The COVID-19 pandemic has been the catalyst for change in how businesses work, and many have switched to a model of prioritizing online payments. The home furnishing industry is no different.
As furniture businesses set up e-commerce stores, online payment has become an important form of payment for many of them. With this shift in focus, digital transactions are expected to reach $8.49 trillion by the end of 2022.
If your furniture store hasn’t opened an online payment option yet, here’s the blog you should read today. We’ll tell you seven amazing benefits of online payment for your furniture store that will tempt you to incorporate this feature.
Ease of Payment
Naturally, the biggest benefit of online payment is the ease of payment. For furniture stores that sell thousands of dollar worth of goods, this comes as no shock that customers are looking for easy payment methods. Instead of going to the ATM to withdraw cash or writing cheques, customers can pay directly from their card in the comfort of their homes
Cashing a cheque may take time, and so does the whole effort of going to the bank to withdraw money from the account. Instead, through POS software, online payments allow customers to pay on the spot without any hassle.
Whether you’re looking to incentivize debit card holders, barcode scanners, or low-balance credit card buyers, online payments facilitate everyone. This is good both for the business and the customers as multiple options for payment ensure guaranteed sales and cater to a large customer group.
Like most businesses, furniture stores are concerned about data and financial security threats. However, online payment systems have multiple protection protocols that make it safe both for the customer and the business. You can integrate the security gateway in your POS software and boost the confidence of your customers in your website.
Easy to Track Cash Flow
When accepting payments on delivery or in-store, discrepancies and human errors can occur. However, a completely digital payment method can easily track your cash flow and sales. This also allows you to predict your cash flow for upcoming periods and plan your business moves accordingly.
Build a Data Pool
Businesses these days are heavily relying on data to make insightful decisions. Online payments help businesses gather customer data that become their source of actionable insights into consumer behaviors. In addition, the data collection also makes it easier for customers to shop again from the same merchant without putting in details every time.
Incentivize Last-Minute Shoppers
And we all know the last-minute shoppers who need to buy a couch or gift a lamp to their friend. Online payment incentivizes last-minute shoppers, offering a seamless, automated, and fast-paced shopping experience.
Boost Your Sales With Online Payments
If you’re on the lookout for payment software for a furniture store, then reach out to us at Althea Suite. We are an inventory management software company offering ERP solutions, POS software, and cloud-based systems for inventory and payment management.