With the advent of technology, the arrival of personal computers and smartphones, and the launch of e-commerce giants, the methods of payment collection have been revolutionized.
Digital commerce has emerged with a number of payment collection methods. All of them work to facilitate both, the clients and the business owner. The trending payment collection methods, including paymentwaze are not limited to online shopping but they are also applicable to a number of other industries.
Here’s a list of some industries that benefit from paymentwaze processing methods.
- Food & Beverages
- Hotel & Lodging
- Nonprofit organizations
It won’t be wrong to say that technology has reinvented modern commerce. It has refined the consumer experience of shopping, including the processes of buying and making payments. Scroll down to read about the 3 most impactful trends that are reshaping the process of payment by employing cutting edge technology.
1. Pay Now Button
By collaborating with companies like paymentwaze, you can offer quick and easy payment methods to your clients. The Pay Now button allows the user to pay for their invoices via Paymentwaze API. Payments can be made and collected quickly and easily, in just a few clicks!
2. Recurring Payments
As the name suggests, recurring payments are the ones that are periodically repeated. It’s when you charge your clients automatically for the services and items that they require regularly. For example, a flower shop can employ the recurring payment method to facilitate its customers who wish for daily delivery of flowers. Similarly, a newspaper distributor can use this method to collect daily payments without a hassle.
The process is initiated by a sale or a customer card authorization. The customer selects the recurring payment option on the business website and enters their card information to confirm the payment. From this point, the customer is automatically charged regularly, according to the plan they have selected.
3. Pay as You Go
Pay as you go is a system in which customers pay for a service before they use it. Furthermore, the customer cannot use more than what they’ve paid for. This method works to simplify the paying process.
A lot of companies and business owners choose this method because of how easy it is for the customers, as well as, the business owners. Netflix and cloud service providers are prominent examples of businesses that employ this method of payment collection to charge their customers.
With so many options available, choosing the right payment method for your business can get a little confusing. It is advisable to take your time to do a little research or consult with an expert from Paymentwaze to help you choose a payment method that works best for your business.