New Invoicing Solutions Ease the Online Shift for Merchants

Invoicing solutions have opened up new doors when it comes to payments, especially for small business owners. Find all the information you need via Best Payment Providers.

Friday, December 4th, 2020

Without a doubt, businesses have experienced a tremendous push to take more and more of their offerings and operations online this year. As consumer expectations and demands shift increasingly towards eCommerce, small- and medium-sized businesses especially have sought out more sophisticated solutions to manage their finances and operations. This is where FinTech comes in. 

FinTech innovation has opened up new doors, especially for small business owners. FinTech partnerships and integrations have become a huge part of providing a positive end-user experience. For many, it is also the perfect place to start. 

“You always need to be able to integrate with QuickBooks,” says Ronny Yakov CEO of The OLB Group, QuickBooks. “Nobody can really compete, but we can complement them.”

Today, everything is about speed and convenience, for both business owners and their customers – every step of the whole experience. The recent announcement by The OLB Group of the integration of billing and payment gateway functionality within QuickBooks is just another big step in that direction. 

For example, the connection between the SecurePay payment gateway solution within the accounting platform allows businesses to generate invoices and receive payment, all without having to leave QuickBooks. This ability to seamlessly generate invoices with a link to pay equals valuable resources saved. Time is freed up to spend on more important tasks, and the added convenience means generating faster payments.

“Especially today, merchants are struggling to make payroll for their employees,” he noted. “They want to get their money as soon as possible.”

Invoicing solutions can also help combat fraud

Businesses and customers are not the only ones taking advantage of this shift online. There is a long list of tactics cyber attackers and online scammers are using to steal cash from businesses, which includes infiltrating the weak points of accounts receivable (AR) and accounts payable (AP).

Utilizing an invoicing solution helps businesses ensure they are not only paid as quickly as possible but as securely as possible. Essentially, a two-way communication takes place between the sender and recipient that allows payers to verify before their bill is paid.

The future of online payment processing is taking shape

According to Yakov, 65 percent of the OLB Group’s merchant base was not online at the beginning of this year. Now, due to the pandemic, there is almost a 50-50 split between eCommerce and traditional. This has obviously created a huge opportunity for solution providers to create and share their digital sales strategies with business owners searching for advice.

“It took us a while to convince customers before the pandemic to have a website and start transacting online,” said Yakov. “Before it was difficult to convince someone to spend the money. Now it’s, ‘I must have it right now.'”

Where to find eCommerce payment processing solutions

If your business is searching for online payment solutions, consider the expertise the team at Best Payment Providers offers. Our team has created an invaluable resource of reviews on industry-leading payment processing providers, industry updates, and other helpful information. With these tools, you can easily compare providers and their rates and find a solution.

Each industry and business type has its own unique needs. It’s important to find a payment processing solution that can help your business thrive, while also providing options and security to your customers. Get the tools and resources you need to take your online shop to the next level.