of sale, only that the transactions are
made online.
The primary benefit of payment gateways is that they guarantee a seamless shopping
experience. Once the customer inputs their credit card information, the transaction is
processed within a few seconds. The gateway is safe; hence, customers do not need to worry
if malicious individuals will use their credit card information.
Nevertheless, you should be cautious when integrating a payment gateway into your website.
For example, the gateway should accept payments from various sources. It should allow
customers to use all kinds of credit cards, and it should also integrate mobile and
cryptocurrency payments.
Before integrating payment gateways, you should assess the quality of services offered by the
provider. They should have 24/7 customer support to address any issues relating to the
payment gateway. Inquire about the transaction fees, and consider providers with reasonable
and flexible service charges.
In-store payment portals and payment gateways can easily resolve any payment issues that
your business experiences. At Tingg, we are your one-stop shop for all your payment-
processing needs. Contact us today and let us help you integrate various payment solutions to
guarantee your customers a seamless purchasing experience.
