How to get started accepting payments online
If 2020/2021 taught us anything, its to be able to pivot 100% to online! And having a clear way to accept payments online is a big part of that.
Accepting online payments isn’t limited to ecommerce website. All websites should have some function where they can accept payments online.
If you think of most websites out there, it talks about itself…
“We were established in…”
“We specialise in…”
Followed by the oh-so effective…”Book a call”
Then we wonder why the website doesn’t convert!?
Lets reimagine that website. Maybe it speaks to certain demographic, solves a specific problem and provides the visitor with an opportunity to purchase a low cost product/service right there and then? No calls, no massive commitments? But…thats the subjetc for a future blog post! For now, lets focus on how to get started accepting payments online.
Introduction: Why You Need to Start Accepting Payments Online
It is important to accept payments online because it lets your customers be more confident in the security of their transactions. The transactions are also easier and more convenient for your customers. Payments can be made through a bank account, credit card, debit card, or PayPal account.
Accepting payments online only takes a few minutes and has many benefits beyond just convenience. You can earn money by receiving tips from your customers online which is much easier than accepting tips at the counter or in person. You also have the potential to earn money by offering subscriptions and having people purchase goods off of your website.
How to Offer a Payment Gateway on Your Website
Each person who wants to sell goods or services online should have a payment gateway on their website. It is not possible for everyone to have their own payment processing system installed on their site, so a third party provider should be used as discussed below.
How to Get up and Running Accepting Payments Online
There are several platforms available. What you’ll find is that you’ll not pay for the set up, but you will pay per transaction by way of a percentage or a flat fee.
If I was to look for a simple way to get started accepting online payments, I would go for SumUp. You can generate buttons, link up your account and accept payment. Your customers will click the link and be directed to a payment gateway where they can complete there purchase.
If you have a larger website with numerous products for sale, I would take a look at Stripe. Bit more complex but has some good feature for ecommerce sites and integrates easily with web builders like WordPress.
If you want to take direct debits, check out Go cardless, very clean and effective direct debit processor.
And of course, there is always Paypal (although its fallen out of use as the “go to” online payment processor).
Things to do when Accepting Payments Online
Ensure you comply with GDPR, AML and any other legistation/regulation around your customers privacy and data.
Withdraw the payments from your account as quickly as possible
Ensure your refunds policy and terms and conditions are clearly displayed on your payment pages and on your website
Resolve any disputes promptly and in line with your terms and conditions