How Payment Has Changed Over Time
Over the years, we have witnessed how payment methods have evolved from one form to another. These days, payments are made via smartphones, with particular emphasis on online payments.
Technology allows for fast and easy data exchange between devices. Payment methods and their integration continue to be continually improving and evolving. As there are nearly more mobile phones than people on the planet, the growth of e-commerce has expanded massively.
The Need To Have Easy Payment Models For Your Business
The modern business ecosystem changes by the minute, and as a business owner, you must adapt to survive these changes. If your business is not leveraging the growing internet market, you will be left behind in no time. To survive in the highly competitive online market, you must provide a shopping experience that is convenient, fast and secure.
Payments are what keep your business running. It is important to prioritise your payment experience and strive to make the process seamless for your customers. Otherwise, there’s a high chance they will take their business elsewhere, causing you to lose out on revenue. The more payment methods you offer, the better your chances of providing exactly the one your customers need.
Ways To Accept Payments Without A Website
When it comes to accepting payments for your business, it is usually helpful to have a website, for the purpose of ease and accessibility. However, websites are not the only way for entrepreneurs to receive payments. You don’t have to stop your business in its tracks simply because you have not set up a functional web page. Here are a few ways through which you can accept payment for your business without a website if you are an entrepreneur, or if you are running a side hustle to supplement your day job:
- Accept Payments via QR Codes
QR code is a type of two-dimensional barcode. It is a contact-less online payment method. Nowadays we witness QR codes displayed everywhere. Payment acceptance via QR codes is gaining popularity, and this instant payment solution is here to stay.
QR Codes are useful for street vendors because they can print QR Code Payment Links for all their products, customers scan the QR code and the merchant gets a direct confirmation when the customer has paid. A customer just has to scan the QR code with the mobile device and then the QR code redirects customers to the payment page where the online payment can be initiated.
- Payment Links
Receiving online payments via payment links is one of the easiest, fastest and convenient options for both merchants and customers. These payment links can be shared via any social media messenger application, email, or SMS.
This is how conducting transactions via payment links is done: the merchant generates the link of the said amount and shares it. Then the customer receives the link, presses the command functions, and initiates the payment. After online payment is successfully done, the merchant gets a notification.
- WhatsApp Payment
WhatsApp is undoubtedly one of the most popular messaging applications. It is one of the customised ways to provide your customers with a personalised shopping experience. Starting from showcasing products to collecting online payments for the services and goods, the WhatsApp payment solution can be a one-stop-shop.
Receiving payment online via WhatsApp messenger has its own advantages. In the era of social media marketing, the WhatsApp payment solution gives a unique and customised experience for online payment acceptance.
WhatsApp Payment solution has multiple payment options. The customer just has to click on the link which redirects them to the payment page. On the payment page, the customer can select any payment method he/she is comfortable with and proceed.
Advantages Of Alternative Online Payment Models
– Any business, regardless of its size, can accept online payments seamlessly with these methods. These solutions are quick to understand, and customers can get accustomed to them very easily.
– They provide a secure platform for online payment transactions. These payment solutions are backed with a secure payment gateway.
– Accepting online payments via payment link, QR codes and WhatsApp payment solution need minimum input from the customer.
– Accepting online payments not only increases brand and customer loyalty, but it also proves to be beneficial for businesses in the long run.
How Paga Aids Businesses By Providing A Wide Range Of Payment Options
As Nigeria’s leading payment solutions provider, Paga is easy to use, it is secure, and transactions are conducted speedily. Here are the ways through which Paga ensures that business owners can process transactions seamlessly.
- Multiple Options: Paga allows users to pay utility bills, purchase prepaid airtime, pay for subscription services as well as internet bundles, and make payments to retailers. You can sort out your cable TV, internet subscription and electricity bills with Paga’s smooth bill payment service. The platform currently caters to payments for DStv, GOtv, Smile, and Spectranet.
- Recurring Payments: A recurring payment is designed to take away the burden of initiating a regular payment while ensuring you do not miss the payment. It is simple to set up. To do this:
- Log into your Paga account
- Select “recurring payments” from the list of services
- Create a new recurring payment
- Select the service you want to create a recurring payment for
- Fill out the details of the recipient/beneficiary
- Set up the schedule and fill all required fields
- Review the details and confirm the transaction.
- Safety: Paga also acts as a mobile wallet where any user equipped with a mobile device can conduct financial transactions. It is easy to use, it is secure, and transactions are conducted speedily. Paga boasts of the safest e-wallet when it comes to e-payment solutions in Nigeria: the platform’s my242 feature keeps your money safe and is designed with state-of-the-art security features accessed through your Personal Identification Number (PIN). Your PIN helps provide protection against fraud and unauthorised access to your Paga account.
Opening a Paga account is pretty easy. To get started, click here to download the Paga app on your device, then click on ‘Sign Up’, and follow the instructions from there.