Unlocking Convenience With Small Payments
Increasingly, consumers want speed and convenience in their transactions. Instant payments, whether mobile wallet-based or online payments are a way for businesses to offer just that. They also empower small businesses to be more financially agile, so they can seize opportunities and respond to unexpected expenses. This is a win-win for all parties. 소액결제 대행사 종류 1. Small Payments Boost Customer Satisfaction
Most business owners don’t realize that customer satisfaction is highly influenced by payment and billing procedures. If a buyer is not satisfied with the way their purchase was paid for, they are likely to abandon their purchase altogether.
Customers today expect a fast and convenient checkout process that is streamlined across platforms. Achieving this requires an innovative solution that is both secure and flexible enough to meet the unique needs of each business. Small payments are an ideal solution for boosting customer satisfaction because they allow buyers to pay in a way that is easy for them and the business to manage.
Satisfied customers are more likely to remain loyal and recommend the business to their friends. They are also more likely to spend more money with the business, as they know they will receive a good value for their money. In fact, value is now a larger driver of satisfaction than product and service quality or expectations. This shows that companies need to focus on their value propositions more than ever before. Achieving this will increase customer satisfaction and drive market share growth. 2. Small Payments Increase Convenience
People value convenience, and they reward businesses that offer it. Customers want shopping, reaching support teams and paying to be as quick and easy as possible. But for small business owners, the high processing fees that come with these digital payments can quickly cut into profits and put them in the surcharge vs convenience fee debate (which isn’t allowed in ten states and one jurisdiction).
Swift’s new low-value, cross-border digital payment solutions reduce these fees so you can provide maximum convenience to your customers without cutting into your bottom line. 3. Small Payments Increase Customer Engagement
The Temkin Group has found that customer experience is the number one driver of loyalty. Providing a meaningful customer engagement can help your business stand out from the competition and build brand recognition. In the payment world, this means offering a variety of payment options for your customers to choose from.
For many businesses, ACH (Automated Clearing House) is the ideal option as it enables low fees and direct bank-to-bank transactions. Other popular choices include credit and debit cards, which offer convenience, speed, and security. Mobile payment solutions like Apple Pay and Google Wallet are also growing in popularity as they allow customers to purchase on the go with a simple tap.
If you operate a small eCommerce business, consider adding buy now pay later (BNPL) as an additional payment option. This feature gives customers the freedom to finance their purchases over time, while helping businesses boost their bottom lines. For example, Markesha Tillman, founder of women’s affordable clothing eCommerce site The Slay Brand, says she saw her revenue increase by 20% to 30% after implementing BNPL with FinTech provider Afterpay.
When your customer is ready to make a purchase, it’s important that the checkout process is as seamless as possible. This means optimizing your website for mobile devices to ensure a smooth, user-friendly transaction. It’s also helpful to offer an in-app purchase experience so that your customers can buy from you without ever leaving your solution. In addition, incorporating a “one-click” payment option on your website will improve the experience and reduce the amount of data needed to complete the transaction. 4. Small Payments Increase Sales
When customers have a wide range of payment options to choose from, it removes the friction and hassle they face during transactions. They are more likely to complete a purchase because they have the option to pay with cash, or even finance large purchases on credit so they can spread their payments over time. Small business owners are also more likely to collect and manage payments if they offer multiple payment options. In fact, the research by Weave found that small businesses that offer four or more payment types receive 7x more annual revenue than those who only accept three forms of payment.