Which Businesses Need Online Payment?

  • July 25, 2021

As the world evolves, businesses are looking to expand their payment options to online platforms. When you expand your business payment options, you provide more opportunities for your customers to pay in a manner that they are comfortable with- it might even increase your customer base within time. Hence, it is good to incorporate online payments in your business if it is compatible with your payment procedure.

Are you wondering if your business might require to have an online payment platform? If so, then this article will help you out immensely. This article will look at the businesses that need to have online payment options in their system. So if you would like to know more, follow along as we dive into this revolutionary topic.

Customers make payments in many different forms. They range from checks, cash on delivery, and using a card. However, none of them are as quick and easy as online payments.

There are many methods of online payment. Payit e-wallet is among the most popular ones. 

It is an online payment platform that offers its fully-featured payment services in the UAE. 

So now, let us take a look at some businesses that should consider incorporating online payments.

Businesses that Need Online Payment

With the growing popularity of online payment platforms, these businesses would thrive if they used online payment methods.

  1. Garments Stores that Sell Online:

E-commerce sales were estimated to grow by an average of 20% per year between 2018 and 2022. As a result, the clothing industry in the region is flooded by people who want to purchase goods online. However, no customer wants to buy clothes online and then walk up to the store to pay for them. Hence an online payment method is quite efficient in this case.

The customer can order clothes online, pay for the clothes, and then you deliver the clothes to them. You can include the transportation fee if the distance is too long. It is a great way to utilize online payment methods to sell your stock and improve your customer base.

Online payment methods like what Payit provides for their merchants are efficient. The app. also allows you to track payments, hence ensures that each customer paid for their goods before delivery. 

This feature is also efficient since you can track down expenses in case of a purchase return. You do not have to go through the stress of checking books for receipts to return the cash. All you need to do is search for the purchase in your online payment app, and the transaction is tracked down for you.

Payit provides a flat fee transaction cost for transactions such as paying for goods in garments’ stores. Hence, if you are in the UAE, you can use this application for your garments’ online store business and enjoy a flat fee for your business transactions. 

A Garments Store, take your business to the next level partners@payit.ae

  1. Supermarkets/Groceries 

Do you experience long queues while customers are trying to make payments in your supermarket or grocery store? If your answer is yes, then online payments are the way to go. Using this platform, customers can use QR codes to pay for their shopping, reducing the massive traffic experienced by cashiers. Customers also hate it when lines become too lengthy; hence with improved payment and lesser lines, you will for sure receive more customers within a short period.

Most supermarkets accept at most two banking credit or debit cards for payment transactions. Hence this might be a payment hindrance for people using cards not supported by the supermarket. However, online applications accept payments from multiple cards, some even international. Your customers can hence make their payment efficiently and conveniently which with time will improve your profits.

People are not carrying money anymore; they instead use credit/debit cards for payment. However, you can use online platforms to speed it more as customers can use these platforms to access any credit/debit card. They can hence make payments using any of their cards as long as you have an online payment platform that they can use. 

You are hence saved from the hassle of opening different bank accounts to receive payments from other cards. You can therefore grow a significant customer base for your supermarket using this feature.

As the world is evolving, so is Payit e-wallet. It has the new sound payment technology whereby customers can pay for their goods using their voice. Furthermore, customers can initialize a transaction and complete it all by directing the application using their voice. Hence, it is a great application to incorporate into your system if you consider using an online payment platform.

Through research, we have discovered that people tend to spend more money when using online payments. Hence when people come to shop in your supermarket or grocery, they will be tempted to go over budget if you provide online payment; this means more money for you. Hence online platforms are pretty advantageous for supermarkets and greengrocery, and implementing them would bring forth more profits and more growth within a short period of time.

A Supermarket or Grocery Store, take your business to the next level partners@payit.ae

  1. Courier Services

As of the 21st century, merchants are looking to expand their business to hit the global level, and you should not be left behind. However, going global means more purchases and payments made from overseas, which can be very hard to track using traditional payments.

Courier services provide transportation services for people. Some companies offer worldwide transportation services. They, therefore, have to deal with different currencies and different credit/debit cards each day. 

Since they operate worldwide, opening many bank accounts in each country would not be such a good idea. However, online payment methods can help them solve these issues and make payments a lot more convenient.

You can also use online payment platforms such as Payit to transact in multiple countries. Customers from different countries can hence make payments conveniently to receive or send out their packages. They also accept transactions of foreign currencies; you, therefore, do not have to worry about currency barriers. The cashiers’ work is also made easier as all the payments made via online platforms can be tracked easily for book-keeping. 

When using Payit, your company can receive payments from over 200 countries securely and conveniently. You can also bid farewell to the queues in money exchanges as payit takes care of the currencies. So if you are running a courier service or considering running one, you should highly consider using online payment platforms to receive payments.

Became a Merchant, take your business to the next level partners@payit.ae

  1. Salons and Beauty Parlors 

 Salons and beauty parlors have one advantage in common; they tend to have a high expansion chance due to the nature of services they offer, which are in high demand worldwide. Therefore, if you are running a beauty parlor or salon, then online payments should be your first step towards expanding your business and attracting more clients.  

Using online payments, multiple clients can make payments via the online platform at once, which will help you save on many things. First of all, you will not need to have multiple employees to deal with the payments, all you need is an online payment application, and you are sorted. 

Online parlors and salons are also mostly clouded by clients who require immediate services. Therefore it can be hard to track payments made by clients as they are served, plus the chance of employees overcharging clients can also be a great challenge for your business. To curb such occurrences, use online payments platforms. With these applications, clients can make payments as set by the management, plus you get to track any payment made with ease.

You can also use the application to make payments to your employees as the charge rate is relatively low. Doing so will save you a significant amount of money which is charged as a transaction fee.

The application also has a functionality that tracks down your total expenditure. Using this functionality, you can easily and efficiently calculate your profits with ease. Hence, incorporate online payments in your system and watch your profits go up in a matter of days.

The best part about online payments is that, unlike banking payment options that take days to include in your system, online platforms take a minimum of 12 hours to be fully functional. Hence you can quickly shift to online platforms and start enjoying the fantastic services they offer.

A Beauty Salon, take your business to the next level partners@payit.ae

General benefits of using online payment in businesses

Using online payment methods has a lot of benefits. That is why their popularity grows by the minute, so here are some benefits that businesses will enjoy if they incorporate online payment platforms:

  1. It saves time – they offer a faster and more convenient means of transacting. It also eliminates the time wasted counting if the money paid is enough or if the change is sufficient.
  2. It is more efficient – faster transactions mean shorter queues in your store. Shorter lines indicate that you can employ fewer employees and hence save cash.
  3. It is secure – having less cash on your register means that robbers are most likely not going to be interested in robbing your store.
  4. Generates more revenue – statistics show that people tend to spend more money when making transactions online.
  5. Save on paper money – when payments are made using online payments, you can provide a soft copy receipt in return. You hence reduce the amount of money spent to buy ink and paper.
  6. Offers competitive advantage – if your business provides online payment, and other businesses do not, it could spring up a vital competitive advantage.

Conclusion

Change is inevitable; online payment methods are one of those changes that have stirred the business world drastically. Hence, if your business venture has been mentioned in this article, then it is high time you started taking advantage of this revolutionary invention. With online payment, your profits are bound to increase immensely without a doubt.