Businesses using e-wallets for payment collection will enjoy many advantages…
Digital wallets, or e-wallets, have become increasingly popular as a secure and convenient payment method in recent years. With a high population of mobile phone users in Nigeria, e-wallet payment has gained significant popularity among customers, currently making up about 10 per cent of digital payments in the country, according to Statista.
E-wallets allow users to store their credit or debit card information, bank account details, and even cryptocurrencies in a digital format that can be used to make cashless transactions while using their smartphones for online shopping, in-store purchases, bill payments, money transfers, and more.
Essential ways businesses can utilise e-wallets for payment collection
Due to its growing use rate, it has become essential for businesses to provide paying customers with options to make payments through their e-wallets.
Here are some ways you can utilise e-wallets for payment collection as a business owner:
Offer e-wallets as a payment option: You can add e-wallets as a payment option for your customers, who can pay quickly and securely using their e-wallet account. You can partner with a cost-effective e-wallet service provider like Bani and integrate the payment gateway into your mobile app or website.
Subscription payments: If you manage a subscription-based business, you can use e-wallets to collect subscription payments easily. E-wallets will allow you to set up recurring payments, which can be helpful for customers who want to make payments automatically.
Peer-to-peer payments: E-wallets can be used for peer-to-peer payments between customers. You can leverage this feature to allow customers to pay for their products or services directly from their e-wallets.
How the integration of Bani e-wallets can impact your business operation
Bani provides e-wallets that enable you to easily manage your payment needs, such as keeping track of customer payments and reconciling your accounts. Integrating Bani e-wallets as a payment option for your customers can provide many benefits to your businesses, including:
Convenience: Bani e-wallets offer businesses a convenient way to collect payments. Customers using e-wallets can easily make payments with just a few clicks, allowing you to collect payments quicker.
Security: Bani e-wallets use encryption and other security measures to protect customers’ payment information. This makes them a safer option to collect customer payments than traditional payment methods.
Speed: Our e-wallets facilitate instant payments by eliminating the need for manual processing, which can take unnecessary time.
Lower costs: With the pocket-friendly charges Bani e-wallets attract, you will enjoy a significant reduction in the cost of processing frequent payments, which can benefit your business.
Increased sales and cash flow: Our e-wallets can provide a seamless payment experience for customers, which can help increase sales and customer loyalty. This will ultimately provide you with faster access to your funds and can help you improve cash flow.