LONDON–(BUSINESS WIRE)–Worldwide demand for digital payments has skyrocketed. Businesses have the opportunity to meet customer demand and take advantage of many digital payment benefits by leveraging the dramatic rise in contactless payments around the globe.
As we explore these options, please join us so you can learn how digital payment can be used to boost your business’s performance in the post COVID environment.
1. Accepting online payments by credit card
By 2023, nearly 420 billion transactions will be converted to digital payments using cards and cash. The total amount could reach $7 trillion by 2030.
You run the risk of losing hundreds potential customers if you refuse to accept credit cards.
Customers will be more likely to buy more when they have more payment options.
2. Make use of Internet Banking
Internet banking allows you to process transactions at any hour. You don’t need to wait for a bank trip to complete your transaction.
If your business requires that you frequently make and receive payments globally, a DNBC Business AccountYou can transfer money quickly, no matter where in the world you are.
Digital banking can provide a predictable cash flow for your business if you have a good payment structure. Jimmy Lee, founder of DNBC Financial Group and CEO, says:
3. Accept digital wallet payments, QR code
According to the World Payments Report digital wallet users will increase from 2.3 billion to 4 Billion in 2024, according to the World Payments Report. By 2025, 30% percent of mobile users will be using QR codes.
The payment process has been streamlined by the use of QR code and digital wallets. Customers can make payments by simply waving their phones at a designated terminal. This not only improves the customer experience but also increases the number of transactions per unit.
4. Use the mobile payment app
Mobile payments are a great way to increase revenue, thanks to the increasing popularity of smartphones. Businesses are now accepting mobile payment apps for their ability to sell services and products online and manage customer accounts from anywhere.
Some apps, such as DNBCnetIf you travel frequently and need to make international payments, these apps are worth looking into. The app lets you manage your company’s finances on the move and helps you keep track.
5. Improve cash flow by implementing Omni-channel payment solutions
An Omni-channel payment solution can speed up customer payments. Many companies use different payment methods to collect payment. Many will have multiple bank accounts related to each system.
Implementing a payment collection system that handles all types of payments through one solution reduces this complexity. It will also allow cash flow records to be integrated in one system, which will likely lower costs.
Time to increase your payment
One of the main benefits of digital payments for business owners is that they allow them to concentrate on delivering services.
Even a slight improvement in the performance of payments can have a significant impact on a company’s bottom-line.
DNBC is a leader in the digital banking industry. It provides exceptional convenience and transparency for its users. Customers can access their smartphones via their smartphones Register for a free accountThey can do it whenever they want.