First off, I hope you and your family are keeping well during this difficult time.
As uncertainty continues in the current climate, many businesses have turned to alternative methods of accepting card payments in order to ensure that they continue to trade. This blog post will examine two alternative methods, Online Payments and Over the Phone, providing you with an explanation into both and how they can assist your business in continuing to trade. Both of these payment acceptance types have seen increased growth in the SME market over the past few years and more than ever in today’s business climate should be strongly considered as an integral element of your business moving forward.
eCommerce / Online Payments
Even prior to the pandemic, many SMEs have identified an eCommerce account as a platform to grow their business. An effective eCommerce can lead to sales growth, and ability to accept payments without the need for your customer to be in the shop, an increment in customer reach and better efficiency.
One of the benefits of using eCommerce is significantly lowering any start-up costs. A physical store/shop results in having to pay up to thousands in rent. This does not include the several other expenditures needed to run a shop/store such as signs, design, buying inventory, sales equipment, and more.
Although there is a significant reduction in business, eCommerce activity continues to thrive. Payment gateways allow businesses no matter the size, to accept online payments in a secure, simple, and efficient way.
Accepting Online Payments
To be able to take card payments on your website is simple and you can start the process right now. Payment gateways allow for businesses to have access to a payment processing system via mobile apps, websites, and other applications like virtual terminals. Once set up, your business can continue to sell and steady your cash flow during this difficult time.
Virtual Terminal – Over-the-Phone
Virtual terminals are web-based, ‘card-not-present’ point of sale solutions. Possessing a virtual terminal allows for your business to accept card payments over the phone in a safe and secure manner. Not requiring a card reader, clients provide their billing information without needing to be present.
This form of accepting payments is crucial at present as there has been a significant increase in payment fraud over the past few months. Make sure whenever you accept card payments, that you do so in a protected method.
A Virtual Terminal – What is it?
A Virtual Terminal is a web-based application that allows you to transform any PC, tablet, or smartphone into a point-of-sale terminal only requiring an internet connection. This means that you can accept a card payment anytime, anywhere once you possess an internet connection.
It is called a “virtual” terminal since it operates the same way as a card reader but without an actual terminal. Using a virtual terminal to accept card payments can help you to expand your business and keep things running smoothly, all hours of the day or night.
If you are searching for a secure, easy and affordable way to begin accepting card payments right away, a virtual terminal may be the perfect solution for you.
Who are PaymentPlus:
PaymentPlus are Ireland’s fastest-growing provider of Merchant Services and managed payment solutions. We provide merchant services, card terminals and eCommerce accounts designed to fit any business. We are the only 100% Irish owned provider operating in Ireland. Our business is focused on providing a high-quality service at the most competitive prices.
If you are looking to learn more about how to accept online payments, making a virtual account or any payment related questions, please feel free to contact us using your preferred contact method.
Find out more about Payments Plus visiting their Profile on WhatsWhat.ie