Online payments for small businesses

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Editor’s Note: Here at Dispatches, we are always looking for ways to help our readers do things. For some of our readers, that means helping navigate the working world, for others, it means assisting in the ever challenging question,what’s for dinner?” For still others, it means figuring out how to balance family life with everything else. In an effort to aid in all of these endeavors, we have collaborated on this article written specifically for our readers. 

A major part of business in 2016 is accepting online payments for products or services on your website. You’ll want to research your options and be sure to talk to your accountant before choosing one of the options that any small business can use

Credit Or Debit Card
A credit or debit card is the obvious solution. The only problem is that you have to make a few changes if you want to make it work. For starters, you need an online platform that allows you to deal with the transaction. Then, you have to secure the portal so that customers don’t have security issues (the green lock icon in the address bar). You will likely have to pay for this service. But when compared to online purchases, the monthly fee might be worth it for your business. 

Merchant Account
If as a business owner, your credit isn’t great, you might want to consider a high risk merchant account. This is one you will absolutely want to talk to your business accountant about before pursuing, but if it’s your only option for the time being, your choice may be made for you. 

PayPal
Another alternative to the two listed above is PayPal. The great thing about PayPal is the fact that it is secure and considered one of the safest methods for online transactions. For a fee, Paypal assumes the security risk and is compatible with almost every website. As long as you have an account, and your customers have an account, they can make a transaction. For any company that wants an easiest solution, PayPal may be the right one.

Mobile
It is possible for customers to pay via their mobile phones. What happens is that they verify the transaction and the debt add to their monthly bill. To be honest, there aren’t too many businesses that go with this method because it is undesirable. Lots of customers don’t trust mobile technology, so you may not want to make it your primary way to accept transactions.

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