When it comes to choosing the right payment platform for your business, it is important you do exhaustive research before making a decision. This is because you don’t want any time lapse or delay when customers want to pay for services. Interestingly, there are thousands of payment platforms in Nigeria today that you may be in a limbo on which to choose. Not to worry, we share some tips.
Be aware of transactional fee
This is one of the most important things you must consider before choosing a payment platform. This is because you don’t want your customers complaining about the transactional fee for patronizing you. If the fee is outrageous, rest assured you will be overwhelmed with complaints and you may lose customers. So, use a platform that offers customers a favorable transactional fee.
Ensure most major payment types are accepted
For e-commerce companies especially, their payment platform must accept all payment types. No customer’s payment should be rejected because their payment type is not available. They will go to other e-commerce platforms where their payment type will be accepted.
This is money we are talking about. You don’t want your customers to lose their hard earned cash. So, any payment platform you want to choose must be hack proof and very secure.
Must be efficient
Payment platform offers different kind of experiences based on their technology. So, it must be able to process payment at the snap of your fingers. Jumia Travel urges you not use any platform that takes forever to process.
Inquire about payment turnaround
Business owners want to see cash hit their accounts as soon as possible because the sooner it is deposited, the quicker the transaction is processed. Also, know that turnaround time varies among payment services.