13 Aug Why should you accept digital payments in your business?
Posted at 16: 30h in Tips for Business 0 Comments
Today, technology has increased the payment methods that exist to facilitate all processes and experiences that a customer has when buying a product or service. That’s why accepting digital payments in your business is essential, because you show that you are at the forefront and above all that any customer can consume you without any problem.
You may have traditional payment methods such as cash and other more digital ones such as credit or debit cards, but you will soon have some contact with a customer who asks if you can make a payment without contact or with cryptocurrencies. But so that at that moment you do not deny a business or purchase opportunity, here we will tell you the types of digital payments that exist and how they would improve your business.
What are the digital payments?
The digital payments range from credit and debit cards to the newest ones such as bticoins and e-wallets. All these have been created under the idea of maintaining total security in transactions to send, pay or receive money.
Credit and debit card
The credit and debit cards are plastic that contain data (bank account number and name of the one to whom it belongs) that are processed and identified by a reader commonly called terminal point of sale. Which allows you to accept these payment methods by receiving the money in your company’s bank account. The banks belonging to these types of payment charge a percentage of commission to affiliate your business to them and that way you can accept certain cards. The conditions depend a lot on each bank and even on the type of card used.
Payment without contact or e-wallet
The contactless payment or e-wallet has emerged a few years ago, but recently it has been the most novel payment method used by consumers. It works in such a way that just by having a closeness between a card and a terminal, there is wireless communication between them and the necessary information is transferred. This has been able to ensure even more transactions and above all avoid fraud or possible identity theft. Even some cell phones can be used to make the first connection with credit cards and then only use your smartphone to pay.
Cryptocurrencies or bitcoins
Before this type of payment seemed very far from reality, but today there are already businesses and businesses around the world that accept the value of bitcoins as valid. And although in Mexico the market for cryptocurrency transactions is still low, do not doubt that in a short time it will continue to grow. Some of the companies that accept and operate in the country are: Dell, Shopify and Amazon. But restaurants or coffee shops are not far behind, as Café Punta del Cielo welcomed the bitcoins in Puebla. So it’s good that you’re preparing your business for a new payment method.
How would your business improve?
According to the INEGI, only 32.2% of the economic units in the country accept digital payments and of the different types only credit and debit cards. The fact that you can accept digital payments will open many doors with new clients, since you would be facilitating the acquisition of your products or services and thus achieve greater and better sales.
The image in a business is important, since it is what gives credibility and confidence to the client to be able to approach you and buy or consume your products or services, the more value your business has, the more people can get to know you. With accepting different methods of payment, you would be raising the perception that has all that audience that interacts with your business, because staying up to date generates that confidence and assurance that your processes and improvements are appropriate.
Your service could be qualified as excellent, since your clients can ensure that you are always willing to offer them the best so that their experience is totally positive. They will also know that you have the appropriate technology and will stop worrying about the payment transaction.
Now that you know a little more about digital payments and are aware of what they can do for your business, decide to accept most of the existing methods to see results that will keep you moving towards the goals you have defined for your business.