Category: MSMEs And Other Business

Payment Gateway

Payment Gateway for MSMEs

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India has more than 20 million SMEs. As an online business, it’s not enough just to have a shop or website. It’s also important to give the customers the choice to pay across different modes. There are a variety of gateways for payment in India. How do choose the best payment gateway for your business?

 

Let’s roll down and help you choose the best payment gateway.

 

MSMEs and Individual Seller

If you own a business with an investment of fewer than 10 crores and several employees fall below 50 then here’s what you should be looking for in a payment gateway to go online.

Being an MSME you should be looking for a payment gateway with:

  • Cost-effective.
  • Effortless documentation and legal matters.
  • Convenient payment for customers
  • Coding free integration
  • Multiple Payment modes
  • Multiple Payment collection platforms (Social Media, Messages, Emails, and more)
  • Provides Online Store.
 

Small Business:

Do you own a general store or you are a vendor looking forward to collecting online payment? Your local store might be doing well without an online payment facility but having an online payment solution can help you boost your sales, how? What if a customer shopping at your store wants to make a card payment and you do not have an online payment feature? You will lose sales. Thus, having a payment gateway can help you boost sales.

What should you consider?

  • Providing your customers with an online payment option will be an add-on for you. 
  • Look for a payment gateway that provides not just a wallet but other online payment features like Credit/ Debit cards, Net banking, and more. Having just the wallet payment features has its drawbacks like the customer wanting to pay online might have not done KYC for wallet payment.
  • Look for a payment gateway that provides hassle-free documentation and legal matters because you do not want to visit your payment gateway office back and forth for getting your documents clear where you invest your time and money.
  • The payment gateway should be coding-free as you do not want an additional person to look after the payment gateway to resolve the technical issues.

 

Online Business:

Do you have an online business with more than 50 employees?

 

Here’s what you should consider:

You should go with the traditional payment gateway. Traditional payment gateways are time-consuming when it comes to documentation and legal matters but considering your high investment it is worth your time. Also, you need to need an additional person to look after the integration of the payment gateway. Make sure that the payment gateway provides multiple payment options so that your customers can pay with any payment method they are comfortable with.

 

 

Large Retail Chain:

Do you own a Super Market or Retail Chain?

 

Here’s what you should consider:

Online Payment is not for you. But having an online payment solution and providing multiple payment options for your customers will be a smart option. You should consider having a payment solution for collecting the payment faster and online payment will solve this problem. Traditional POS machines might be working fine but having more options will improve the payment experience.

 

Hope this helps you in choosing the right payment gateway if you are still confused just drop us your query our expert will get in touch with you.

We also provide payment gateway integration of top payment gateways at the best market rates. 

 

website

How To Build Online Business Without A Website?

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Planning to start a new online business, but do not want to go through the hefty process of website building?

We are here to solve this problem, there is no need for a website to start an online business.

Back in the old days, when internet access involved a dial-up connection, there was no other choice for companies but to sell their products and services through the traditional method–a website. 

If you wanted to have a successful online company, there was a time when you had to have a website. You either had to employ a developer, designer, and marketing specialist to get your website into the business model or learn the truth yourself to make money.

Is the website really necessary for Online Business?

Not really, you can start your business without a website by sharing your digital catalog on social media and WhatsApp. This is a budget-friendly way of marketing your business. Also, you can save the cost involved in creating a website for which you hire a website developer, hosting domain, and apart from that yearly renewal of the domain. 

When you plan to create a new website for your business, you will come across several terms like domain name, hiring a website developer and yearly renewal, maintenance of website and so on which increases the hassle and cost of creating the website. Many businesses quit before setting up the base. There are other alternatives to a website.

How to start your online business without a website?

There are two ways to start an online business without a website:

  1. Online Store.
  2. Page Builder.

Online Store: 

 

The online store provides the company with a one-stop e-commerce store to sell its products and services. On the online store, you can sell any number of products. Simply register and start adding the items to the store.

Online Store allows you to create a free web store with built-in payment options and a shopping cart in minutes to help customers buy multiple items in one go. Check out the online store features of Digital Payment Guru. Payments and shopping carts are included in your online store. To grow your company, you also get data-driven insights and a rich app store.

An online store is unlike a website, it doesn’t require you to hire a developer, a yearly renewal, and maintenance.

Page Builder:

 

Using Page builder, you can create a quick one-page website for your customers to scan before redirecting them to a payment link or online store. Customize and layout your website using our gallery Download photos, add pay buttons, and upload videos You can watch the short tutorial here to understand the process of making a page creator.

You don’t need a full-fledged website to begin your online business. In two steps, with one of our tools, you can start your business and start selling.

When you start a business without a website, it’s good for your brand. You can consider creating a website once you bring in the followers, and the revenue, generate sales, and get the word of mouth to go smoothly.

 

 

Smart Billing

Smart Billing

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Smart billing lets you create custom subscriptions for your customers and receive recurring payments. Generate personalized invoices to receive your customer’s payments on time.

We provide an easy-to-use, fast & automated platform for SMEs that charge their customers with rentals to create subscriptions & charge customers based on the billing frequency & billing cycle you create.

Subscription:

Subscriptions are essentially automatic transactions where a customer authorizes a service provider/dealer to auto-debit fixed amounts at regular intervals as determined by the contract. Digital payment Guru provides merchants with an automated, trouble-free platform where they can create recurring payment schedules for their customers, monitor the billing cycles and receive instant alerts about subscription activities. The only thing traders need to do is connect their respective plans to their customers and track their subscription activities.

Our recurring model lets you build subscription forms like Fixed billing & Metered billing.

Fixed Billing:

You can charge your customers for the items, products/services fixed in this billing type. You can set the billing frequency and period per the plan allocated to your customer.

Let’s say you create a one-year plan subscription for your customer. Therefore, for the items/services you provide to your customer, you can set the billing rate to receive payments from your customer. This frequency can be daily, weekly, monthly, or yearly, as you choose. The next thing that has set the rate is to set the duration of the billing cycle. This will determine the number of times the customer pays for your service.

For example, you want to create a broadband subscription for 1 year and want to collect the money every month. You will have to set the billing frequency to ‘monthly’ and the billing cycle to ’12 months’. Now, your customer will pay you every month for 1 year.

Metered Billing:

In metered billing, according to the use of the products/services you have provided, you charge your customer. The specification of the billing cycle & the billing rate for the billing meter is identical to the fixed billing as mentioned above.

The only difference here is that at the end of the billing cycle, you charge the customer according to the use of your customer’s items/services. So you set the customer on the last date of his billing frequency, i.e. on the last day of the month, if there is a metered billing subscription for 12 times per month. You can easily add products and update your plan according to the use of the customer and pay it accordingly.

Manage Subscription from Dashboard:

You have a dashboard that allows you to easily manage and track all the subscriptions you have made. Based on your operation, your subscriptions will have a certain status. If you’ve just created a subscription and have not delegated it to any client, the subscription will have the’ draft status.’ Likewise, subscriptions will be given, charged, unpaid, expired, stopped, or canceled.

You can handle all of these subscriptions from a single dashboard. With a few clicks, you can even send payment notifications to clients.

Quick Invoices:

Create online invoices and send invoices to your customers quickly via email & SMS and just wait for payments in your bank account. Share the customer invoice payment links and allow them to pay online. It would be easy to prepare an invoice as your customers & products are already made. To start with, you must create an invoice number that will be unique to that specific invoice. In addition, simply select the customer to whom you wish to send an invoice. Pick the billing & shipping address of the customer that you entered (when creating database customers).

To know about the payment link reminder click here

Provide Multiple Payment Options for your Customers:

There are often cases where consumers prefer to make partial payments to you. Keeping this in mind, we will allow you to create splits on your invoice’s total amount payable. For example, if your invoice’s total payable sum is Rs.1600, you can build splits of let’s say Rs. 400 each. In this way, your customer can pay the sum of Rs.1600 in 4 splits (each of Rs.400) which will enable your customers to increase their flexibility in payment and retention of customers.

Invoice Management:

From the dashboard, you can easily access every single invoice you build or issue, or just draft & save. You can access and edit the invoices that you created and did not issue to any customer.

Smart Billing advantages for retailers Receive transactions promptly Well-predicted cash flow, Strong retention of customers, Receive fast and safe payments with acknowledgment, and Real-time payment alerts.

Digital Payment Guru provides smart billing that simplifies the accounting system efficiently, with ease of operation promptly and removes the manual audit of transactions to a greater extent.

As everyone is aware, digital marketing is essential for any business with an online presence. Click here for more information on the service.

5 Trending Low Investment Businesses.

Posted on | by dpgadmin | 11 Comments on 5 Trending Low Investment Businesses.

 

Starting an online business is very much easier compared to putting up an office, hiring people, and starting a business which also consumes a lot of investment. The investment is the primary factor of this blog, we are going to discuss how you can invest less and start earning more without much of a hassle. 

When you think of starting a business online, the word online itself expands the idea as to which online business you should start up. Whichever business you start online the scope of business increases automatically with the word online. If you think of starting an online business and feel ambiguous, sit relaxed this blog is for you.

We are listing these 5 top trending online businesses you can start now with low investment. 

  1. Online Digital Courses: If you are good in a particular field and want to teach others, make tutorial videos, e-books, training books, webinars, and more on your website. There are various tools online using which you can make your e-book videos. Once you are done with creating the videos or e-books start selling them online. You will need a payment gateway integrated into your website to start accepting payments. The course you are selling can be in part or one-time payment depending on the length of your content. You can also sell your e-book or content on other e-commerce sites for more reach and popularity.
  2. Online Marketing Service: Marketing doesn’t require a huge knowledge of tools, market knowledge is what you need to start online marketing services. This is the most trending online business in 2019 as all the businesses out there require online marketing of their products because of the increase in competition. Marketing service is the business that will never go down as companies cannot succeed without marketing their products or services so they won’t run out of clients. To start this business you can own a static website that google provides for free wherein you can list down all your marketing services with rates. Or you can get a dynamic website built from Ouriken-at an affordable price and start accepting payments online with a payment gateway solution for your business.
  3. Content Writing: If you have an interest in writing this is the business you can start easily with very low investment. Companies mostly hire content writers to have quality content for their websites to get a higher SEO. Your client can also be students who start a new business and require content for their website. To expand your business you can create an account on freelancing sites or blogging sites. If you see an increase in demand add more members to your team and offer more services like copywriting, proofreading, blogging, magazine writing, and more.
  4. Click and Sell Photos: If you are passionate about photography, this passion can get you money by selling your photos online. Many people are willing to pay for good and unique photos that are of their use. You can also upload your photos on Shutterstock which is a trusted photo-selling site. You can also upload your photos on your website.
  5. Travel Agent: There are many travel agents out there selling travel packages at the best rates, you can start a business as a travel consultant displaying the agents with the best rates to the people so that they do not have to hop from one site to another. The business idea is that get all the information under one roof and show the best offer to the people or you can start your travel service.

Related Post: How to start an Online Business?

In the world of online business, there are many low-investment business opportunities. All these ideas will never scratch your pocket but can only be a secondary source of income. With all the marketing in the place payment gateway is something you will need as you are running an online business. Having a payment gateway will help you retain more customers. 

Digital Payment Guru provides payment gateway integration services of top payment gateways like PayPal, Paytm, PayU, Instamojo & Atom at the best market rates. If you are confused about which payment gateway to choose from, we can help you choose the best payment gateway for your business by analyzing your business requirements.

 

 

 

 

 

Payment Gateway features you can use to grow your business.

Posted on | by dpgadmin | 14 Comments on Payment Gateway features you can use to grow your business.

 

If you are running a business and thinking of growing it, a payment gateway is something you should definitely think of. Payment Gateway Integration is very much beneficial for businesses nowadays as it has certain features than can help you grow your business. In this blog, let’s discuss these features and how it can benefit you.

  1. Recurring Payments: The most hectic task for any business is to collect repeated payments. The recurring Payments feature helps you manage repeated payments easily. You can ask your customers to subscribe to recurring payments. Once set up, you don’t need to send payment reminders to your customers, the amount will be deducted from customers’ accounts on a fixed date every month and transferred to your account automatically.
  2. International Payments: If you plan to expand your business globally, Payment Gateway can help you collect payments from around the globe. Expanding your business globally can help you increase your business reach and generate more revenue. Payment Gateway provides multi-currency support as customers would want to come back if they can make payments in their own currencies. 
  3. Same-Day Settlements: Small Businesses rely on daily sales to manage their cash flow and plan out things accordingly. As merchants have to wait for the amount to be reflected in their bank account from the merchant account it becomes difficult for them to manage the cash flow. Same day settlement feature helps you get the money into your bank account on the same day when the customer makes payment. Thus having a payment gateway can help you manage your cash flow and plan out things accordingly.
  4. Payouts: If you are running a business at times it can happen that you might get very much busy with work and forget to release the payments to different accounts and by the time you realize bank hours are over and all that you can do is wait for the next day to make the payouts. With the Payouts feature, you can not only send bulk payments to different accounts using various online payment options but also track the payment and download the transaction reports at the same time. This can help you manage payments and grow your business.
  5. Update bank account yourself: If you ever wish to change the bank account, there is no need for you to worry about uploading the documents again or calling customer care, you can simply update it by logging into your payment gateway account and updating the bank details and you are good to go.
  6. Customer Service: Customer Service plays a vital role in the online payment cycle. It assists your customer if they are stuck in between payment processes or have any queries related to payments. Customer service can also help you with customer retention.

Related Post: How to start Online Business.

With the Integration of Payment Gateway into your website, you can automate your payment procedure and increase your business reach which can help you grow your business.

Digital Payment Guru provides payment gateway integration services of top payment gateways like PayPal, Paytm, PayU, Instamojo & Atom at the best market rates. If you are confused about which payment gateway to choose from, we can help you choose the best payment gateway for your business by analyzing your business requirements.

 

 

What Is A High-Risk Business?

Posted on | by dpgadmin | 7 Comments on What Is A High-Risk Business?

 

Some Online Businesses and industries are treated as high-risk businesses by payment processing companies. They are categorized as high-risk businesses depending on several factors such as the chargeback ratio of a merchant, times the product is returned, or payment processing history. Considering these factors, payment processing generally does not prefer to provide its services to high-risk clients.

High-Risk Factors:

Merchant account providers and Payment Processors consider a business as high risk if it has a higher chargeback ratio, The customer makes a credit card payment and cancels it when the merchant has received the payment, Refunds for the returned products, and credit card fraud. Companies having a bad credit history and those which provide no guarantee for loans are also considered high risk.

What is High-Risk Payment Processing?

 

Any business wanting to start an online payment first needs to have a merchant account. A merchant account has 2 types, low-risk merchant account, and high-risk merchant account. If you run a low-risk business which means your business is not involved in any of the above mentioned factors then you can easily approach the payment gateway service providers and they will easily offer their services. But, it is not the same with high-risk businesses. The high-risk business has all the factors mentioned above because of which such businesses find it difficult to get paid service providers as they do not want to serve such businesses.

The business that is categorized as high risk has a higher possibility of an increase in a chargeback. This also leads to higher payment processing fees which relate to risks involved with such businesses.

High-Risk businesses pay high chargeback fees, payment processors put a reserve on merchant accounts which can be used by acquiring banks to compensate for the chargebacks. With this practice, an additional layer of protection is on offer on the bank’s side against any unexpected behavior from the merchant.

If you run a High-risk business the best solution is to maintain a good relationship with payment gateway providers that specialize in such businesses. These payment gateway providers can help you monitor suspicious transactions.

Types of business considered High Risk:

When you apply for a merchant account, you go through an underwriting process with a payment processor. Different processors have different standards, so even if there are some similarities in your business but the following things that can put your business in a high-risk category.

  • Bad Business or Personal Credit Score: Bad credit score is a negative impression for payment processors as it is considered that you are not good at managing your finance or are more susceptible to fraud.
  • Merchant Account History: This shows your record stating a history of chargebacks or frauds with another merchant account provider, if there are any it will create a negative impact on your application.
  • Years in business: The older business you have the better impression you have on the merchant account provider. Merchant account providers are more careful with customers having less experience in the business.
  • Headquarters Location: If you provide service to another country where your headquarters isn’t then you are more prone to fraud.
  • Questionable Products: This completely varies for different payment gateways, but the best example is gambling, as it is illegal in some countries.
  • Huge purchase amount: If you have an unusually high average purchase amount, there are more chances of fraud because of which it can be considered as a high-risk business.

It might seem a bit unfair for High-risk businesses as the payment processing is expensive for such businesses. Many payment processors will not want t work with you but also there are many reputed service providers that can take your business. Do some research, evaluate your ideas, and be careful with the term before signing.

 

How to start an online business?

Posted on | by dpgadmin | 7 Comments on How to start an online business?

Many people want to start selling their products online but, there are many questions that run into their minds:

  1. How to get started?

Well, initially you should analyze your position in the market and how you are different compared to others. To do so there are various factors, some of them are:

  • Price
  • Marketing
  • Features
  • Technology

The moment you get to know where you stand in the market, the next step is to convey your products to people. You can do this by talking with people about your products, by creating your website or by creating a portfolio of your business and sharing it on social media so that your business reaches to maximum people. This should be your first step as it is the most effective.

Related Post: How is payment gateway beneficial for B2B Companies?

  1. How to increase your products reach?

Not all people are active on social media or are familiar with social media but want to increase their business reach. Thus, it is important to analyze what people want, also, if your product has some features that others don’t then stress on that particular feature more than others. The most efficient way of getting started is:

  • Ask the people who have used your products to share their experience. It is always a better way of promoting your business from your user’s experience than by yourself alone.
  • Create your business page on social media and invite your friends to like your page. Post regarding your products on your page and ask your friends to share those posts.
  • Create content for your product, this content can be shared on relevant business websites where people usually search for the products that you are offering. This will also give a backlink to your business which can help in boosting your business up.
  • Write effective blogs with your success story, share such blogs on blog sharing sites like a medium where people always look up for motivating blogs. Also, share your blog on social media so that it reaches more people and they can share your story with others.
  • Run Facebook ads and Google ads for your products, Digital Marketing is the best way to increase your business reach. Also, it is a cost-effective and easy approach.Digital Marketing
  • Finally, references are the best way to boost your business. You can get as many leads and customers from your campaigns but there are only a handful of customers that give you an effective business. Always take feedback from such customers because they will definitely refer their friends which makes a lot of difference from getting leads through campaigns. Remember, Client Acquiring is done at the start of the business but Customer retention is much important for the growth of the business.

Related Post: Digital Payments for successful E-Commerce Business.

  1. How to remain competitive in the Market?

Once you have achieved your position in the market, now it is important to maintain your position and not letting it harmed by competitors. To do so, always have a good team to handle different aspects of your business rather than you handling everything alone. Get a payment gateway integrated into your website to make your website payment-enabled so that people can make payment for your products from the website. Make sure the payment gateway provides multiple payment options providing convenience for your customers to make the payment from the mode they are comfortable with. Ensure that your team brings something innovative to the desk so that more customers are attracted to your products.

 

payment gateway

How to Reduce Online Shipping Costs for Small-Scale Businesses?

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Basically, charges for shipping/delivery that a includes on its bill are taxable only if the product that is being shipped/delivered is taxable. The terms shipping/delivery also include charges identified by terms such as transportation, handling, or postage.

Shipping is the most cost-consuming expense, especially for small-scale businesses. It is very challenging to reduce shipping charges if your business sells physical products. Over 30% of customers cancel or abandon their cart after looking after the shipping prices they have to pay for the products they ordered. Customer satisfaction should be the first priority for any business brand. Surpassing customer expectations and satisfaction with services or products supplied always leads to gains and profits for the company. Therefore keeping customers engaged during the checkout process is through having a good grip over the shipping process.

Shipping tax or costs not only include the amount associated with shipping but also the cost required for the supplies during the transportation of products. So how small-scale businesses or startups can reduce shipping costs without any losses but can also attract and satisfy their customers?

Here are some ways to Reduce Online Shipping Costs for Small Scale Businesses :

Use a shipping calculator:

 

A shipping calculator is a software solution built for the purpose of making shipping rates and service details available for online users in a meaningful way. It is not too common in small-scale businesses as they shift the decision of calculating shipping costs to your customers. Many people have a misconception about losing money in this but it is nothing to worry about as no money is lost. On the bright side, many businesses have started using shipping calculators to promote transparency and clarity with their businesses. This helps customers to understand clearly why they are being charged a particular amount as the delivery cost. While assessing the cost variation of the delivery area from the warehouse shipping calculator is useful.

Standard postal services:

For small-scale businesses who are starting out recently with small quantities, it is best advised to use standard postal services for shipping. The primary function of the Post Office is the collection, processing, transmission, and delivery of mail. All postal articles whose contents are in the nature of the message can be classified as mail which includes Letters, Postcards, Inland Letter Cards, Packets, Ordinary, Registered, Insured, Value Payable articles, and Speed Post. It is a government service, the cost is low and one can also control their logistics working.

Prepaid shipping:

Sometimes, when the shipments are prepaid, shipping providers provide discounts and lower costs. This way a company can buy labels and stamps in bulk amounts and fix them for packaging even before they are ordered. This way time is consumed and the company works in an organized manner without any difficulties while shipping.

Introduce Flat rate shipping:

Flat rate shipping includes a lot of indirect values of cutting down the delivery charges. Basically, it means having a standard amount of charge no matter what the size of the product or package is, small, big, or medium. This attracts customers more and gives them a chance to order as many as products they want in the maximum amount, they are going to get charged the same. Not only that but flat-rate shipping helps promote your business’s order size.

Recycle your packaging:

This will be the perfect time to use your Eco-friendly card. Using Eco-friendly packaging material not only saves your money but also nature. The smart way to reduce shipping costs is by reusing packaging material from the returned products.  Bubble wraps, shreds, and polystyrene can be recycled and used again for packages. As a bonus, this reduces your garbage and helps the environment.

Get familiar with your online shipping reps

Representatives of major shipping carriers negotiate rates and help businesses understand the entire shipping process. These agents play an integral role in completing the shipping process. It will prove beneficial for you if you search for the right representative for your business who will get discounts and the best rates. Stay in touch with these representatives to be updated about the different rates, revised pricing, and shipping rules.

 

payment gateway

How Is The Payment Gateway Beneficial For B2B Companies?

Posted on | by dpgadmin | 10 Comments on How Is The Payment Gateway Beneficial For B2B Companies?

 

Payment gateway became necessary for B2B companies with the rise of digital payments. B2B companies are switching to digital payments to simplify their daily business operations. B2b companies have a greater liking for digital payments over traditional payments.

There are still several companies that prefer traditional methods through checks and cash, whereas digital payment methods have made online payments easy with various payment modes like UPI, Netbanking, and Credit/Debit cards.

How did B2B company’s transaction work?

Well, a transaction is called B2B when one of the businesses acts as a customer to another business, the transaction can involve services like development, email tools, and more, or can involve parts and units. With the growing business, managing payments of vendors and suppliers through cash and check becomes a difficult task.

Why should B2B companies have a payment gateway?

During the purchase of supplies and services businesses usually, prefer to make bulk payments. They look out for multiple payment modes and want to be sure their payment is secure. They want to have track of these payments and also they want to trust their business partners.

Well, all of the above mentioned things are not possible with traditional payments, in fact, there are more cons in traditional payment methods as the check gets bounced, cash is difficult during bulk transactions. Thus, having a payment gateway simplifies these problems by providing complete transactions and providing multiple payment modes which can increase customer footfall for the B2B industry.

 

Benefits of B2B companies having a payment gateway.

In business, your Time is Money and the payment gateway handles both these entities. The ease of payments with lesser errors enables B2B companies to accelerate their transactions from vendors to suppliers. Following are the benefits of having a payment gateway.

  1. Saves Time and Effort by providing a payment button by clicking on which payments can be made thus eliminating the efforts of handling paper checks.
  2. Guarantees the payment from the buyer to the seller.
  3. Trackable goods and services and payment notifications.
  4. All online payments are secure giving the seller confidence to do business with new parties.
  5. Faster payment collection with guaranteed to reach clients at a specific period.
  6. Hassle-free payments by eliminating the security risks associated with cash payment.

Why Switch to Digital Payments from Traditional Payments?

In traditional payments dealing with cash and checks can get tedious at times, also drawback is physically mailing the invoices to the clients which consumes a lot of time and effort. Payment gateways eliminate this process by providing payment automation wherein your clients get a notification for payments they make thus avoiding the hassle of managing cash, and checks and physically sending emails.

Related Post: Digital Payment Gateway for Successful E-Commerce Business

How do B2B companies use payment gateways?

online payment

Integrate a payment gateway into the website:

Many companies integrate a payment gateway on their website allowing the customers to make a purchase from the website. This also allows them to choose from various modes of payment like credit/debit cards, net banking, and UPI. Most business also provides NEFT.

Add bank details on the website or email bank details:

Many companies provide bank details on their website or in the pricing section which is added to the account to transfer the amount. Some companies email their client bank details to receive payments.

Payment Links:

This is the easiest way of collecting payments, B2B companies share the payment link on social media platforms like Facebook, Whatsapp, and SMS. Customers can click on this link and make payments. Payment also offers customers to use multiple payment modes to make payment.

Recurring Payment:

B2B companies provide recurring payment set up for their client so they do not need to worry about paying at regular intervals. Recurring payments are basically instructions sent to the bank to debit the amount at a certain date.

How Digital Payment Guru facilitates B2B companies?

Digital Payment Guru provides top payment gateways like PayPal, PayU, Instamojo, Atom, and Paytm at the best prices compared to market rates. We help you choose the best payment gateway according to your business by analyzing your business needs.

 

Technology Trends Impacting Small Business Payments

Posted on | by dpgadmin | Leave a Comment on Technology Trends Impacting Small Business Payments

The rise of affordable and innovative small business payment solutions has surfaced the playing field between small companies and large corporations.

Instead of having to spend lots of money on solutions that are regularly needing to be upgraded, payment innovation has given enterprises of all sizes access to the latest technology and the same processing charges as the biggest players in the marketplace.

With that being said, many small business owners are convinced to use old payment systems and outdated technology. If you aspire to break out of the status quo and embrace the future of tech.

Here are five payment trends you might want to consider:

Mobile POS

Mobile, mobile…mobile. We’re stressing this one because this trend is here to stick — in considerable part due to its ever-evolving possibilities. From mobile payment apps and integrated mobile payments to mobile POS terminals, small firms can get quite a bit of bang for their buck by implementing a mobile payments strategy.

To begin, mobile credit card processing is a way for small businesses to worry less about where they’re physically conducting business, and concentrate entirely on what type of payment experience they’re providing their customers. This includes features like the capability to text/email receipts and the opportunity to integrate better, faster, and more secure payments.

Beyond the convenience perks, mobile POS solutions provide enhanced safety measures to fully protect your business and your customer’s data. Eventually, mobile payments give you that extra peace of mind.

Digital Payments

Speaking of mobile, the next trend prolongs to the other side of the payment innovation equation: Digital payments. Customers today are catching onto the latest payment trends, and many have started ditching the need to pull out a credit card for every purchase. Digital payment methods have enabled quicker, more secure payment processing that streamlines the online shopping journey.

Various big businesses caught onto digital payments years ago. Small businesses need to follow suit if they want to find a competitive and stay ahead of what customers are expecting now. From in-app payments, one-click payment buttons, and P2P payments, small businesses have a number of opportunities to take benefit of in order to better tailor their payment options for their customers.

As credit card crimes continue to dominate news headlines, consumers are looking toward businesses that rely on better payment technology. Obtaining this can be done using digital payment terminals that offer end-to-end encryption and tokenization. Digital payment methods extend the same security benefits, while also granting cardless ways to pay for products and services. For consumers who don’t want to grab that credit card each time they make a purchase, integrating digital payment methods is a surefire way to fill that gap.

best payment gateway integration

APIs

Fortunately, with easier and more efficient integration options now in the market, SMBs can – and should – take full advantage of the power of APIs. Today, there are solutions that make receiving in-app and online payments easier than ever before.

Toolkits, drop-in code, and readily available tech support — like that provided by Digital Payment Guru — is the type of technology that small businesses should be harnessing today. Payment processing services shouldn’t be confined to what offerings your financial institution can provide to your business.

The API trend and recent innovation have encouraged small businesses to integrate more dynamic payment processing features across all of their channels. This technology transformation has also helped businesses connect their in-store and online software so that each system is in sync with the other.

Automation

Another key trend that companies should take advantage of is the ability to automate services — including payments. From recurring billing to subscription services, small companies can find tons of undiscovered value by leveraging automation to streamline payment processing.

Automation can also help businesses rightly connect with their customers. Having the ability to constantly communicate with your customer base is one of the best ways a small business can stay top of mind. Consumers aren’t always going to remember to come back to your physical or online storefronts — you’ll need to nudge them with reminders. Frequent communication can be automated to help you reach customers without investing heavily in mass advertising platforms.

On the payment processing side, manufacturers that already leverage recurring billing services have learned the power of automated payments. Not only does this help keep consistent revenue flowing into your business, but it can also help keep your best customers loyal to your brand. Consumers are eager to regularly engage with their favorite brands, products, and services, but often forget to do so. Solve that by taking the hassle out of the process and offering your consumers a way to become a subscriber. They remain connected to your brand, and you constantly get paid. That’s a payment tech trend that’s absolutely here to stay.

A few essential tips for choosing an online payment will help you avoid the trend affecting your business.

To know if your payment is secure on the internet click here.