Most companies now serve customers in a digital environment, so online payments are a must. However, businesses seeking an update may not be familiar with the current online payment landscape.

Here are the basics of how to take B2C and B2B payments online, along with related frequently asked questions from companies, business owners, and operations managers.

The most important thing to know about online payments is: the more options your company offers, the more customer payments you’ll bring in.

Look for software that offers different channels and options to take payments online. PDCflow’s esignature and billing software includes:

• Credit card and ACH payment processing
• Email and SMS payment requests
• Online payment portals
• Recurring payment functionality
• QR code payment links
• Cashier-initiated payment options
• Native payments (no integration or separate tools necessary)
• Cash tracking

Your business needs to know more than simply how to take payments online. There are several payment processing concerns to consider. Below are some of the main concerns that lead companies to choose PDCflow for esignatures, document delivery, and payments together.

Security

PDCflow practices end-to-end data encryption and tokenizes payment data, so sensitive information stays secure.

Payment compliance

Payment Card Industry (PCI), Nacha, and Regulation E compliance are all important to online payment processing. PDCflow follows compliance requirements for simple payment security and compliance.

Native functionality vs. plugins

Don’t add complexity to your payment workflows. PDCflow’s native payments make it easy to complete esignatures and payments, with reporting and functionality all in one place. No plugins, no software add-ons.

Pricing

Software pricing can skyrocket fast, depending on how many team members need access. PDCflow never charges per user, so everyone can collaborate without paying more.

Ease of use for staff

Too many businesses spend extra time training their staff on new software. Companies choose us for our ease of use. In addition, PDCflow offers personalized training to every customer from our in-house Customer Success team, ongoing dedicated support, and Help Center resources.

Ease of use for customers

If it’s hard for a customer to make an online payment, they are more likely to put it off or abandon payment entirely. PDCflow’s contract and payment workflows, easy online portals, and other options make it faster and easier for your customers to make a payment.

Integration

Many companies want the ability to take payments, request esignatures, or send documents from their own system of record. Access our APIs to integrate our tools into your system at no extra charge. Use our low-code and drop-in components to embed payments, test in a sandbox account, get developer support.

How long a customer payment takes to process will depend on the payment method. Funds from a credit card payment are typically deposited into a merchant account within 24 to 48 hours of being submitted.

ACH payments take longer to process than credit card payments, so merchants should expect funding within 1 and 5 days.

It can be difficult to project what taking payments online will cost your business. Many factors will impact your rates.

This is why many payment vendors offer a custom quote for payment services, rather than a flat rate for all customers. Here are just a few of the factors that impact your payment processing costs:

• Payment type: The type of payments you take can have a big impact on your operational costs. For example, credit card payments typically cost more than ACH. However, using programs like Zero Cost Processing can help you lower merchant fees and keep costs under control.

• Payment volume: Typically, the more you process each month, the cheaper your payment processing rates will become. PDCflow offers custom pricing with volume discounts for companies that plan to process a large amount of payments each month.

• Industry or business type: Merchant service fees can cost more for high-risk companies. These can include industries like debt collection or businesses that pose a larger financial risk (like startups or those in poor financial health).

• Integration: If you are interested in integrating payment functionality into a current system of record or other software, API access is required. Check to see that the software you choose doesn’t charge extra to access integration. PDCflow’s APIs are open and accessible to any company that wishes to integrate.

There are many ways to take a digital payment. Here are some of the methods customers prefer most:

• Payment portal: The most well-known way to take an online payment is through a secure, PCI-compliant payment portal. PDCflow’s payment portals can be added to your company’s corporate website via a link.

• Email or SMS request: Every PDCflow account also comes with the ability to send requests via email or SMS. For customers who put off visiting your site to pay, sending a payment request to their mobile phone is an easier solution.

• Web chat link: Companies can share the link to a secure payment portal directly from a web chat while speaking to a customer.

• QR code link: Another way to direct customers to online payment is via a QR code payment link. Print the QR code on a statement for faster access to pay.

With the level of risk and fraud that occurs in digital spaces, it’s essential to find a company that prioritizes data security and compliance to protect your business. PDCflow encrypts and tokenizes payment details for secure payments.

Email and SMS requests can include two-factor authentication to ensure they are only accessed by the intended recipient.

Many small businesses don’t know that digital channels actually encourage more payments from customers and save staff time. If your company is still taking paper checks or making manual follow-up phone calls, it’s time to upgrade.

Set up an online payment portal and send email and SMS payment requests instead of the old, manual payment options. With PDCflow, you can even include an automated reminder with each request. No manual follow-ups, no trips to the post office.

• Increase customer payments: Easier options mean more customers follow through.

• Speed up revenue cycles: Taking online payments means no more waiting for a check in the mail or making endless trips to the post office.

• Improve reconciliation: Digital payments are automatically recorded, so reconciliation is faster and easier than ever.

The reality of taking online payments is that it will cost your company some money to facilitate. Expect software costs and merchant fees to take payments online. However, there are ways your company can save:

• No per-user charge: Many companies ration the number of users they add to a platform. PDCflow’s unlimited logins mean your whole team can access and collaborate, without a higher price tag.

• All-in-one software: The more you can do with a single software package, the lower your company’s costs will be. Look for a tool like PDCflow for esignatures, documents, and payments to manage all your tasks with just one product.

• Volume discounts: If you take a high volume of payments, you may be eligible for discounted rates.

• Zero Cost Processing: To defray merchant fees, many companies pass a small fee to their customers when paying online.

One of the most effective ways to know you’re getting the best deal on card payments is to request a cost savings analysis.

This way, your company can evaluate what you are currently spending on fees and see if there is any room for improvement. PDCflow offers free credit card cost savings analysis services.

Deciding how to take payments online is a unique process, depending on your company’s industry, customer types, and workflow needs.

Here are some of the most common ways businesses use PDCflow to collect payments from customers:

• Email or SMS payment request: Send a statement or invoice with a link to payment. Customers can review and pay in a few simple steps.

• Online payment portal: Put an online payment button on your corporate website, so visitors can easily visit the page, fill out the form, and submit their payment.

• QR code link: Print a QR code payment link on paper statements.

• Bulk email or SMS requests: Upload a spreadsheet with the details, and PDCflow can send up to 5,000 requests at one time. Save time on manual work and engage a large list of customers at once.

• Recurring payment schedules: Let your staff create a recurring payment schedule, or let customers do it themselves through the online payment portal. Customers can set up a schedule that works for them, and you get guaranteed payments.