Payment integration allows firms to offer multiple transaction options
October 10, 2013

Payment integration technology is a valuable investment for small and medium-sized businesses that want to attract a larger number of possible customers.

According to a report published recently by WePay, a credit card processor, consumer transaction preferences vary greatly across demographic groups. Among 2,000 shoppers surveyed, a large majority of millennial respondents said they are more interested in electronic credit card processing services than any other payment method. However, Houston Chronicle said previous data from AllBusiness, an online resource for small enterprises, found people from other demographic groups are more familiar with checks and other alternative payments.

As a result, many companies are interested in offering the convenience of multiple transaction channels. In fact, 72 percent of the 1,000 small-business owners interviewed for the WePay study said they prefer to accept checks in addition to credit cards and other payment forms. The ability to easily accept paper checks provides multiple benefits for small and medium-sized enterprises. For example, Houston Chronicle said checks are a safe and reliable way to process large transactions.

Integrated payment systems can help companies keep better track of financial information as they increase the number of channels customers can choose from to make purchases.

Nexus: G-WEBCD2