Expand your audience: Accepting multiple forms of payment makes doing business with you convenient for more people.Regardless of what you sell, your business can benefit from online payments, because they: But you’ll probably want to accept online payments for all the opportunities and convenience they add to your business. You could go old school: Send a bill and wait for a check in the mail. Benefits of Accepting Online PaymentsĮven if you run a business that promotes and sells services online, you could get by without accepting payments online. You can choose which payment methods to accept-just activate your preferred method, or activate several and give the client options. You can bill clients via email, and the platforms build messages that include a payment button to encourage them to pay right away. Invoicing platforms including QuickBooks, Zoho, Xero, Wave and Harvest offer integrations with major payment service providers, including PayPal and Stripe. You can make it easy for clients to pay for your services by using an invoicing platform that enables one-click payments right from their email. Most popular e-commerce platforms support mobile payments and make it easy to accept this payment method by simply activating the option-no coding required. To implement mobile payments on a website you’re building from scratch, you need to follow developer guidelines to build each into your site: Their credit card information is entered automatically, so they don’t have to fumble with typing in all those numbers from a physical card. Mobile wallets like Apple Pay, Google Pay and Samsung Pay make online payments super convenient for your customers. Related: Best ACH Payment Processing Services 3. You’ll pay a 0.08% fee per transaction ($5 cap), and the customer has to connect their bank account using the Plaid network. You could, however, receive ACH payments via Stripe with your own account. The payer also covers the fees for an ACH transfer, compared with a credit card transaction, where you cover the fees as the recipient. Receiving payment via ACH is usually up to the payer because they need to have access to the necessary accounts and tools, including an ACH payment service provider like Gusto, or Stax. But many will initiate ACH with just your bank information. Some companies require a voided check, which includes those numbers, or an authorization form from your bank. You just have to give the customer or client your direct deposit information, which includes: To accept payments via ACH transfer, you generally don’t need any special capabilities. This is how you receive money if you’re ever paid by direct deposit. ACH transferĪutomated clearing house (ACH) is a network that moves money electronically between bank accounts in the United States. Many popular point-of-sale (POS) systems also offer e-commerce modules with online payment processing. It’s free to set up an account with most payment service providers, and you’ll pay a fee per transaction of around 3%, depending on the platform. Online payment service providers let you accept credit card payments or payments directly from your customer’s account with the provider, such as PayPal, to yours. You just need to create an account with PayPal or Stripe, then enter that information in your website builder to enable payments on your website. Most modern website builders, such as Squarespace, Kajabi and WordPress, integrate easily with payment service providers. PayPal and Stripe are the most popular payment service providers, though you might also use the processor built into Shopify or WooCommerce if you run an e-commerce business through one of those platforms. If you run a service-based business or sell products online, an online payment service provider might be the most common way you get paid by customers or clients. There are a variety of ways to accept online payments, and the methods that are right for you depend on the kind of business you run.
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