As small business owners, we’re always looking for ways to save money without having to give up the things that are important to us. Whether it’s avoiding fees or fines by keeping track of our finances, or keeping an eye on our inventory stock levels, if we can save time and money while getting invoices paid by clients online, why wouldn’t we?
It’s true that cash and personal checks might seem less pricey than credit card processing, but as an event rental business, you need to be conscious of your customer’s motives for paying you. We would find that transactions paid by credit card actually cost less (and indirectly less through processing) than if customers pay via another payment method. Paying with a credit card can speed up a transaction or feel more familiar to a customer paying for something online since it’s a widely used payment tool.
Credit card processing has evolved from requiring customers to sign their name on a physical piece of paper to using digital account numbers, systems that encrypt card information, anonymity between the merchant and the financial institution during transactions, and other technology that was not available before. You might be thinking that your company already has an online payment method figured out, but you’ll be able to save time, resources, and money by using an event rental management software for your business.
Easy Payment Collection
Because credit cards are quite popular as an online payment option, it makes sense to make them the main way of accepting payments for your business. It simplifies things if you use a centralized system because all of your clients’ transactions are available through one location rather than needing to manually track separate purchases made individually by each client or group of clients.
Imagine how much easier your workflow could be if you never had to worry about chasing customers for outstanding payments ever again. Rentopian has a built-in feature that allows you to send payment reminders to customers automatically without actively having to follow up each and every time.
Now with just a simple link, your customers can complete their order or invoice online and you don’t have to chase them down to remind them that they owe you money. This is made possible by having a centralized platform that facilitates the entire payment process without any hassle on your end. You can eliminate the time-consuming task of having to collect payments every time they order.
Track Order History and Refunds
Setting up a centralized software to take care of online merchant payments can help you, as a business owner, better track who has paid for what, when they have paid for it, and what payment method they have used. In the event that you have to give a client a refund, being able to track their payment history helps you more professionally handle how you get the money back from them.
If they paid with a credit card for example, then you have 2 options: You can either refund them using their original payment card or apply the refund amount in the form of store credit so that it’s worth something to them. Whatever option you choose is entirely up to you, or you may ask the client for their preference.
Credit card information can be stored differently depending on what form of payment is being used. Compared to offline retailers, online retailers have a more robust credit card protection toolset at their disposal. These tools are specifically designed for the digital age in which we live today.
Online Payment Gateway Integrations
Rentopian software seamlessly integrates with four different payment gateways so you can start your business without having to worry about fielding inquiries pertaining to deposits, payments, and follow-up! Not only does this enable you to focus on growing your clientele without concerns for immediate payment through automatic reminders that are sent via email, it also saves time for both yourself and your prospective customers by maintaining the efficiency! This way you can put in less time making sure that all payments are completed while enabling more of your day (and revenue!) toward actually running the business.
Using online event rental software like Rentopian will make it possible to accept payments and keep track of all financial history. Using any one of the payment gateways that Rentopian integrates with means that your customers do not have to leave your website in order to provide their information and make a payment. To try out several features including how it works with our inventory management system contact us today so we can offer you a free demo and a 2-week trial.