Being able to receive online payments is a priority for businesses of all sizes. Small and hyper local businesses are no exception. You must be able to receive online payments even if you don’t have a website. There are endless possibilities with modern payment gateways such as PayTabs. Make sure that your gateway has a built-in fraud protection system along with a 3DSecure layer.
Let’s discuss how a small business or a local store can choose a gateway.
Small Hyper Local Businesses
Many of the grocery stores and small store vendors in your locality need to collect payment digitally. Even if they are doing well and to be able to collect payments online is not their top priority but gradually people are moving towards a cashless economy. Every third customer these days wants to make payment through credit or debit cards.
You might be hurting your business prospects if you haven’t yet decided to install the Best Online Payment Gateway on your website. Another reason why most people prefer to make payment through cards is that international debit cards and credit cards offer reward points and cash back on the volume of purchase made through these cards.
Here are a few things every small business or store owner should keep in mind:
- You should allow your customers to pay through digital wallets.
- Apart from being able to receive through digital wallets, your payment solution provider should also arrange to allow you to accept payments through debit cards, credit cards in netbanking.
- The documentation process including the KYC should be easy and hassle-free and shouldn’t involve bumping your head against the wall.
- Make sure that you don’t have to hire an extra employee to look after your payment gateway; the entire process should be easy to understand and can be implemented even by a layman.
- Make sure that it doesn’t require advanced technical knowledge.
- As an established online brand (with more than 50 employees), you can go for traditional payment gateways but then the process to sign up is quite lengthy and complex. Proper documentation and verification is done before your application is approved.
- Since you are a brand and your sales volume are meant to be high, you should hire a permanent staffer to monitor your payment gateway integrations.
- As a brand you must include most of the popular payment methods in your website, so the customer can choose the mode that is convenient for them.
The idea is to provide your customer with all the options of payment, which are locally popular. It will increase loyalty and sales. Security is another most important aspect of online payments. If a customer can confidently, swiftly and securely make the payment, he is likely to come back to you again. If he experiences frequent transaction failures while making payment, he will think twice to buy from you. It’s as simple as that.