Online transacting is a convenient way for customers to make payments when purchasing goods and booking services virtually. But with so many payment services available on the financial market, it can be challenging to choose the best options that can suit customers well enough not to compromise your sales.
Much like an online casino, there are different ways that companies can go about picking the right payment services. Based on factors like popularity, accessibility, and more, this means that careful consideration has to be made when shortlisting the best available options to partner with.
In this article, we will be providing you with five reputable, popular, and easily accessible payment services companies should consider when they’re looking to offer paymets on their virtual platforms.
Top 5 Payment Methods Best For Companies Operating Online
In addition to card payment services like Mastercard and VISA, PayPal is another leading method that is steadily making its way to being available on most online platforms. With more than 254 million users globally, PayPal remains a dominating option as an e-wallet service and overall option.
With several advantages to benefit from in using PayPal, these would include the fact that it’s:
- Easy to use because of its straightforward and simplified way of sending money to other PayPal users and other virtual platforms
- Used by millions of people around the world
- A platform that offers an added level of security through verification and authentication that helps prevent fraud.
- A platform that encrypts all your financial information
- Instant when you’re processing transactions online
- Free to use when you’re sending funds between family and friends that are also using PayPal
VISA and Mastercard
VISA and Mastercard are two highly reputable payment services that have been around for many years. They remain two of the most utilized card payment options that most customers use when making payments either online or in person.
Advantages that you can expect to encounter when offering VISA and Mastercard include:
- The ability to offer customers a payment service that they are accustomed to traditionally
- Credit card services allow you to experience more successful transactions in cases when the customer has insufficient funds.
- Your company comes across as more credible and legitimate thanks to the partnership with the leading method.
- It’s convenient to offer since most customers have one, the other, or both card payments.
- Your company will experience fewer security risks.
- Card payment services are easy to set up.
- They offer a competitive edge to other businesses on the market.
Offering leading cryptocurrencies like Bitcoin can be another option worthy of exploring. With improved security, the previous risks, uncertainties, and illegalities that were associated with Bitcoin are now improved.
Reasons as to why you should consider offering Bitcoin include:
- Accommodating millennials that have already bought cryptocurrencies
- Accommodating Bitcoin users that appreciate the anonymity that comes with using cryptocurrencies
- Taking advantage of the instant transactions that happen when you use Bitcoin as a payment option
Believe it or not, a large population of the world uses Apple smartphones. This makes Apple a popular brand to consider, and for this reason, making Apple Pay an available payment service can be worth your while.
Some of the advantages that you can consider include the following:
- Customers are provided with an easy, fast, and secure alternative to your more traditional payment services.
- Customers don’t need to include their long card details since all transactions receive instant approval with just one simple step.
- Customers have the luxury of authenticating all their online purchases through features like Touch ID, which is a fingerprint sensor.
- It’s free to use for customers and merchants.
Just as popular as Apple, Google also happens to be a leading name used by hundreds of millions of people worldwide. For this reason, Google Pay is another payment service that’s worth considering if you’re looking to capitalize on what’s trending the most.
Some of the advantages that you can consider when using Google Pay include:
- It’s an added level of convenience to Google account users
- It’s easy and straightforward to use for customers since Google already stores payment information
- Checkouts can be done quicker
- Companies can build brand affinity through the use of gift cards, offers, and loyalty cards