Small and large businesses alike have an increasing number of options to collect digital payments from customers. Now that credit cards and online payments are more commonly being used in the wedding industry, it’s important for professionals to accept most forms of payment – especially the forms that are most convenient for your clients!*
Mobile payments are only expected to grow in prevalence – transforming the way consumers pay both online and offline in the coming years. Stay ahead of the trend and ensure you are collecting payment the fastest, and easiest, way for your clients! The stats below from Volume 9 of the WeddingWire WedInsights Series shed light on why couples prefer online payments.
More than 50% of couples prefer to pay their wedding vendors using an online payment method
Although 85% of couples pay for their products or services by personal check, writing a check has become a thing of the past in the minds of today’s couples. Just like you need to stay up-to-date with the latest trends in your field, it’s important to do the same with your business practices so you aren’t perceived as outdated!
Online payments typically take less than one day to submit payment
Submitting a payment online is not only convenient for the client, but it also helps you get paid faster. Couples on average take less than one day to submit an online payment, whereas those required to mail in or drop off a check take 3 – 4 times longer. Why wait?
Couples are 23% more likely to recommend a vendor who uses an online payment tool
All pros want to make a good impression, and accepting online payments is a step in that direction. Your clients will not only love that you accept online payments, but it will make you easier to work with and as a result they’ll be more likely to recommend your business to others. Choosing to limit your payment types can negatively impact your business more than you think, as our data shows that only 20% of couples are likely to recommend a vendor who only accepts cash.
*Of course with any financial decision, you should consult with your trusted experts and consider the ease of account setup, any transaction or other fees, and the security/fraud protection offered with any payment system.