When running a business, receiving money online is key to how you operate, and with technology constantly advancing to make this process easier, there has never been a better time to allow your customers and clients to buy and pay for goods over the internet. Receiving money online is easy with the help of a few platforms so that you can manage your payments and ensure that outstanding invoices can be paid easily to keep your business running. Read on to find out more…
If you have outstanding payments, it may have a detrimental impact on your cash flow, which means you may not be able to pay bills or handle emergency circumstances. Payday loans can provide you with funds in a crisis but implementing a platform to allow you to receive money can reduce the chance of late payments.
What are online payments?
As technology advances, many of us can take advantage of easy payments online – whether you’re a business that accepts payments from your eCommerce shop, you’re sending money to a supplier, or paying back a friend. Thanks to advancements that have been made in online payments, it has never been easier to send money from one account to another. Many small businesses use various methods of receiving payments online because of the benefits that it brings, which we will look at in more detail below.
What are the benefits?
So, if you’re weighing up the different ways of receiving money online, you’ll need to know some of the benefits to help you decide – some of the advantages include:
- Convenience: Sending money online is incredibly convenient, gone are the days of having to physically withdraw money from your account to pay in cash. It also makes it easier to buy and sell online. Because it’s easy, your customer is more likely to buy from you.
- Security: Companies that work to send and receive money online know that this poses a risk to both parties, so you can be sure that they work hard to protect online transactions and payments to reduce any problems or issues that users may face.
- Speed: Using an online payment system means that you can send and receive money instantly – no more waiting for your bank to approve the transaction.
Different ways of receiving money online
Whether you’re a business that is setting up payments on your website, or you’re simply looking for an app that can help you send and receive money with a simple tap, here are a few ways that you can receive money online with some of the best platforms.
This is one of the best online payment platforms that you can use to receive money online. HubSpot allows your business to accept credit and debit cards – and it even embeds payment links into invoices that you send out, and you can include them in text messages or emails so that no one forgets to pay you or does not know how. You can integrate this platform so that customers’ details and payment history update as payments are sent so that you have a better idea of payment history.
A platform that many of us will have heard of, PayPal remains one of the best ways to send and receive money over the internet. Not only does it have a great reputation, but it is also one of the most trusted, so you can be assured that you’ll be getting the best service each time. You can use PayPal to send personal funds, as well as integrate it into your business website to accept payments internationally.
Potentially the easiest way that a business can offer their users to pay online is by allowing Apple Pay. Those of us that have an iPhone will be aware of how simple making a payment is with this feature, and by implementing it into an online store, your customers won’t even have to reach for their credit card. Simplicity and ease mean that your customers will be more likely to complete their purchase, meaning increased profit – they can even pay on their watch!