7 Benefits of Accepting Online Payments for Your Event Management Business
Your day consists of planning crowd-pleasing events and finding ways to increase bookings. Did you know how you are accepting online payments plays a big role in both of those areas? Whether you’re an event and meeting manager for a small restaurant or a large banquet facility, there are many benefits to offering online credit card payments for your clients.
Here are seven benefits of online payments you should know about.
1. It saves time
Posting an online payment form on your website or emailing a link to your clients is much quicker than manually printing invoices, stuffing envelopes, and dropping at the post office. Eliminating these tedious tasks frees up your time to tackle other revenue-generating responsibilities.
2. It reduces costs
By offering online payments, you reduce your costs for paper, supplies, and postage while minimizing your green footprint. Additionally, that’s less money out of your pocket to pay someone to perform the manual billing and invoicing.
3. It improves cash flow
Clients can make payments any time of day, which means you receive your money faster rather than having to wait for checks to come in and clear the bank.
4. It allows for automate recurring payments
If you have regular clients, consider enrolling them in a recurring billing schedule. This “set it and forget it” program enables clients to pay on time, every time, without having to remember to login or re-enter payment details. Most times, schedules can be customized to meet the needs of both you and your client.
5. It attracts more clients
Giving your clients a convenient online way to pay is a sure-fire method to increase your client base. More than ever, most people don’t even carry cash and some millennials don’t even have a checkbook, let alone know how to write a check, but approximately 75% of consumers have a credit and/or debit card.
6. It simplifies reporting and reconciliation
Integrated payments in your event management software mean your transactions are all in one place, reporting becomes centralized, and reconciling becomes fast and simple. This makes bookkeeping a breeze.
7. It offers secure payments
If you manually collect customer payment information and store it in your system, you’re putting your business in danger. This can result in hefty fees and losses if your system is breached. With an online payment form, sensitive payment information is typically stored by a third-party processor, minimizing your liability risk.
With a quick click of a button on their desktop or a tap on their mobile phone or tablet, your clients can pay you quicker and more efficiently, and you can spend less time tracking down payments and more on your next big event.
Clover Connect is the payments engine that will scale your business forward. Robust reporting, superior POS selection, P2PE, Tokenization, and visibility into every transaction bring dynamic growth to merchants in all industries.