Providing Multiple Payment Options For Customers

Benefits of Providing Multiple Payment Options For Customers

Written by Taofik

Multiple payment options are a necessity in every business…

Have you ever lost a customer due to a lack of their preferred payment option? This is, unfortunately, a common theme in many Nigerian businesses.

Why is this important?

In a world where convenience and choice are highly valued, embracing multiple payment options is a strategic move that will benefit you and your customers.

Various payment methods allow you to cater to your customers’ diverse needs and preferences. By making it easier and more convenient for them to buy their products or services, you will improve their overall shopping experience and ultimately drive higher conversion rates and sales for your business.

A Scenario:

A customer, Abu, enters a supermarket to buy items without cash or his bank card. After picking up his items, he requests to pay through a bank transfer. However, the sales representative informs him that the store is currently unable to accept bank transfer payments due to technical interbank network issues.

Abu then asks if he could pay through his e-wallet, but the salesperson responds that the option isn’t available. Frustrated, Abu leaves the store without purchasing the items. He seeks another supermarket that accepts bank transfer payments and can successfully buy the items there.

A similar scenario applies to customers engaging in online shopping. A lack of their preferred payment option at checkout often leads to a high cart abandonment rate and loss of sales for the business.

How Bani can help your business with multiple payment options

Bani is an alternate payment solutions provider offering businesses seamless and low-cost payment collection options, including virtual accounts, e-wallets, mobile money, Shopper account, and more.

Virtual accounts: Bani’s unique virtual accounts offer your business a seamless bank transfer experience. 

  • Your customers can choose their bank for transactions with the multiple virtual account options.
  • You will also receive instant notification of any successful transfer, with your funds settling instantly.

E-wallets: Bani can also help you provide your customers with the option to pay through their e-wallets. Our e-wallet ensures a smooth and speedy payment experience; transactions are settled instantly.

Payment links: If you own an online business, Bani’s payment links can effortlessly help you collect payments without needing a traditional shopping cart or integrated payment gateway. You will simply generate a customisable payment link and send it to your customers via email, SMS, or any other communication channel. They can then click on the link and proceed with the payment.

Mobile money: For business owners in African countries such as Zambia, Tanzania, Ghana, Kenya, Rwanda, Cameroon, Senegal, Benin, and Ivory Coast, there is a mobile money payment option available to customers. 

Cryptocurrencies: Cryptocurrency payments are an ideal payment option for your customers. The decentralised options offer enhanced security and swift processing times and significantly help to facilitate seamless cross-border transactions.

Bani Shopper: Bani also allows customers to pay with their Shopper app by scanning a QR code at your store or online. This direct payment option bypasses inter-bank technicalities that can affect the payment process.

All of the above payment options are reliable, secure, and cost-effective. Thanks to Bani’s competitive market rates, you can easily offer your customers multiple options.

In summary, providing multiple payment options for your customers is not just a matter of convenience; it profoundly impacts customer satisfaction and loyalty and can significantly boost your business growth.

Sign up for free immediately for Bani’s alternate payment options to start collecting seamless payments from your customers. You can also speak with our team if you require additional information.

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