When businesses accept payments from customers, they need to offer as many options as possible for their customers’ convenience. E-commerce businesses in particular are most successful when they are willing and able to meet their customers’ needs by accepting payments from multiple credit card companies, PayPal, digital currencies, and even foreign currencies. However, using a unique platform for each payment method can become unwieldy and expensive. The following are the top benefits of using an all-in-one payment platform like BlueSnap.
Convenience For The Customer
Businesses need to meet customers where they are rather than asking customers to accommodate them. An all-in-one payment platform that includes a comprehensive variety of options makes it easy for a business to offer convenience to customers, who might otherwise turn away and find an easier option.
Consistency For The Customer
With a single payment platform, customers have the same experience no matter how they choose to pay. This creates a comfortable and confidence-building experience for the customer, who knows what to expect from every transaction.
When a customer requests a refund from a business using multiple payment gateways, it can be hard for employees to track the original sale. Refunds are much simpler when businesses use an all-in-one platform because all the information is in the same place.
With multiple payment systems, multiple accounts have to be reconciled at the end of the month. This makes accounting more time-consuming and more of a challenge. A single payment system brings all accounts under one umbrella, making them much easier to deal with.
When all payments are processed by a single system, the business may be able to take advantage of a discount based on their volume of sales. With different payment systems, their sales are spread out into individual streams, each of which has a lower volume than total sales.
These are just a few of the reasons why more and more businesses nowadays are opting for an all-in-one payment platform. They enjoy the simplicity of working with a single payment stream, and their customers appreciate having a user-friendly payment system that allows them to use their preferred payment type.