The Best Methods for Accepting Online Payments
Brands large and small all have their roles to play in the world of e-commerce. Even non-profits, charities and blogs not driven primarily by direct payments find themselves needing solutions through which to accept money in today’s world, which makes it very essential to adopt a solution that matches a brand’s needs.
There are numerous online payment method solutions, but not all are guaranteed to be what a brand needs – or even necessarily wants. A variety of factors must be considered, including payment flexibility, fees, processing times and existing rates of adoption.
Today, we’ll outline the best online payment methods for brands seeking to accept payments, whether it be for products, services or even as donations.
Arguably the most popular online payment solution, PayPal became famous through its former association with eBay. Today, hundreds of millions of people use PayPal, which along with its ability in allowing vendors to process credit, debit and electronic check payments, makes it arguably the world’s most popular option. Rest assured that if you’re pinging your website with a PayPal logo, users will feel comfortable making purchases or donations. PayPal’s fee structure is comparable to most other online payment solutions, meaning it’s hard not to justify accepting this form of payment.
As Amazon continues to grow, so do its auxiliary services. Amazon Pay is a relatively new payment solution that allows people to pay simply by logging into their Amazon accounts. Given the number of people who shop with Amazon, there is a massive number of people who can instantly pay via this solution. Amazon Pay is very easy to setup with any website interface, while also offering flexible payment options such as one-time and recurring payments for subscriptions. It’s also simple to handle refunds if and when necessary.
Those seeking to target mobile users specifically and make it easy to process their payments will appreciate the simplicity of Braintree. A subsidiary of PayPal, Braintree is essentially a more complex version of the popular system. With this option, processing larger payments and handling foreign transactions occurs without the complications and hiccups that often come with PayPal payments in these situations, as it is a complicated process to get approved. Braintree focuses immensely on security and also allows brands to integrate it with solutions such as Google Pay, Apple Pay and merchant card processing solutions.
If the payments your brand processes are for memberships and subscriptions, then you won’t necessarily be handling a lot of one-time or simple payments. GoCardless is an excellent option whenever the people pinging your website are paying for recurring services or products (or making recurring donations). Best of all, GoCardless offers a standard package that comes with no membership fees or costs. It also offers more premium options when add professional elements such as custom payment landing pages and email alerts.
With so many payment solutions available online, it’s hard to know which to pick. Many payment processors offer different benefits for different niches, but these 4 are among the best in each class. By using one or more of these integrated solutions, you’ll be able to accept donations and payments with ease.