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4 Things Electronic Payments Can Do For Your Business

The transition to digital payments is no easy feat. But the benefits vastly outweigh the challenges. Find out how you can go contactless to fuel business growth and success.

GoSite Team
3 min read
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Today’s market is run by smart technology, mobile devices, and 24/7 internet connectivity. Cash may no longer be king because the transition to digital payments has been on an upward swing for years. If your business does not go cashless, you risk getting left behind.

The Accelerated Growth of Digital Payments

Now more than ever, businesses are embracing electronic payments to respond to changing consumer preferences and behaviors. How have contactless payments increased? Let’s look at the numbers:

  •  More than four in five Americans, or about 82% of people in the U.S., have used some form of digital payment in 2021.
  • The global digital payment market is expected to grow at a compound annual growth rate of 15.4% from 2021 to 2026. It is expected to reach $180.2 billion by 2026.

Shifting from cash to digital payments is the move if you’re looking to scale your business and keep up with the competition. 

Why Your Small Business Should Accept Digital Payments

Still unconvinced? Learn more about why investing in electronic payment methods empowers you to reap high payoffs in the long run. 

Instant, On-the-go Transfers

Improve convenience and satisfaction by giving your customers the ability to make real-time payments through their mobile phones. That way, customers can access your goods and services whenever and wherever they want.

Plus, your business can receive and send money within seconds. With digital payments, you reduce processing times and have better control over your finances. 

Boost Productivity and Efficiency

Save time and effort by automating repetitive processes like invoicing and data entry. Digital payments make doing business easier and more efficient by letting you track sales and improve profit margins. The upfront costs may be steep at the start, but with contactless payments, you’ll cut costs and maximize savings in the long run. 

Improve Security and Transparency

With hacking on the rise, digital payments are also vulnerable to serious data breaches. But advancements in technology make it possible for owners and customers to take extra precautions and protect themselves. Enhanced payment security measures can be incorporated into digital solutions to protect your business against any type of fraud. 

Modern payment methods also provide greater transparency because it lets your customers know any upfront costs and other details that may be included in their purchases. You can send notifications about completed transactions and even update consumers in case of errors. 

Reach New Customers and Gain A Massive Following

Give your customers the ultimate online shopping experience. You can attract leads and expand your reach by positioning your business as one that can offer a consistent, seamless experience across sales channels — in-store or mobile. 

An All-In-One Payment and Management Platform To Boost Sales

Stay ahead of the digital payments curve with the right payment processor for business. Here is where GoSite’s Payment Tool steps in to give you a complete digital solution.

Our robust payment system makes transactions quick, easy, and completely hassle-free for you and your customers. The text-to-pay feature lets you get paid faster because you can send an SMS or email payment request to customers anywhere.

The platform also accepts all major credit cards, sends automatic receipts to customers, and allows you to generate invoices from your phone — all without any hefty monthly subscription or usage fees.

Want to accept mobile payments and set up online appointment bookings all at once? GoSite offers a built-in online booking platform that’s easy to navigate. So you can give your customers the simplest, easiest way to book appointments, anytime and anywhere. 

By innovating your business with digital payments, you’ll be able to deliver solutions that best fit the unique needs of your target market. Seize the opportunity to scale your business by adopting a payment system that saves time and expenses while winning potential and existing customers.

GoSite can help your business grow in so many ways, all in one friendly dashboard. Ready to dive in? Start a free trial. Prefer a conversation? Book a demo.

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