You need to take control of your business.
Like I previously mentioned, while some people are closing shop with this lockdown, some others are starting new businesses and pivoting to take hold of the new opportunities this pandemic has caused by creating solutions to new problems. With this pandemic comes new problems that have arisen from social distancing, people’s fear of going out yet with many needs such as food, community etc. Look around you, what problem can you see around? How can you contribute to the solution?
Read more about Online Payment
Today, many businesses have pivoted to ecommerce by moving from selling in a physical space to selling online. This aspect of sales and marketing is a bit confusing for most people who are not so conversant with technological operations. On this series, I will be sharing with you some online payment platforms you should consider for your business in order to stay on top of the game and not lose your customers forever.
People are pivoting online and are buying from stores online, the payment plan may be a bit of a hassle for you because of transfers and people, including not, do not fully trust transfers from personal bank accounts. With so many payment platform available, you can solve that problem by using a third party payment platform. Your customers are more trusting of Paystack and others than they are of Abogundade Omolola’s Providus bank account number. It’s basically psychology.
So, let’s get to it. Before making a choice on what payment platforms to choose from, it is important to consider some things like what solution do they provide? What is the cost of each platform? What kind of payment method do they accept? Do they allow all kinds of cards? Do they allow international payments? Is it safe and secure? Do people trust them? Are there negative reviews about them from both customers and business owners?
Here are some of the payment platforms with basic information about them:
Paystack is one of the most popular payment gateways at the moment. It helps businesses get paid quickly and securely by anyone, anywhere in the world. It is adaptable to people who sell on Instagram, in a physical store or on their website. Businesses without a website can create a payment page in few minutes and can share that link via SMS, DMs, Whatsapp chat or any other means of communication. It allows multiple payment channels and keep your customers on the same page without the hassle of redirects. You can accept payment from international cards, display prices in USD and get paid in USD.
Sign up to the Connect Nigeria daily newsletter
As a Paystack merchant, you can payout money directly from your Paystack dashboard to any bank account in the country.
Setup Fee: Free
Local Cards: 1.5% + ₦100 (₦100 fee is waived for transactions less than ₦2500).
International Cards: 3.9% + ₦100
Flutterwave makes it easier for banks, businesses and individuals to process payments across Africa. Rave is a product of Flutterwave which allows website owners accept debit/credit payments from customers anywhere in the world. It also allows you to manage multiple businesses from one simple dashboard, provide insights to optimize your revenue and organize your payments. Barter is another product of Flutterwave that allows you to send and receive money, pay bills, and create virtual dollar cards for your personal needs.
Local Payments: 1.4% processing fee
International Payments: 3.8% processing fee
Caveat: Please do well to seek more information about each of these platforms, talk with their reps and check reviews online before making your final decision.
I will leave you this by C. JoyBell C.:
“The only way that we can live, is if we grow.
The only way that we can grow is if we change.
The only way that we can change is if we learn.
The only way we can learn is if we are exposed.
And the only way that we can become exposed is if we throw ourselves out into the open.
Do it. Throw yourself.”
Featured Image Source: 85Kobo
Did you find this article useful? Contact us: editor at connectnigeria dot com