What to Look for in an Online Payment System for a Small Business

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Choosing an online payment system for your small business can be quite challenging. You want it to provide all the bells and whistles your customers might want but still need to make sure it addresses all the essential services your business needs. These are some of the specific features you might want to consider looking for when choosing an online payment system.

Identifying the Perfect Online Payment System for Your Small Business

The ability to accept online payments is becoming an essential tool for building businesses today. It not only helps you to compete locally, but to present your products to a global audience of buyers. Without a trusted tool to help you process those payments, though, you could lose more than you gain from the experience.

These are some of the essential features you might expect from your online payment system:

  • The ability to accommodate “guest” checkouts without forcing customers to create accounts.
  • Easy access for payment processing on mobile devices. Why does this matter? According to CNBC, 46.2 percent of total online revenue is conducted on mobile devices. You’re leaving a lot of money on the table if your online payment processing system isn’t mobile friendly.
  • Advanced security features, including fraud protection and chargeback management.
  • Elimination of redundant fields (like shipping and billing addresses if they are the same), making the interface more user friendly.
  • Fast payment processing.
  • Supporting international payments.
  • Customer support for your business through multiple mediums (like phone, email, chat, etc.)

It isn’t enough that you’re simply able to process payments with your online payment system. You need to find a system that meets your needs today and allows room for growth in your business and your online presence.

Increase sales while simplifying your payment processing

Questions to Ask Before Choosing Your Online Payment System

Of course, there will be many questions as you transition your business from one that is conducted largely face-to-face to one that deals with audiences near and far. When you’re looking for a payment system to process these online payments there are a few key details you need to know.

  • Are recurring payments supported? These are ideal for subscription services, like subscription boxes, and other types of monthly fulfilment items.
  • Where do payments take place? Are they processed directly on your website or are customers taken to the processors website and then directed back to yours?
  • What kinds of fees are charged for the service, for transactions, etc.?
  • Is your currency of choice supported? What about other currencies for international orders?
  • Is the online payment processing software compatible with your existing software?
  • What kinds of payments are accepted? Many customers prefer payments through credit cards, digital wallets, e-checks, etc. Will the system support these types of payments?
  • What kind of customer support is available for businesses who need assistance with their online payment systems (getting started, troubleshooting problems, etc.)?
  • Are the services scalable? This is more important than you may realize at the moment. Making the transition to online services can really launch your business, meaning you may need greater access in the near future. Or your business may be seasonal, meaning you need more services some months than others. Will the online payment system accommodate those varying needs and scale up or down accordingly?

BankCard Services helps your business accept and process online payments more smoothly. Contact us today with your online payment processing questions and let us help you choose the service that best meets your needs today and as your business grows.

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