In the modern digital era, irrespective of size every business is inclined towards accepting online payments. This is all because of the instant as well as long-term benefits of the overall advantages of accepting online B2B payments.
Moreover, since the use of smartphones has increased there has been a steep rise in the adoption of online payments. It is observed that above 50% of the population prefers to make online payments.
Now the country is moving towards a boundaryless business intending to securing the global markets, it becomes essential to abide by customer preferences & behavior. With the changes in the market purchasing behavior of customers also change. But a business has to sustain every situation.
For maintaining high cash flow most of the companies are starting with accepting online payments. Online invoices are much faster, appropriate & save efforts for the clients, in addition to getting paid on time. It also minimizes the excess cost involved in the physical transaction of the invoices. Companies having online billing & Online accounting software for sending online invoices, accepting online B2B payments & reconciling them automatically are way ahead in the market than those who are still stuck with manual processes. Online invoices give the clients multiple options to pay online making the whole process hassle-free. Furthermore, it reduces the hassle to wait for the cheque to be cleared, depositing the, waiting in bank queues, visiting the customer again & again for payments. Collecting digital payments online is very easy & simple.
Here are The 7 Amazing Benefits of Accepting Online B2B Payment:
1. B2B Instant Online Payment
Online payments expedite instant payments for a business. It breaks the geological limitations and let the customer buy even without their actual presence. One can undoubtedly make an online payment sitting easily at home or office. The online payment gateway provides the transaction notifications that cause the customer to stay guaranteed of the purchased things.
2. Quick Setup to Increase Sales
Implementing online software integrated with an online payment gateway is an easy & quick way to increase sales. When you get paid on time, you can increase your productivity & hence increase the sales. Moreover, these softwares are quite affordable with advanced technologies for small & medium businesses. Marg ERP is a service provider that gives the best online accounting software integrated with MargPay for accepting online payments at very low transaction rates. Click Here to visit.
3. Trusted Online Payment Modes For Global Market
An online invoice software integrated with a payment gateway for accepting online payments is more secure & reliable than any other manual payment option. It enables the business owners to easily transact with international customers without any chances of bounced cheques & the transaction cost associated with it. Moreover, online payments provide instant assurance of receipt of payment to both parties avoiding any discrepancies later on.
4. Online Payment Gateway With Auto-Reconciliation & Auto-Posting
Whenever your customer makes payment you need to reconcile it with your books. In the manual method, a lot of time is invested in reconciling the bank transactions. The option of accepting online payments with Margpay could be more suitable for you in this case. The payments that you receive online are automatically entered in the books with auto-posting & Auto reconciliation saving huge time. Moreover, this process is completely error-free as there is no manual intervention involved. It also helps you in getting paid on time. Instead of sending reminders to customers and requesting the payments, the software will automatically notify the customer of the outstanding payment.
5.Trust-building in Customers by Accepting Online B2B Payments
6. Multiple Online Payment Modes
Businesses that accept payment via multiple Online payment modes are way more successful. In the era of digital money, customers want to pay using any suitable payment mode like credit/debit card, net banking, payment wallets, NBFC, etc. This increase trust, reliability, and speed of transactions
7. Getting a Competitive Edge
For a business, an option to accept online payment improves the overall image, allowing it to gain the trust of the customers. The customer will also refer your business to others for creating ease of doing business. Moreover, when most of the companies have online payment option, any business cannot afford to ask for payments via cheques or cash, as this will significantly sound obsolete
Start accepting Online Payments: MargPay
MargPay is an online B2B payment platform that integrates with Marg ERP and Marg Books to automate the entire billing and payments process. It supports all payment modes that you need for your business.
MargPay is a complete solution for your business payment problems. With the robust technology and smart interface, know your cash flow, automatic reconciliation, file easy GST returns & more. A complete setup to help you understand your business better with multiple reports & insightful dashboards.
The Online Payment System is an internet-based method of doing a hassle-free and fast transaction, It allows the buyer to send payment and the seller to accept the payment.
An online payment method is Fast, Secure, reduces the hassle, and Provides the instant receipt of payments.
There are many modes of online payments like Credit/Debit Card, Net Banking, Payment Wallets, NBFC, etc.
You can use Margpay to get benefits like knowing about your Cash Flow, Reconcile your Transactions Automatically, File Easy GST Returns, etc, Get Paid On-time, Instant Transaction Receipts, etc.
Usually, it takes a few seconds but sometimes due to a bad Internet connection, it might take a while.
- It reduces the hassle of wait for the Cheque to be cleared, Depositing the, standing in bank queues, Visiting your customer again & again for pending payments.