Why You Should Have Online Payment For Your Online Store ?
The more payment options you offer to your buyers means you get more chances of earning money form their pockets.
Most of the online store sellers usually ask customers/buyers to make payments using ATM funds transfer or depositing cash at the machinse. Sellers have to spend more time and effort to confirm the payment with their customers/buyers.
How to double confirm payments?
1. Phone calls
2. SMS notice s
3. Emails
All of these confirmation methods is time consuming and cost you money. These invisible cost will eventually all go to your online business cost.
Imagine you got an order for your online store but due to your inconvenience payment option your customer can not make the payment immediately. It means you still can not earn the money yet. Waiting and confirming your buyers' payment is just like taking the risk of losing the sales.
Why? Some of the buyers take more than a week to complete the payment process, you have to reserve the items for the customers. During this time, you might lose another potential buyers if your stock is not really a lot. ( It is recommended that beginner online sellers keep less stock at the beginning state of selling) Buyers/ customers might not make the payments if she / he found another store sells cheaper or higher prices but with easier payment systerm. You will definately lose the chance of making money.
Don't wait again. Go and get an online payment systerm for your store. It won't cost you much.
Paypal is free. All you have to do it register an account and you are open one more payment option to your customers. why don't you used this free service to help you to make more money?
Most of the online buyers in Malaysia still don't have a Paypal account. They think making payments with their credit card is much more easier. Here, I can suggest you to open a beginner level account with iPay88, it is called " SOHO Plan merchant account". It can help you to manage your online payments. You have to pay just once for the setup cost RM488. No yearly maintenance fee. Each of the transaction, your sale income will be deducted 4% as online payment processing fee . For example: you get sale of RM 100, you will receive RM96.00 in your bank account.
