In today's era, businesses from a sole trader to multi-nationals cannot afford to refuse electronic payments, as consumers are feeling more safe and secure to pay by card, instead of cash.
From a key-cutter to a shoe repair service or even when you create a website online, all kinds of secure cashless payments must be accepted. The types of online payments used are money transfer apps, paypal, bank transfers to the simplest form of digital card payments.
You may still find some small traders who prefer to only accept cash, as they feel the charges associated with offering card payments to its customers are not necessary and avoidable, especially if their turnover is low. They may also believe that they do not meet the conditions to accept such forms of payment or they are so used to accepting cash and are afraid to embrace change.
The disadvantages of not accepting digital payments is that these small businesses could be losing out on Insurance, access to funding and other online services. All these types of services need a Business to accept a digital form of payment. This is why, it is essential to move forward with technology and make the customer's experience as convenient as possible.
From the point of view of the Business, they would be able to accept larger payments and the consumer would not feel unsafe carrying cash around.
With the rise of online marketing, Businesses are compelled to go digital and accept the most common online methods of payment stated above.
For example, if you build an online shop through an online shop creation service, list your products and services for sale by categorising them clearly with images, the buyer will find the service easy to navigate and purchase the items without any issues. Once their basket is ready to checkout, they will be hoping to pay using a credit/debit card, paypal or bank transfer, as these are the most commonly used means of payment.
If you want to create an online shop or create a website, Great1 offers a very easy to follow service with a set of quick and simple instructions. You will have your website and online shop ready for customers within minutes.
