THREE FACTORS BUSINESSES NEED TO CONSIDER WHEN CHOOSING AN ONLINE PAYMENT SOLUTION When choosing small business payment solutions, there are several important factors to consider that go well beyond “Can I accept credit cards?” and “What does it cost per transaction?” These are obviously crucial questions to answer, but they’re not as simple as they seem, and they don’t tell the whole story. Here are some of the most important aspects to consider when choosing the best online payment system for your small business. Transaction speed Unlike much larger businesses like Jumia and Konga, small business streams tend to be much tighter, smaller, and more in need of careful monitoring and management to ensure they don’t drift into the red or run out altogether. That’s why it’s so important to choose an online payment system that gives you total control over your money, and isn’t bogged down in delays and unpredictability. Upperlink.ng offers small businesses an online payment platform that is not only efficient but also processes transactions quickly. Some small business online payment solutions take longer than others to seek permissions from their partner banks and merchants; others are processed in large batches, and may take anywhere from 12 to 48 hours to fully process payments. This is problematic for small business for a couple reasons. First and foremost, it delays your ability to realise payment and bolster your business’ liquidity. If you have upcoming bill, invoice, or tax payment deadlines rapidly approaching, this hiccup in your cash flow can be disastrous. What’s more, and perhaps even worse, is the operational insecurity and instability this creates for your company. Cash flow, to whatever extent possible, should be predictable, regular, and ironclad. Unpredictable revenue streams create unacceptable risks in every aspect of your business, from purchasing and acquiring inventory and/or supplies, to payment of bills and expenses, to payroll, to marketing and advertising activities. Choose an online payment method that gives you security, predictability, and minimises operational risks. Security Before the internet helped bring about the digital global economy, the biggest security concerns businesses faced were physical “smash-and-grab” robberies, and “damage control” and “cleanup” merely involved sweeping up broken glass and repairing the wallpaper. Today, security means fraud prevention and identity protection first and foremost. The best payment systems for small businesses will offer both. Whether these services are provided in the form of 24/7 fraud monitoring, two-factor authentication for users, HTTPS secure payment portals, or something else entirely, your online payment method must remain secure. In fact, it should be the very first box your solution checks. Your online payment solution should offer robust security measures that mitigate risks for your business. At Upperlink.ng, the security of your online payment platform is utmost and that is why they offer one of the most secure online payment solutions, thereby preventing any issues of fraud or theft. Flexible control Ultimately, the best payment system for small business is the one that gives you the greatest control of the operations of your company. Online payment methods should offer you, the business owner, plenty of options to best suit your needs. Many online payment systems offer flexible tiered processing fees that adjust up or down according to the volume of payments you process through them. This is excellent for small businesses with aggressive growth models that plan to do significant online sales. What’s more, if you’re looking for an online payment system to accept credit cards, you can mitigate undue business risks by opting for one that provides tools like automated recurring billing, on-demand depositing to your bank account, and integration with your accounting software. The more control you have over the financial operations of your business, the better able you are to weather market fluctuations, changes in pricing, and unforeseen auxiliary concerns that can call your attention away from payment processing. Upperlink.ng gives your business control over your online payment platform, they provide the platform but the business still has control on how the payment platform is run relative to its brand.