How to make online payments easy for your customers
Are you looking to expand your online payment options? Here’s how you can make digital payments a seamless and smooth experience for your customers.
There has never been a greater need for businesses to be able to accommodate digital payments. Even before the pandemic, cash payments were on the decline with just 30% of in-person payments in 2019 being made with cash. In light of the COVID-19 crisis, that number has no doubt dropped even further.
Here we explore ways businesses of all types and sizes can make digital payments a seamless experience for their customers.
There are many pros for business owners when it comes to offering digital payments instead of cash.
To further incentivise customers to adopt online payment methods, the Australian Payments Network has extended the temporary limit on tap-and-go payments from $100 to $200 until 17 December 2020.
But, of course, for customers there are many more benefits to going cashless:
Regardless of whether your business makes sales out of a bricks-and-mortar space or via an online store, it's important to eliminate as many barriers to purchase as possible. This means lowering minimums to pay on cards and offering your customers different options for paying digitally.
If making a sale in person, offering the most common tap and go options should cover most bases. You could also consider lowering minimums to pay digitally and eliminating transaction fee charges to make paying cashless more appealing.
If your sales occur online, there are a few things to keep in mind:
Need help getting setting up digital payments for your business? Start by applying for a Westpac business transaction account.
We may still be a long way from becoming a cashless society, but COVID-19 has accelerated the trend towards digital payments. With so many benefits to both business owners and customers it makes sense to make online payment a core part of your merchant offering.
This article is a general overview and should be used as a guide only. We recommend that you seek independent professional advice about your specific circumstances before acting.