Whether you are a B2C or B2B business, managing payments can be a demanding task. The amount of clients you have, their location, their method of payment and their reliability are all factors that can contribute in causing confusion amongst your accounts team and setting your business back financially. Payment gateways have emerged as a dynamic tool that take a great deal of manual work out of chasing up and managing payments.
Some of the benefits of implementing a payment gateway include:
-Convenience – One of the key benefits of payment gateways is that they can be used by businesses and clients at anytime and from any location.]
-Saves time – Organising payments through a gateway saves a significant amount of time, with transactions taking just minutes to process.
-User friendly – Majority of payment gateways present a simple user interface that is easy to navigate through, even for those who struggle adapting to new technologies.
-Secure – Using a payment gateway, there is less chance of theft, loss or fraud. Transactions are thoroughly checked and validated and login details are often required.
-Customisable – A variety of payment options for customers, a number of features and the ability to allow merchants to decide how payments can be received.