Still Using Paper Invoices? How You Can Convince Your Clients to Pay Online
It is really no secret that we are moving towards a completely digital economy. Nowadays we can store payment information directly on our mobile devices. Additionally stores across the world are shifting towards online and mobile payment acceptance. That all said, it’s important for both merchants and customers to start moving with the times. Unfortunately many people are still a bit shy to ditch cash and paper checks. When people think of the internet and payments they grow wary of the dangers of fraud.
As a business owner you need to do whatever it takes to stay up to date with the markets and current technologies. If payments are moving online, you need to be able to convince your clients to move with you. Otherwise your cash flow may suffer. Here’s how you can convince your clients to pay online if you’re still using paper invoices.
It’s Quick and Convenient
Everybody loves convenience. In fact, many people pay a premium for convenience. Luckily for your customers they won’t have to pay any extra in this case. Online payments give your customers a quick and easy way to make payments. In a traditional payment scenario your client will have to wait days for the invoice to arrive at their house. Since most business owners may not even start work until they receive payment, snail mail will only delay the project for everyone. In this case you can explain to your client that online payments will ensure projects get started right away.
Ensure Your Clients That Online Payments Are Secure
The main turning point for your client’s opting in to online payments is security. While cybercrime and online payment fraud is definitely an issue it’s by no means worse than payments offline. Paper checks and invoices can get easily stolen in the mail. Additionally making credit card payments in person isn’t necessarily foolproof.
In fact, a 2014 WIRED article details several cases where credit card information was stolen directly from point of sale systems at well-known retailers. The article goes on to say that online transactions typically have more security measures in place than offline. That said, it’s actually safer to make payments online than the latter.
Choose the Right Payments Platform
One of the best ways for you and your customers to fully adopt online payments is to choose the right payments platform. Depending on which platform you go with you’ll likely have different options when billing customers. Many of the most popular payments solutions and payments tools will offer products like online invoicing and expense management.
In addition to looking for the right products you should also make sure they offer a wide variety of payment acceptance. Beyond credit and debit cards you should look to accept eChecks, ACH transfers, mobile wallets, and even cryptocurrencies. The more options you can give to your customer the better off you are.
Last but not least you need to make sure your platform is secure. Make sure the company adheres to PCI-DSS compliance and uses security measures like encryption and tokenization. If you’re able to offer your clients a more convenient and more secure way to make payments, how can they say no?
Moving clients from traditional payment methods over towards digital ones will surely take time. That said, it’s important to start that process now if you haven’t already done so. If you’re clients need some extra convincing you should reference this article and have them move with the times!