Over the last few years, the transformation in the online business industry has been remarkable. Brick-and-mortar shops began transitioning to smaller screens, and internet coverage became a necessity rather than a privilege. Online payment took over as a major payment medium in the business ecosystem. In this atmosphere, online payments can be utilized to boost business revenues and image. This blog provides a list of all how businesses can get a benefit out of online payments.
- Supporting Multiple Devices
An online business is all about the website infrastructure that it works on. Customers would interact with it using only the website and in such a scenario, providing a consistent user experience to the customers across devices of different screen sizes like mobile phones, laptops, and desktops. With online payment gateways supporting all the other devices, businesses can cater to all types of customers, irrespective of which device they are in.
- Customer Satisfaction
Customer satisfaction plays a pivotal role when it comes to boosting a business. This is because the scaling up of the business is possible only if more customers are attracted and retained by the company. It is very convenient to pay using an online system which can help enterprises to offer more contentment to the customers. It can also lead to impulse purchases from the customers. The best online payment gateway that provides a frictionless payment experience to its customers is Zaakpay.
- Accept through Any Payment Mode
While payment options in the traditional medium are pretty limited, the online sphere has an abundance of them. Credit cards, debit cards, UPI, mobile wallets, and net banking are the most common ones. Online payment is an opportunity for the business to target customers irrespective of which payment mode is preferable. Depending on the gateway system, the number of payment modes accepted can be as huge as more than 100, as is in the case of Zaakpay. This can boost the business owing to the vast customer base the business can now target.
- Instant Notifications
A significant advantage of online payment is the prompt confirmation associated with them. The moment the payment is processed, a notification comes up on the page acknowledging the same. It can also be automated to send notifications through SMS or emails. This can increase the customers’ reliability in the business and can be a step towards retaining them.
- Instant Customer Support
A payment failure once in a while is inevitable. What can be avoided, though, is an angry customer as a result of this. Suppose the customer is given access to a customer support facility that is open throughout the day and night to solve any payment-related queries of the customers. In that case, payment failures won’t bug them a lot. This can give a boost to the business by eliminating any customer dissatisfaction due to technical glitches. Businesses won’t also lose out on money due to errors. Zaakpay is one of the best payment gateways with 99.9% uptime and 24/7 customer support for resolving any queries.
- Improve Security
Customer security is crucial to any business. A cyber-attack compromises the safety of not only the customers but also the merchant. With online payment, businesses can provide absolute security by tokenization or encryption processes. It involves converting the data into random forms to protect against cyber-attacks. By relying on online payments, merchants can get rid of worrying about safety. Choosing gateways with PCI DSS and SSL certifications can further improve the security of online payments. Merchants can also opt for additional protection through two-factor authentication or OTP.
- Reduces Expenditure
Online payment solutions can considerably bring down business expenditure. This leaves more cash for spending on other relevant issues. There are also administrative costs for accounting which can be reduced by fitting the automated data directly into the accounting software. The expenditure involved in pay-on-delivery can also be eliminated with this. Moreover, dummy orders are no longer a problem with online payments.
- Customers from across India
Customers from anywhere in India can make a purchase and pay through an online medium. It doesn’t matter in which city or town they are in. They can make the payment as long as they have internet connectivity. This makes the business more open to customers, and literally, anyone in the country can place an order—the scope of making higher profits increases as a result of this. The best online payment gateway service that enables businesses to reach out to customers is Zaakpay.
- Low Cost
Payment gateways or links are quite inexpensive when compared to the benefit they bring in. Usually, there is a set-up charge and a maintenance charge which is monthly or quarterly, or annual. Additionally, there is a nominal transaction charge. The charges generally depend upon the type of business, the estimated volume of regular transactions, and other factors. Overall, the cost isn’t too high for any kind of business. In the affordable category of gateways, Zaakpay is the market leader.
- Payment Links
If the business does not have a website and integrating a gateway isn’t possible payment links come to the rescue of the merchants. It is a URL that functions as a gateway enabling digital payment.
Online payments can give a much-needed boost to the business. When every other customer is dependent on a credit card or a UPI application, enterprises that fail to understand the market situation are sure to have a tough time later. Zaakpay is the best online payment platform for businesses to boost themselves.
Angelique Chrisafis is the Guardian’s Paris correspondent. She is responsible for churning out quality articles based on her research while keeping an eye on the tech world. She likes technology, gadgets, and food. Works as an individual contributor to the team.