The world as you know it has changed due to the outcomes of the current crisis: the pandemic of the Corona Virus (Covid-19). Partly due to globalisation, the virus had spread so quickly, turning from an epidemic to a pandemic, that governments around the world cracked down on their people to strictly stay at home under an undefined period of quarantine.
The economic downturn of this quarantine has begun to lay its impact around the world; businesses have either slowed their production levels or completely stopped to cut down on costs, workers have been laid off indefinitely and many without pay, governments are trying to fund minimum wage workers and SMEs - basically, the circulation of money nationally and internationally has slowed down.
For those of you who have avoided online payments due to security reasons, possibly complicated payment integration procedures and circumstantial delays, now is the time to realise that the benefits offered by online payment systems are undoubtedly required.
To put things in to perspective, ponder upon the following tasks that the quarantine has rendered almost impossible:
What your target customers are facing now have newer problems as compared to what you have been marketing for before the pandemic, and the bottleneck of most of the possible solutions is the method of payment.
Over the course of many years, extensive measures have taken place to ensure the security that you need. To aid digital transformation for businesses to thrive (not just survive), the ability to receive payments is a must. As you go through the benefits listed below, keep in mind that this is applicable and highly valuable when the economy gets back to its regular pace:
All of us have choices to opt out. However, during this pandemic, do the benefits of having an online payment system outweigh the possible benefits of not? Absolutely, and here is why:
People will rely on online payment systems now more than ever. The key take here is that this will eventually become habitual and after this phase passes (please, God), people's faith in online payment systems will remain steadfast along with the realisation of its ease of use.
For the businesses surviving this period with great difficulty, make use of this investment opportunity. When the crisis is over, you do not want to be in the same position you were before this crisis had started. As the economy grows, your business will too if you take the right steps right now.
Even if your business has survived this period of time, the number of people buying products and services online will increase and remain even after the quarantine period. As banking sectors start opening their services again to new customers, the number of people online will further increase. They will link credibility of your business to having an online payment system more strongly.
To tackle the current panic amongst enterprises of all sizes and industrial backgrounds, our company is aimed at helping businesses choose the right payment gateways to be integrated in to their respective platforms. Based on your business objectives, we offer consultation on the possible changes your business model must have to meet the demands of your customers based on the pandemic of Covid-19.