You Should Introduce Additional Payments Methods Like ACH Credit!
Nowadays, most online businesses only accept credit card payments. Although this method is very popular. And the number of people using bank cards is very high. But there are still many who do not have credit cards, or they do not want to use it for online shopping. So, your company should also take them into consideration and introduce additional payment methods like ACH credit. If you have several payment methods, then the number of potential customers will rise significantly. But you do not want to overwhelm your potential customers. So, you should not introduce a dozen different methods. A few of them are enough.
The ACH method is one of the best alternatives because it offers several benefits not only for your customers but for your company as well. From this point alone, it would bring you more benefits if all your clients would make payments through it. But that is not possible, and the most popular method remains the credit card. So, you need to adapt and introduce both payment methods at the same time. The best alternative on the market is to find a reliable payment processing company that can help you with all the tools that you need. Not only will you be able to introduce several different payment options. But you will also get additional features that will help you grow your company at a faster rate.
Benefits That Your Business Gets from the ACH Credit Method!
The reasons for which ACH credit should be one of the first payment methods that you should introduce are the benefits that it provides. As a company, you should use this opportunity to increase the growth rate of your business through these methods. But what are the exact benefits that it offers? Well, there are four essential ones. Besides those, there are many other small benefits that you can get. But they mostly depend on your industry and company. But these four main benefits will be clearly seen for any business that introduces ACH as an additional payment method for their customers.
• More leads. As mentioned above, there are still many people that do not have credit cards. If your only method is that, then you lose many leads for this reason alone. Introducing ACH as a payment method will give you access to all the leads that can pay through it. So, you will have more leads and, in the end, more sales and revenue. So, you will be able to grow your business a lot faster than before.
• Fast processing time. You should know by now the processing time required for other payment methods. It generally takes three to five days for your money to reach your account and be ready to use. So, having a method like ACH, which has a short processing time, will help you manage your finances easier. Keep in mind that all payments made through this method will be processed on the same day.
• Lower processing fees. The fee that you will have to pay for every ACH transaction is on the lower end of the spectrum. So, your costs will be reduced, and the profit of your company will rise. The difference may not be very large by itself. But any reduction in costs will accumulate, and your business will be able to make a lot more money than it could without these reductions.
• Increased security. The ACH method is one of the most secure payment methods, and it does not require additional services to increase its protection. There are two reasons for that. Firstly, no one else can make a payment besides the owner of the bank account. Secondly, no card, that can be lost and used by the finder is needed. So, you will never have a security problem while your clients are making payments through this method.
Benefits of Having More Options Besides Credit Card Payments!
Although the credit card payments method is not perfect. It is an essential one. Without it, most online businesses will not be able to survive. So, you should never try to replace it, even if it can cause small inconveniences for you. What you can do instead is to use the services of a payment processing company to solve these inconveniences. And introduce more payment methods to diversify the options that your potential customers have. There are several benefits that your company will get from doing this.
• Increased conversion rate. In many cases, your potential customers are convinced to buy a product or service from you. But you can't accept payments through the method they use to pay. So, they will probably look for one of your competitors who can accept their payment. But if you introduce more payment alternatives, then your conversion rate will increase. Why? Because a bigger part of your customers will be able to buy from your company.
• Increased credibility. Nowadays, most online businesses understand the importance of their brand credibility. And they are looking for methods to become more credible in the eyes of their potential clients. And one of these methods is to have multiple payment options for your customers. This will create an image that will make your company look more legit in the eyes of the first-time visitors of your website. And will make it easier for you to gain their trust and make them buy your products and services.
• Faster growth rate. This benefit is a result that you will get from all the other ones combined. The increase in revenue and profit will allow you to invest a higher amount of money in growing your business. This will increase the potential of your business, giving you the possibility to become the leader in your industry at an accelerated rate. And you can get all these benefits simply by using the services provided by a payment processing company to introduce new payment options for your clients.
