Streamline Payments Through PayPal and Stripe for Your Business
The modern world has accelerated the democratization of high-speed internet and the penetration of smartphones. Businesses looking to reopen facilities during the upcoming summer should pivot their business models to align with the new age market mechanics as well. And this includes automated payments for collecting funds.
Therefore, it makes sense for businesses to know that Stripe and PayPal are two of the most well-known payment solutions that let you collect money through reliable digital highways. Picking a payment provider for your business will probably come down to these two.
On that note, let's dive deep and understand why you should switch to collecting your payments through Paypal or Stripe for the greater good of business growth.
Benefits of Using Stripe or Paypal
PayPal is arguably the most reliable and recognizable name in the surging eCommerce payments industry and boasts of a massive user base of over 267 million customer accounts, including over 21 million merchants. On the other hand, Stripe is another online payment service growing rapidly in the digital age and is especially liked for its customizable development tools, making it a popular pick for small and medium-sized businesses. Some of the benefits of using Stripe and Paypal as payment gateways are as follows-
- PayPal and Stripe offer a robust payment solution that is not only easier to handle but also transparent at the same time.
- Both platforms are open about their transaction fees, which is one of the reasons why they are leaders in the online payments industry.
- There is another major reason as to why Stripe or Paypal should be incorporated is recurring payments. This essentially tends to offer permission to a retailer or merchant to deduct payments for goods/services each month from the consumer's bank account or to automatically charge his credit card in the amount due each month. From a membership and classes' perspective, this is a major plus.
- Frictionless checkout experiences are vital for any business model to thrive these days. With customers being able to book any appointments and classes on the go, business owners can rest assured that their business will grow at lightning speed with the utmost ease.
To sum it up, PayPal and Stripe make up for the perfect toolkit of payment methods offering payment flexibility, reducing the chances of fraud, and increasing transaction speed. When such security is coupled with added perks like subscription benefits and late cancellation, it makes for an all-around bulletproof package.
Fast forward your business with Omnify+Stripe, Know How!
Riding the Digital Wave to Perfection
Be it long-term memberships or short-lived interactive discounts; online payment gateways provide a seamless method for transactions in the current fast-paced market. Moreover, this makes even more sense in the post-pandemic era, where digitization has made a tremendous leap in almost all facets of life, including the way we do business.
And like every other person, business owners should leverage the power of digital payment methods to fall in line with the newer ways. Payment gateways like Stripe and PayPal are always actively adding updates with the goal of enabling businesses to accept any payment method in the world with a single integration.
Some of the glaring advances include Simple payment method setup, Expanded payment method capabilities, Unified monitoring and reporting, and most importantly, Seamless integration options for all business models.
History holds ample proof that payment methods have always been evolving to support different consumer and business needs. High volume markets with deeper card penetration, such as the United States and Europe, have seen a seismic shift towards electronic wallets, which offer more security and convenience.
Also, services like PayPal and Stripe are a reusable payment method - which means customers who have provided their payment details once don’t need to share any additional information for future payments. This enables you to offer one-click checkout experiences, which can be a pivotal boost to your revenue in the long run.
Moreover, with Omnify being a verified Stripe partner, we thrive at providing the best booking experience to clients by automating the entire scheduling & billing workflow.