Online payment gateway is an important part of online business. It allows the merchants to accept payments online from customers across the globe. Yes, if we consider the present situation, technology is playing an important role in the sphere of business. Customers are preferring digital transactions such as contactless transactions and online transactions. Therefore, if your business does not accept online payment, you will not be able to survive in this competitive market.
In order to start an online business, you must have access to an online payment gateway. Well, merchant processors generally provide online payment gateway. You have to register yourself as a merchant under any renowned payment processor in order to get access to an online payment gateway.
Online payment gateway has the capability to elevate your business to the next level. We have highlighted the advantages below in order to give you a concrete idea about it:
- Labour Costs Will Be Mitigated: Well, when you will make an online shift, the labor costs will be mitigated. The payment terminals and the payment processor will do half of your job. As a result, you don’t need to hire staff.
- Easily Sell Goods Online: Well, the online business allows you to sell goods online flawlessly. Customers will have access to your website and they can make a purchase online. The online payment gateway will handle the transaction. You will just need to provide satisfactory service to your consumers.
Square is a well-known payment processor. The pros and cons are as follows:
- Square offers affordable flat-rate pricing
- There are no monthly fees for the merchants
- Square offers efficient tools for free. Through these tools, merchants can sell their products online. They don’t need to be tech-savvy to do this.
- If the overall transaction volume is low, Square will be an ideal platform.
- The company offers an all-in-one payment system
- Square offers chip card readers at a very affordable price
- Canadian merchants can avail of the benefits
The cons are mentioned below:
- If you belong to high-risk industries, this platform will not be an ideal option for you.
- There will be issues regarding the stability of the accounts.
Along with these, the company offers PCI-compliant solutions, API tools, e-commerce processing and many more.
So, you have understood the efficiency of Square. Therefore, don’t just wait. Become a merchant of Square.