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The Top Ways to Accept Payment in Your Business: Online or Instore

Once upon a time, there were two options for paying for products: cash or card. Now we have all different types of cards, cryptocurrencies, and the ability to stretch payments out over time, without using a credit card. And as a business owner, you need to know what options are not only the best fit for your business model, but are the most convenient for your customers.

For example, if you run an online boutique, you absolutely must accept payment from third parties, such as allowing people to pay through Paypal or their Shopify account – but more on that later.

With providers coming out with new options left and right, we’ve put together an easy guide on who you should partner with to accept payments, below.

In-Store Payments

When you have a brick-and-mortar store, you need to accept both cash and card payments, which means you’ll need some sort of point-of-sale system that can accept both. If you have a complex inventory system, then you likely already have a POS system that works for you, which will include a way to accept payments.

But if you’re just starting out or don’t have the money to buy one of those fancy machines, look into Square business solutions and PayPal’s new point-of-service system. These will allow you to take cards, give you some level of protection against fraud (depends on your plan), and they usually operate on a membership system, which is more cost-effective up-front than having to pay a percentage of each card purchase back to your provider.

In case you accept cash payment, it is essential to stay protected from counterfeit money. Besides that, you also need to keep a count of cash available in the store. For that, it is recommended to invest in counterfeit detectors and bill scanners. As manually, doing the same can be a hassle. You can click here to learn more about counterfeit detectors.

Online Payment Options

If you’re from an older generation or are transitioning your traditional brick-and-mortar store to an online platform, picking an e-commerce partner can feel overwhelming.

There are three main e-commerce platforms businesses are using right now: Woocommerce, Shopify, and Wix websites with the e-commerce option. Each of these accepts payment from the major card brands, including American Express, and most will allow customers to check out using Paypal, which consumers trust.

At the beginning of this year, businesses would have to contract out pay-over-time services such as Sezzle, Afterpay, and Klarna. But as of this summer, the bigger e-commerce names are getting in the game with their own options. Paypal rolled out their new pay-in-four option and Woocommerce deposit is new to the game as well.

Offering these pay-over-time options gives customers who may not have the credit (or the spending power) to use credit cards the same broken-up payments that credit cards offer, without the interest. They’re very popular among consumers, so take some time to figure out if offering them is right for you.

It’s Never Been Easier to Accept Payment

Do yourself a favor and, when you’re creating an online e-commerce site, pick a host that offers store or checkout options. It’ll save you a headache, keep you from having to do anything with coding, and will put your customers at ease.

After all – what would you do as a business if you couldn’t accept payment? You’d cease to exist! For more content that makes being a business owner easier and inspires you at the same time – follow us on our socials. You won’t regret it!


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The Phat Startup was created by Mike McOwen to create a space where entrepreneur lifestyle could be focused on. We tend to live a different lifestyle than most. Entrepreneurs tend to be interested in maximizing their life, not only their profit.

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PhatStartupsMike McOwen@PhatStartups·
29 Dec 2017

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