Every business runs on a give and take policy. There are expenses, incomes, receipts, and payments and this happens and is incurred by both, the business and its customers. When the business makes a transaction or dealing with a customer, the customer is in a situation to make a payment to the business and on the other hand, the business becomes a customer to another business or a concern when it purchases tools or software from the others.
Generally for businesses, as said above, it is some packages or software that they buy from some service providers to make them comfortable as well as their customers comfortable in their dealings. Ok, now that there is money involved in each and every activity, how is the business going to manage the flow and how the customer is demanded to make his payments.
When it comes to payments, each customer has and prefers a different mode of payment and the business needs to be ready and open for all the options. A few prefer making a direct payment, while a few would prefer using a credit card for payments; there are also a few who feel and are comfortable with online transactions.
But do businesses generally come with provisions for all these options? Are they keeping themselves open to all these or accepting and allowing only customers who are in line with their payment structure and procedures? Actually speaking, every business needs to keep its options open for all these and this is one way of attracting customers towards them.
Ok, so now how do they manage the different payments through the different methods? Here is a detailed description of what they actually do. Businesses take the hands of a service provider who agrees to link them up for payments in all possible ways like make them eligible for accepting payments through credit cards, allow them to have an account transfer done by creating a special software and a payment gateway for them. Almost every business has all these different types of payment options and the payment gateways provided to them are all unique and exclusive to them.