Business to Business
Not every business model requires an online shopping cart, but many business to business companies are realizing the potential of improving cash flow. This means using eCommerce to set up invoice payments online as well as recurring payments to save collecting costs. Ecommerce provides logins to access accounts for payments and can embed a small purchase area for common transactional purchases.
Business to Consumer
Selling to customers directly today may require an online store to capture a new audience in order to improve business revenues and profits. By using eCommerce, even beginning with online payments for services, products and deposits on a secure website has proven beneficial for many companies. Setting up recurring payments and customer account logins for payments can improve collection methods.
Blended Online Shopping
Many small businesses have store fronts, but to compete today, these businesses have shifted to a blended selling model with eCommerce by incorporating store sales along with a mirrored online store. This way they can capture new customers searching on the internet for products, services and downloads.
Home-based and Micro Businesses
This one is a no-brainer one would think as it’s usually the sole proprietor with little time or assistance. But many design businesses, yard maintenance companies, photographers, DJ’s wedding planners, cake decorators, health product distributors etc, really should set up online payments to make billing easier and faster.
Non- Profits and Charities
These type of organizations depend on donors, volunteers and usually run on very tight budgets. With many of the population today, cash isn’t on hand for donations required at fundraisers and events. Ecommerce is there to aid the revenue stream, recommend online payments and donations on websites and mobiles.
Bottom-line, whether you’re a small business B2B or B2C, a storefront, a home-based company, a micro business or charity, it couldn’t be easier today to set up some form of online payment in our internet based society. I understand some business owners like “old school” payments. However, to keep competitive it may require a change. After all, your ‘change’ may just make (dollars) and sense. (cents).