Leverage Electronic and Alternative Payments, Gain Marketplace Advantage

Posted by Joe Musitano on Sep 12, 2017 2:42:15 PM

alternative paymentsMany merchants consider credit card processing fees as simply that... fees that are a normal part of doing business and a cut to their bottom line. But we challenge you to view credit card processing in a different light: As an opportunity to attract newer customers, increase shopping cart size with integrations, accept alternative payments and provide innovative and secure developments. 

Earlier this year, Solupay was named 2017's Innovator of the Year because of our ability to focus on new and advanced features that are designed to not only make our clients operations easier, but to contribute to increasing their revenues.

Financing Options
A revolution has occurred in financing. Gone are the days when financing purchases was reserved for large ticket items such as cars, fine jewelry and mortgages. Gone are the days when 10 page credit card applications and near perfect credit card scores were required to consider financing. Thanks to Affirm, financing purchases at checkout is simple for both consumers and for merchants. Your client just enters a few pieces of information for a real-time decision, enabling them to buy what they want today and pay over time—boosting your conversion, revenue, and customer loyalty.

Increase Cash Flow
It's not often you hear a payment processor that touts "cash is king." We have taken on the philosophy that while it is hard to argue that cash in hand is ideal, offering flexible payment options is the only way to grow your revenue in the new economy. However, getting paid faster should not be ignored. With invoicing and quoting solutions that allow for immediate payment options, you minimize the sales cycle and the amount of time to get paid. The secret to quickly converting quotes to cash lies in the tools you use. Our eQuote-2-Cash and eInvoice-2-Cash innovations for NetSuite users do just that for merchants.

ACH Acceptance Increases Sales
ACH (Automated Clearing House) payments have become popular largely because of their convenience, reliability and cost-effective solutions. ACH is a payment solution that accepts payments by moving funds from one bank account to another electronically through routing numbers. ACH is just one of many ways your payment offerings can make customers happy while also making your revenue and sales numbers increase.

Related Article: 4 Ways ACH Will Actually Advance Sales

Security is not an Obstacle to Increased Sales
Security at checkout online used to mean abandoned carts and lost customers. The challenge to merchants is creating an e-commerce checkout that has an easy payment acceptance process, but also has security features built in to not only protect customer data but to protect your business from card fraud. Enter 3D Secure Advanced, another tool that not only guarantees your security, but keeps the checkout process easy on your clients, boosting sales.

If your payment processor is focused on percentage points and transaction fees, and not much else, it's time to reconsider your solution. Look for an innovator in the industry who not only works with you to lower your interchange rates, but provides tools to boost your revenue and experience some real gains.

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Topics: Integrated Payments, Alternative Payments