As you may know, the fast paced technological world we live in today can be a confusing place in regards to the way businesses and finances are run. Thankfully, there are various resources that can give us methods towards getting a jumpstart on more efficient business interactions. There are many advantages of online payments that not only improve your companies but also provide much easier transactions for you and your customers.
Efficiency of Electronic Payment Processing
With the use of Electronic payment processing, setting up recurring billing and auto-pay becomes a lot easier for your customers. Instead of tracking, organizing and processing payments manually each month, you will be able to bill customers for services instantaneously. Adding this time management skill can save your company a lot of time, making it possible for your company to focus on other important things; such as expanding the business and expanding your customer base.
Save & Make Money
A study by ConnectedPlanet shows that individual businesses spend nearly $1,000 in postage, paper, and supplies for billing every year. The way of online payments can eliminate these costs and can give your company the freedom to expand these savings toward things such as bettering your product and customer service.
The New Way
The recent shift towards online shopping is growing immensely in the way people purchase goods. This is not something to fear or hide from, but rather something to embrace. A study by IDC shows that 73.5% of American consumers now use online billing payments. With this large percentage of online consumers and the era of the tablet, can your company afford not to accept online payments?
The many forms of online payments (credit card processing, electronic check) allows the ease of online payments with the few clicks of a button which grants more impulse buying rather than cash or check. If you give your customers the ability to spend more money, they will do as such.
Probill makes it easy to run electronic payment processing. After you are set up to run credit card and or ACH transactions, once a month after running your bills you’ll simply select Monthly > Auto Process Payments. This will give you a list of all the customers you have set up to charge on a recurring basis. You’ll hit “Process” and Probill will run through all of the transactions. If approved, the amount of the payment and approval code will be added to your customers’ history. In a few days you will see the funds from the transactions in your bank account. The whole process takes less than five minutes. Compared to the time it takes to individually enter physical check payments to each customer’s account, charging customers electronically is a breeze!
For a video demonstration of the way electronic payment processing works in Probill click here.
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