Successful businesses always have a recurring characteristic: they meet the needs of their customers.
Competition has never been fiercer. Your customers are searching for businesses that can address their specific requirements and meet their demands – this is how they make purchase decisions.
Here are some tips, tricks and insights into why it’s important to provide multiple, flexible payment options, and how doing so can attract new prospects.
Customers rely on personal experience to guide their purchasing decisions. They have access to vast amounts of information online empowering them to take charge of finding businesses that meet their needs better than others - and this includes the payment options on offer.
For example, some customers prefer recurring card payments, and they may even prefer a specific type, such as American Express, MasterCard or VISA. They may accumulate airline points or need credit to make their purchase. Others may choose to forgo card for a bank direct debit payment.
Many B2B organisations prefer direct debit payments when making or receiving payments, as they’re safe, fast, secure and incur no additional costs. This means B2B companies are actively looking for direct debit as a payment method when working with suppliers and customers.
When it comes to collecting payments, it’s hard for any business to support every popular payment method.
Businesses have had to adapt to be far more accommodating to their customers’ needs, or risk being overtaken by competitors who better meet these demands.
This puts your business in a difficult position: you may have the best intentions for your customers and their needs, but you don’t have the resources and capability to do everything yourself. This is where a payment provider like Ezypay can step in to help you collect recurring payments via a variety of popular payment methods.
Payment providers like Ezypay enable your business to manage and accept recurring payments across multiple sites and via numerous flexible payment methods - including digital wallet systems (like Gcash, Apple and Google Pay), bank transfers, traditional direct debit and PayTo The more payment options available the better, as you’ll be able to better cater to individual customers and their specific needs. One hypothetical customer might prefer bank transfers over Google Pay, while another might want to pay exclusively via their credit card.
This means that you can offer your customers a multitude of options to suit their needs, which keeps them happy, and prevents your business from being stretched in the process. This is a win-win situation for everyone.
After all, a customer is more likely to sign up for a repeat purchase when your business is offering them their ideal payment method.
It’s worth looking into the right subscription billing platform to find the one that offers a variety of payment options, but also helps you to achieve your business objectives.
Discover Ezypay for yourself, and see how using recurring payments can help you transform your payment collection processes, improve cash flow and optimise your business processes.