As most of us know, small businesses’ have suffered much at the hands of the current pandemic. The US Chamber of Commerce reports as many as one in five small businesses’ closed forever or temporarily due to COVID-19. With no end in sight to the social distancing and stricter hygiene, technology offers one of the best ways for a company to adapt.
Before the pandemic, the Chamber of Commerce reported over 70% of small businesses using at least one digital platform to show and sell their products and contact their customers. Most focus on their regional or US market. A good 70% lack awareness of online payment processing and marketing sites allowing them to reach beyond the US market.
Coronavirus accelerated the shift to more online shopping. If it’s dangerous to your health, walking around a store, shopping online is the safest way to purchase the goods you desire. Cash changing hands can help spread the virus, so most people prefer to use credit cards or other payment means.
There are many payment processing options for small businesses, enabling them to process many payment types. Let’s look at a few options. Bambora facilitates online payments, billing, and transfers and handles onboarding new customers.
Braintree offers a platform that handles Paypal, Venmo (US only), credit and debit cards, and digital wallets like Apple Pay. Stripe handles more than 100 currencies and processes bitcoin and ACH transactions. If none of these fit your requirements, look at Dwolla, or WePay.
Look at payment processing in a new way and grow your business and customer base. The world is still out there, as are customers who want your product or services.
Author: Kris Keppeler, a writer who finds technology fascinating and loves humor. She writes for Crossing Genres on Medium.com and Does This Happen to You? on Channillo. Award-winning podcast producer who enjoys telling stories. Follow her @KrisKKAria on Twitter or on LinkedIn.