DIGITALIZATION TECHNOLOGY

What Are The Advantages of Online Payment?

online-payments

In recent years, our consumption habits have evolved at high speed and are strongly influenced by the significant growth of e-commerce. This development was felt during the Covid-19 health crisis, where restrictions such as confinement profoundly changed lifestyles. Thus, consumers have been pushed to use online technologies much more, including digital payment. More than eight in ten people have transformed their payment habits compared to the pre-pandemic period, with 49% of them having turned to a new online payment method for the first time.

But what are the advantages of online payment? What are the benefits of offering this payment solution to your customers and integrating it into your invoice templates?

Online Payment: What Is It?

Online payment refers to all transactions carried out online from a computer or smartphone.

There are different forms of online payment: credit card or immediate debit card, SEPA direct debit, payment by email or via third-party virtual accounts such as PayPal, mobile payments, etc.

How Do Online Payments Work in Invoice Templates?

Introducing an online payment method on Excel or Word invoice templates is not easy. On the other hand, integrating it using invoicing software is much for you and your customers. Indeed, on such software, the customer can immediately pay his invoice by clicking on the payment link integrated into the email or clicking on the “pay” button present on the PDF of the invoice. He is then redirected to a secure payment platform where he can enter his details to finalise the payment.

What Are The Advantages of Offering Online Payment?

Speed, ease, comfort, automation, increased productivity, and a modern image is excellent reasons for adopting this type of transaction.

Speed ​​of transactions: reduction of payment times and acceleration of collections.

The possibility of making your customers pay online from an SMS or an email will be very appreciated by them because you will save them time. And you will also gain. Indeed, by offering the online payment method, you will increase your chances of being paid more quickly. Thus, on average, users of billing and management software with online payment functionality are paid 10% earlier than those who do not.

Ease and comfort of use: pay in a few clicks.

Paying online has never been easier: no checks to fill out, no bank transfers to organize, everything will become much more accessible and transparent for your customers. They will no longer need to leave their screens, and in just a few clicks, they will have made the payment.

For your part, online payment is just as simple. From invoicing software, you can easily opt for this method of payment. You will no longer need to establish the amount of information manually, and the data will be updated automatically. You will have fewer errors related to the cashing of checks or the recording of transfers.

Automation: increase productivity.

By setting up online payment on billing or management software, you will be able to perform your bank reconciliations automatically and save significant time. In addition, all the stress related to checks, monitoring of deadlines, reminders, and waiting times for a transfer or check will no longer be necessary. Online payment will relieve you of inevitable daily tensions and allow you to refocus on more essential tasks and thus improve efficiency.

Modernization: a more contemporary image of your company.

Online payment gives your company a modern and professional image and is a real asset for your accounting management. It speeds up the collection of your invoices and ensures the security of transactions.

Security Standards For Online Payment.

Do you still have doubts about switching to online payment? Are you worried that your customers may have some reservations about this payment method due to the dangers that exist and the security issues that arise? Reassure them that new security standards have recently been put in place for online payment and make it possible to offer the best user experience.

Conclusion

Therefore, fast, easy, efficient, and secure online payment stands out as a modern and efficient transaction channel that should be used more and more in the future…

Also Read: Create Your Online Shop – Get Started Step By Step

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