Any business setup whether small or large will get to a point every now and then when they have to accept payments or send out the same. A business owner usually takes this very seriously as they cannot afford to make mistakes. There are several payment tools and platforms for accepting and processing payments but not all payment processors are the right fit. Some people may be living in countries where some payment platforms are not accepted. It could also be that some of the platforms do not have the features that are needed for your small business to grow. With all these in mind, let us take a look at some incredibly useful online payment platforms for small businesses. PayPal When , you want to be able to get on to the platform as easily and quickly as possible so that you can conclude quickly and attend to other matters concerning your business. This is where Paypal comes in. This payment solution is a leading international e-commerce platform with more than 150 million customers globally. Paypal provides a wide variety of options for small business owners. making or receiving payments The Paypal payment standard is the most popular payment solution that small businesses love the most. It is popular because it helps you get online easily and quickly too. The fee is 2.9% plus $0.30 per transaction and there is a monthly volume discount which can be as low as 1.9% plus $0.30. For a pro solution, the fee is $35 monthly. Authorize.net Authorize.net is a visa solution that is a payment gateway provider. It is there to help merchants and businesses to accept credit cards and electronic check payments securely through e-commerce websites. It is not a household name but it has been a back-end payments processor for a long time. Authorize.net has payment service offerings that have been primarily focused on very innovative payment technologies. It also backs these services up with advanced fraud protection features and support for recurring billing subscriptions. Authorize.net can now process payments for both physical and online merchants using a single processing engine. This payment platform is a good fit for small businesses. WePay This is another online payment platform that is regularly patronized by small businesses. WePay works in such a way that it can be fully integrated into the look of your business website thereby making an extension of your brand. This payment solution helps you to customize everything like confirmation emails, customer support emails, credit card statements, checkout forms, and even mobile transactions. It also provides on-the-go payment capability with a mobile chip card reader, fulfillment service, and mobile SDKs. This makes it possible to embed payments into a single mobile app for a better user experience. Shopify When you own a small business, you may also want to accept payments in-store just like you receive online. This is what Shopify is for. In fact, sales that you make online and in-store get synchronized through the payment platform so that you can easily track inventory and analyze the data that comes with sales. You will need this for the growth of your small business. you to build a customizable online store so that you can accept orders and payments online. It also aligns with your shipping carrier. Shopify’s free card reader is useful in accepting in-person payments. Shopify allows Flint This is a useful online payment platform for those who like the idea of accepting payments on their phones but not with attachments. Flint has an app that securely scans a customer’s credit card number without the need for an attachment or dongle. It also allows business owners to accept cash and checks. It also sends invoices and issues coupons to customers via email. There is a flat rate of 2.9% plus $0.30 for key entries, online sales, and invoice payments. This is particularly useful;l for small businesses. Choosing the right digital banking solution There are a number of digital banking solutions like Neat, Currenxie, Payoneer, WorldFirst, Airwallex, and Statrys. However, the most commonly used solutions are Currenxie and Statrys on online payment platforms. They have so many features in common that are beneficial to small businesses when sending or accepting payments. About 11 currencies can be transacted on each of them, some of which are USD, EUR, and HKD. Zero minimum balances are allowed and corporate card services are available for both of them which makes international payments or receivables easier. There are however some advantages of one over the other as they are both available on payment marketplaces like Paypal, Shopify, WeChat Pay, and Alipay. Airwallex has no sanctions and goes through even to high-risk countries, Statrys doesn’t go through to all countries, only Hong Kong, the British Virgin Islands, and Singapore. So, for a small business owner, you should choose an online payment platform after considering their Airwallex, FINTECH options to see which one fits your needs. Currenxie vs Statrys Final Word In those days, how small businesses handled payments was a basic decision like the use of cash and checks via a merchant account. The digital age nowadays has given customers flexibility in how they can pay. There are so many online payment platforms today and more are emerging with the plan to make payments easier, faster, and safe. As a small business owner, you can consider some of the options above for less fees and an opportunity to grow your business.
