COVID-Friendly Business: Top 5 Digital Payment Systems

In 2020, COVID-19 swept around the world, creating challenges that extended far beyond the devastation caused by the disease itself. The pandemic caused a seismic shift in the way society functions. Small business owners had to adapt fast or risk closure. Dayville business insurance liability coverage offers protection for small businesses that moved operations online or offered contactless digital payment options. Using these digital payment systems is now the norm.

Here are the top five digital payment systems for COVID-friendly businesses.

1. PayPal Sets the Standard

PayPal is the leader in digital payment systems. To use the service, you need to install a payment button for PayPal, which then redirects customers to the service’s website to complete the transaction. Customers can choose from a variety of payment options within the system. This service also lets business owners create, send, and receive invoice payments.

2. Square Is Next in Line

Square is the next runner-up in digital payment technologies. It offers competitive transaction rates and can be used for online and POS payments. Small online businesses can opt to sell their goods and services through Square’s free store, and those items are embedded on the business’s own website. POS payments are made using a mobile card reader.

3. Stripe Keeps Customers on Your Site

Most payment systems redirect customers to a third-party site to complete a sales transaction. Stripe keeps your customers on your website. To do this, they use an embedded payment form. You can begin accepting payments as soon as the form is installed, and the service can be used across devices.

4. PayStand Removes Transaction Fees

This payment system is part of a growing trend in digital payment technologies that are geared toward small online businesses. The company does not charge transaction fees. Instead, you pay a flat monthly rate for the service. PayStand allows you to accept any type of payment, including Bitcoins, foreign money, e-checks, and e-cash. When customers checkout, a pop-up window opens for the transaction.

5. Flint Provides No-Touch POS Payments

Flint is a point-of-service payment system that provides owners with a no-touch solution for in-person shopping. This is a mobile app that does not require the use of a plug-in card reader. Instead, the customer’s credit card number is scanned from the phone or tablet. The system also has an option for accepting cash and check payments. This added layer of protection offers peace of mind for you, your employees, and your customers.

Online shopping is not new, but when the pandemic hit, many businesses were forced to shift online when possible, and businesses that kept their doors open had to adopt new safety measures. Whether your company provides online or in-person services, you need a payment system that is reliable, safe, and secure. You should also make sure your Dayville business insurance offers your company the liability protection it needs when dealing with online transactions.

About Byrnes Agency

At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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