A payment solution is not an option but a need in this digital age. And as a small business owner, you need to find the right payment solutions for your business. Think of it this way, every platform or business has an opportunity to expand, and when you integrate it with the right payment solutions, it becomes a part of your company’s growth strategy.
Besides, payment solutions are untapped ways to reach your customer base. Most smart business owners are using payment processing services for small businesses. The trick is using the right payment solution and integrating it with the right business strategy.
Benefits of Digital Payments:
The changing business landscape has made way for a new-age payment market, which has alerted customer behavior. Online payment processing has changed customer behavior, and most of them expect seamless and quick transactions. As a result, it has given rise to a more customer-centric payment model.
And as small businesses are operating with a long-term goal of retaining customers, it is a good idea to adapt to the new trend.
Following this, there has been a change in innovative and intuitive payment methods that have changed the customer experience. Besides, the strategy is viable in the light of the Pandemic, which requires finely-tuned digitalization and minimum interaction.
However, customer retention is not easy. So, it is vital to ensure you choose the right payment solution, which gives results. SMEs need to choose a secure platform and make payments and purchases seamless for customers to secure the feature.
For instance, in the E-com sector, the abandonment rate of shopping carts is more than 60%. And the reason behind this is complex checkout and payment processes that confuse new buyers.
Integration with payment gateways helps small businesses to accept payments online or through direct modes. Most companies search for specific payment solutions, but it’s essential to step back and evaluate the features of payment processing solutions.
Let’s dive deep and see Top Payment solutions that can help your small business grow.
1. GETTRX
GETTRX is the global payment processing solution that’ll help to grow your business. It is a payment platform that fits your every payment need. It offers features like – terminal POS, subscription and invoicing, APIs, and E-com plugins.
Plus, it accepts and facilitates payments on the user’s behalf. It securely processes all the payment transactions through the best gateway and offers POS options that can be customized depending on your need.
In addition, it offers flexible payment options with integrations and modern tools through which you can accept payments in minutes. GETTRX lets you streamline your non-profit solutions by tracking causes and campaigns. It charges 2.79% plus 30 cents per transaction.
2. Chargebee
Chargebee offers subscription-based services and specializes in scalable subscription billing processes. It automates the billing solution through SaaS (software as a service). Plus, the automation features have 480 recurring bill scenarios – supporting most billing workflows.
It offers end-to-end solutions for all kind of businesses, as it manages invoicing, tax management, rotation, and payment processing. Most importantly, it is intended as a flexible solution that tweaks bills for any period.
Moreover, it eliminates rounding errors and tracks the usage that reflects the data in taxes and charges. The rise plan starts from $249 per month.
3. Authorize.net
is a popular payment gateway provider that allows businesses and merchants to accept electronic payments and credit cards through E-com websites.
Its focus is on well-established technology and ACH. Additionally, it features an advanced fraud protection feature that makes the payments secure.
The payment processing solution supports flexible checkout options with recurring billing solutions. While these offerings are standard, the company has built some new features and updates in the wake of the current Pandemic.
It now processes the payments using online merchants and in-person using a single processing engine. Also, the virtual terminal feature can accept payments without a card reader or E-com website. It charges 2.9% plus 30 cents per transaction.
4. PaySimple
PaySimple is the most widely accepted payment processing solution. It streamlines the billing process and helps manage customers. Plus, you can use recurring billing schemes by the subscription-based business.
It offers bank-to-bank transfers, cash flow reporting, secure customer contact management, and mobile payments through a credit card reader. In addition, it provides customer relationship management functionality, which saves time.
For customers that prefer E-check payments, PaySimple lets them enter bank account information securely. Additionally, you can sync mobile app payments with customer profiles that reduce reconciliation. It charges 2.49% per transaction and monthly fees.
5. Square
Square offers a wide variety of payment solutions. In addition, it comes with flexible payment offerings that combine contactless customer interaction for accepting any payment.
The payment options include – chip card, swipe card, NFC, or phone payments. In addition, it lets you process remote payments without any connection or offline mode.
Flexibility in payment is one benefit that makes it attractive for small businesses. In addition, square focuses on ease of convenience and user interface. It’s an end-to-end solution with the pre-configured point of sales technology your business may need.
Moreover, it doesn’t charge long-term fees or setup; it charges a flat rate of 2.6% plus ten cents per transaction.
6. Shopify
Shopify does not need any introduction as its a well-known platform. It offers an all-in-one platform for eCommerce businesses, including catalogs, shopping carts, and integrated payment processing solutions.
Shopify requires only a few clicks to set up and provides ease of use. Additionally, it offers a POS cash register app that rents several kinds of processing hardware.
Once you set in the hardware, the platform enables more than 100 payment options, including electronic wallet applications and mobile payment services. In addition, Shopify won’t charge you added commission on the transactions, as it charges 2.9% plus 30 cents per transaction.
7. VizyPay
VizyPay is a payment processing solution specially designed for small businesses. It covers different online, storefront, and mobile payment solutions. Plus, it works to keep your revenue stream running smoothly.
The payment processing service focuses more on customer support, promising that subscribers can connect support team at any hour. It does not believe in long-term contracts and offers a transparent fee structure for startups.
It is a flexible solution for small businesses and E-com businesses. Additionally, it offers terminal options, mobile options, and POS options. It charges a transparent fee structure that starts at $25 per month.
8. Stripe
Stripe payment solution is a global payment platform offering great payment features for brick-and-motor stores and online stores. It can handle almost any payment process, making it convenient to use.
Besides, it covers recurring payment scenarios, unlike online standard options available with other payment tools. It handles different payment options, including bank debit, transfers, and bank redirects.
The best part is – it lets you add customized payment pages through plugins. So it becomes easy to integrate to different websites and not just online stores. It charges 2.9% plus 30 cents per transaction.
9. Quickbooks
Many people use QuickBooks for accounting functions. But, do you know you can use it for payment processing as well? QuickBooks payments allow you to take in-person or contactless payments.
Plus, it offers bookkeeping and deposits if you integrate with the program. So, to word it in simple terms, by direct integration, you will avail all the features, including the payment processing feature of the platform.
Small businesses that use QuickBooks for managing accounts and finances can integrate with the payment feature to save time. It charges 2.9% plus 30 cents per transaction and an additional 1% if currency conversion is required. ACH transfers are 0.8% per transfer.
10. Braintree
Braintree is a PayPal initiative and innovative payment processing solution. It is a growing E-com space with flexible features. Plus, it offers a range of payment options that embed the checkout process within your website.
It suits every website and platform, so it is the best integration feature. Braintree offers amazing third-party app integrations to save time.
It allows you to integrate with Salesforce – the number one customer relationship management software. Additionally, it combines the power of customer data with payments for secure transactions and payment processes. Most importantly, it helps to keep your money safe online. It comes with zero setup fees and no charges.
Choose the best payment processing solution,
As a small business owner, you need to find the best online, in-person, or mobile payments with secure merchant accounts. Follow three primary factors while choosing a payment processing solution –
- Quick
- Easy to set up
- Integration feature
The solution you choose should be quick and provide you with flexible features. The setup and installation should be simple to understand and implement. And it is essential to check for payment integrations with other applications and websites.
No more balancing credit cards, mobile payments, and ACH, so choose a global payment platform for all your small business needs.
Author Bio
Author Name- Megha V.
Author Bio- I am a Creative diginative who spends too much time on social media — interested in combining technology and creativity with my blogs – loving all things nerdy. Minimalistic design, organizing great events, and constant learning excite me.
Social Handles- Website, Twitter &, LinkedIn
