Billing your customers is very important. Even more critical is getting paid for those bills. Thanks to the ongoing evolution in the payments industry, there are more payment tools and platforms to choose from to help find the perfect option for your business – based on how many payments you receive, the type of business you have and, of course, your budget.
At the article below you can find number of payment methods which will attract more clients, facilitate faster payment, and ensure a secure environment for both parties during every transaction you make.
1. PayPal has become one of the most trusted payment platforms online. It was one of the first that provided freelancers with a way to accept credit card and debit card payments without having to partner with a credit card processing company and face high monthly and transaction fees. Over time, PayPal has evolved into offering personal and business accounts, its own debit and credit card, a revolving credit line and business loans. It allows you to accept payment in foreign currency and then handles the currency exchange process for you for a minimal fee. Now, PayPal is beginning to accept Bitcoin so that you can make and accept cryptocurrency payments.
2. Braintree. As part of PayPal, this company has bolstered the company’s payments expertise and provided more options for you to pass onto your customers — like Venmo, Apple Pay, Android Pay, Bitcoin and debit and credit cards. There are no extra fees, including no fees for refunds, inactivity or failed transactions. You only pay for those transactions you actually carry out. After your first $50,000 in transactions, you will pay as little as 2.9 percent + $.30 per transaction.
3. Authorize.net is a payments gateway that offers domestic and some international transactions for small to medium-sized businesses. You can accept all major credit cards, signature debit cards, echecks and digital payment options like Apple Pay, PayPal and Visa Checkout. Other features include automated recurring billing, a free suite of security and fraud prevention tools and the ability to synch with your Quickbooks. Although there are no annual renewal or hidden fees involved, there are some other fees to consider. There’s a $49 set-up fee, $25 per month gateway fee, and 2.9 percent plus $0.30 per transaction.
4. Stripe was built for developers to create custom payment solutions, but it can also be used in its basic form. Even as a standardized payment platform, it is packed with features like integrated mobile payments for iOS and Android, checkout, the ability to add coupons and recurring billing. As a global payment option, it works with over 100 currencies, as well as Bitcoin and local payment instruments like Alipay. You can also accept digital payment services like Apple Pay, Android Pay and AmEx Express Checkout.
5. Wepay is an online payments processing platform that is completely customizable. Its standard payments solution is fully integrated into your business, offers fraud prevention and fraud detection tools, direct bank transfer, recurring payments and multi-party payments, all major credit cards and ACH payments. Credit card processing fees are 2.9 percent plus $0.30 per transaction while ACH payment processing is 1 percent plus $0.30 per transaction. Charge backs are $15.
A world of online payment options for your business.
This is just a sampling of the growing number of payments companies that include credit card processors, global payment processing firms, online payments providers, digital payment companies and cryptocurrency payment businesses. As you build out your business, you’ll be able to offer a wide range of payment options, including ecash and echecks, digital currency and traditional payments across a world of currencies, and credit and debit cards.