If you own your own business, I'm sure you've created invoices, and you may have created one from a word doc, Google doc, or some other kind of blank document. It seems all you need to do is include details about your service, who needs to pay, how much it costs, and when it should be paid. A basic invoice can be created and sent out in minutes - but it lacks some key features or features that can save a client hassle and time to figure out how to pay the invoice.
Namely, you need integrated payments. This is when someone receives your invoice and there are buttons on it for different payment methods. In one click they can use Apple Pay, PayPal, Wise, or their credit cards. If you can only add one thing to your invoices, it should be this - and this contributed post explains why…
Integrated Payments Lead To Quicker Payments
Giving customers/clients the ability to click a button and use a common payment method means they’re more likely to pay you right away. It’s more convenient for them when compared to the alternative - opening up their banking app, putting in your details, and sending the money across that way.
You’re pretty much creating an online checkout for them to use. It’s the exact same as if they used an online store and bought something. Quicker payments mean you can better manage your cash flow and pay for bills/essential expenses. You’re no longer left waiting weeks for a client to finally pay you because they keep putting it off or forgetting. One-click is all it takes!
Integrated Payments Boost Retention Rates
Clients are more likely to return when paying for your services is easy. Nobody likes being hit with an invoice including complicated payment terms and conditions. It’s so good when payment systems are included in the design, meaning all you have to do is hit a button and use your pre-loaded card details.
People will come back because they liked how simple and convenient your invoicing system was. They know that paying for things will be a breeze and they’re less likely to forget about it and have to deal with you chasing them up.
Integrated Payments Assure Clients Of Security
You can integrate payments using invoicing software that puts secure buttons on your invoice ready for anyone to click. When clients click the buttons, they’re taken to secure and trusted payment portals. For them, this helps them feel confident that the payment is truly safe and secure. They know there are fewer chances something goes wrong because they can choose their preferred and most trusted payment method.
If people don’t feel safe when paying for things, they’re less likely to return or recommend you to others. Integrated payments establish a level of security clients will appreciate, helping you develop a reputation as a trusted company or freelancer. Therefore, you’re likely to see a rise in recommendations or new clients because of this newfound reputation. Online scams are very prominent, so people need assurances that their money is in safe hands and a transaction isn’t dodgy. You can put them at ease with reliable integrated payment systems.
The key to making this successful is choosing the right payment methods to integrate. Think about ones people trust - like PayPal, Visa/Mastercard payments, and so on. Also, give as many options as possible. The more choices you provide, the easier it is for clients to find a payment method they like the most.