It’s been a tough few years for businesses of all sorts. Many brick-and-mortar operations simply did not survive the pandemic, and some are barely hanging on, hoping that a full reopening and the return of “business as usual” will bring them back to health.
On the other hand, businesses that had a healthy internet presence before the pandemic, or developed one during the closures, fared quite well. Especially if their website was high quality, easy to navigate, and included all the bells and whistles needed for customers to make easy transactions. A well-functioning website payment gateway was one of those necessary tools, and companies with one had an advantage throughout the last two years.
Having a secure and flexible payment gateway could mean the difference between a booming business and one bust. Both you and your customers want payment options that can reduce the headaches of collecting money. A reliable website payment gateway can also improve your business in several different ways.
Ease of use for your customers
If your customers want to make a purchase, they want the checkout process to be quick and easy. These days, one or two steps from the time you click the checkout button to the end of the transaction should be sufficient. So, if you’ve got a solid, easy-to-use payment gateway, your customers will avoid frustration, be happy with the experience, and likely return to your site again. If your payment options are complicated and frustrating, they might abandon their cart and go elsewhere. Consider a payment gateway that also securely stores card information for return customers, which offers a checkout process that’s both easier and faster.
Save time chasing money
With bank or EFT transfers and other forms of payment, you – the merchant – need to wait for approvals and for funds to reach your bank account, which can sometimes take up to a week. These archaic payment methods also create frustration and confusion for customers, who aren’t sure when money is coming out of their account and when they’ll eventually receive their merchandise. With a secure payment gateway on your website, the payment is processed immediately and generally settles within 48 hours.
Improved cash flow from Website Payment Gateway
Payment gateways can help increase your sales, period. Marketing research has proven that an easy payment option means more completed sales and fewer abandoned shopping carts. When you’ve simplified the payment process, you motivate customers to buy from you; hence, delays are few, and the cash keeps flowing. You’ve created the perfect customer journey! Some platforms even allow you to engage in cash flow forecasting, which is ideal when planning future marketing costs and other expenditures.
Secure processing
There are plenty of individuals who are still fearful of making purchases online. This is especially true of the older generation, which doesn’t trust technology quite as much as younger folks. So, having a secure payment gateway is essential to keeping customers. Card details remain secure, and hackers are kept at bay. Customers can buy with confidence, whether they’re doing so from a computer or a mobile device. So, be sure the payment gateway you use complies with safety and security laws concerning internet purchasing.
Attract international customers with Website Payment Gateway
When you put up an eCommerce site on the internet, it reaches much further than your local area. The entire world has access to your site. If you’re amenable to dealing with international customers, having a reliable and secure website payment gateway is an ideal way to garner new patrons from all over the globe. If this interests you, make sure your gateway can accept international payments with as little hassle as it would accept Canadian or US dollars.
A secure, reliable payment gateway could be the key to increasing your business exponentially. If you’re considering this for the first time or planning on upgrading from payment options that are more difficult to use, talk to the experts at Watershed9 about your choices. We can guide you to a gateway that fits your eCommerce needs and helps you keep business moving, even when times get tough. For more information, call us at 604-337-1449 or fill out our contact form.