The ability to pay online lets customers easily pay services. When an online payment is made, the payment method is authorized and the money is placed immediately in the business account. The business eliminates any financial risk.
According to Finextra, the cost of traditional billing is around 9.5% of the amount collected. However, the ability to pay online reduces, if not eliminates, these costs – postage, late fees and paper, while the business can reduce additional costs of administrative, accounting, customer service and other indirect costs. Add online invoicing and a business can benefit even more.
According to one global payments company, in the US, 26.7% of all online payments were made on a mobile device, a 5% growth since December 2014. And, there seems to be little easing of this growth. With such significant growth, it just makes good business sense to provide an online payment system that accommodates mobile users.
It All Adds Up
If you have yet to deploy an online payment system, it's time to rethink the issue. Look to a solution that offers both online invoicing and online payments as this combination is a powerful tool to getting paid faster.
Make sure your online payments solution offers a mobile option so mobile users can pay you easily. One-third of all payments being made via mobile and growing so why wouldn’t you accommodate this fast growing client base?
Take a look at vCita LiveSite as a possible solution. vCita offers easy to use online engagement tools, invoicing and an online payment system so you get an end-to-end solution. The vCita client portal lets clients make partial or full payments with any credit card or PayPal. Invoicing and paying online could not be easier — and it works on mobile. Try vCita LiveSite and see for yourself.