Improving payments in cargo transport business is a necessity. How are payments made in your freight carrier? Do you have all the means of collection, to satisfy your customers?
Recently, have you had to refuse any transactions for the payment method? Do you know the new payment tools? These questions and their corresponding answers lead us to improve the logistics of our business. Receiving different types of payments in 2021 is vital to your business growth.
In the past, payments in cargo business options used to be quite simple. The customer paid in cash or issued a check. Then there was the rise of plastic in the form of credit cards. Lately came in the debit card, so useful.
Now, with the development of electronic means, you can add other types of payments to that list, including digital wallet, cryptocurrencies, electronic checks/ACH, bank transfers and peer-to-peer payments via text messages or email.
Certainly, this is a wide variety of payment options that consumers and businesses have adopted at an incredible rate. Each of them adapts to the particular conditions of each company according to demographics, the place of the world and the levels of comfort.
Integration with large platforms.
Recently Trackingpremium has analyzed the needs of the logistics companies, freight companies, freight and forward companies and 3PL. For this reason he has decided to incorporate integration with two large platforms into his system PayPal and Stripe.
Below is a video showing the simple way to accept stripe payments.
As a business owner, you will have more and more options to choose which type of payment methods to accept. While you can simply choose to offer the payment methods you’re familiar with, you may want to expand your options. These five very compelling reasons are worth considering. Keep in mind that if you accept online payments, it’s your job to ensure that personal customer information stays secure. So make sure you choose a payment gateway that’s PCI (payment card industry) compliant.https://www.uschamber.com/co/run/finance/accepting-credit-card-payments
Retain existing customers with new payments in cargo businesses.
Keeping old customers satisfied is essential in the cargo management business. While your existing customers may have always used your usual payment method, it doesn’t mean they’ll continue to choose that same method. There may be changes in payment method preference because they are altering your financial habits or certain situations in your life now require the use of some other payment method.
On the other hand, it is possible that these people have been educated about the new payment options and then, they will have discovered this other method which will be more to their liking. In short, they would leave what they were used to. Even if these customers have bought you for years, if you don’t offer them the new payment method they want to use, they’ll go somewhere else for the same products.
It is a good idea then to know the payment preferences of your current customers to evaluate your opinion. This way you can adjust your payment options to meet them.
New payments in cargo business means new customers.
It becomes necessary then, to be prepared for all kinds of options. Their new customer base can consist of millennials who like to use digital wallets, as well as older customers who like the idea of direct debits or electronic checks.
A smart way to attract these new customers is to advertise your payment options within your marketing messages. This, of course, let them know what you are doing and that your company is up to date with the best and newest technology. Each different payment method will surely appeal to the full range of customer payment preferences.
This provides leverage to win over more people and increase sales through this aspect of the ideal customer experience. In addition to this, your company will also be able to have customers in other countries. As is well known, some of the additional payment options you add to your system can handle multiple currencies and align with payment standards elsewhere.
Increase by size and frequency of sale:
Lately, it has been noted that retailers offering a multitude of payment options have seen their size grow per sale. This strategy works, of course, because more consumers and businesses will buy more if certain payment methods, such as credit cards, are accepted. With the possibility to use any payment method the customer wants, there is an incentive to buy more.
This is exactly what you would expect your customers to do. Additionally, there is a higher chance that they will buy more often.
New payments in freight transport businesses will increase cash flow:
Several types of payment methods are settled over different time periods. If you only rely on one type of payment method, such as a credit card, you may not see the funds in your trading account for a few days. Meanwhile, accepting other payment methods such as cryptocurrencies, direct debit and electronic cash, offers almost instantaneous receipt of funds.
This would keep your cash flow recharged at all times, otherwise a key tactic to keep your business in all cycles.
Lower overall costs:
While some payment acceptance methods come with significant fees, which can reduce your overall costs you may earn in the future. Extending payment acceptance to include those low or free options involves a small additional expense.
Over time, this diversification can reduce what you would have spent just by offering a payment type. This can accumulate quickly as more fees are added to payment methods such as credit cards, especially if you own a small business with a lower volume of transactions or are in a high-risk industry.
Your bottom line will appreciate that you are willing to venture into new payment methods that do not charge the same level of fees.
Conclusion.
Here are just 5 tips to consider, in order to accepting more payment methods in your company. They will allow you to increase sales in your cargo business. This strategy has worked in a real way.
In trackingpremium our customers increase their sales day by day. It is a fact reported by many of them. In a short time we have witnessed companies that have tripled their turnover.
