The main reason behind every business is that one party offers goods or services to get paid by the other. Thus, the whole part of this process demands the ability to accept payments.
As eCommerce popularity has risen massively in recent years, reaching a 46% user penetration rate for digital commerce in 2020, the benefits of digital payment platforms have never been so enticing to merchants.
Having the ability to accept payments online has become a prerequisite for different industries. The significance of online payment platforms and relevant plugins such as square plugin WordPress has become more relevant. In this article, we have covered nine industries where online platforms are used frequently:
Having the ability to accept payments online has become a prerequisite for different industries. The significance of online payment platforms and relevant plugins such as Square Plugin for WordPress has become more relevant. In this article, we have covered nine industries where online platforms are used frequently:
Industries That Frequently Make Use of Online Payment Platforms
The Online Learning Industry
People who have expertise in specific areas make courses and sell them online on various platforms. Common platforms include Udemy, Coursera, SkillShare, MasterClass, etc.
All these and other platforms always need a reliable online payment processing system to make the transaction secure between the student and the tutor. These learning management platforms need plugins to integrate the website with the escrow account, such as PayPal.
The Beauty and Wellness Industry
The pandemic has put a massive dent in the beauty and wellness industries. Spas and salons have been affected quite a lot by COVID-19. Beauty salons have started to sell personal care products online to offset the loss.
The salons have integrated the payment processing plugins into their websites to get payments online with the escrow platforms. So, the beauty industry has become the major beneficiary of digital payment processing products.
With the partial lifting of lockdowns worldwide, the hotel and hospitality industries have started to see a rise in their booking rates. People seek hotels that offer seamless transaction facilities through their websites, apart from top-notch in-house facilities.
The hotel industry is seeking to integrate its websites with online payment gateways to make the transaction process easy and secure to better serve customers. So, a reliable payment plugin and an add-on are the needs of the hour.
The Medical Facility Industry
Hospitals, clinics, and other medical facilities are swiftly moving online as people find it easy to contact and make appointments online. The medical industry has two major factors; one is booking appointments, and the other is online payment.
For the latter, medical organizations are finding trustworthy online payment gateways to integrate their websites. Thus, online payment extensions like WP Easy Pay are worth it.
Since COVID-19, schools, colleges, and universities have found themselves in hot water. The education industry was probably hurt the most, as they were unable to open, unlike other hospitals.
When the pandemic hit, schools found it hard to make the fee collection process easier, and that’s where online payment platforms came into play. Now, schools and other educational institutions have added online payment gateways to their websites so that they can collect the fee quickly.
It’s a no-brainer. Every eCommerce website has to think about an online payment processing system before they go live and start selling. A reliable and renowned online payment gateway is a must for every eCommerce business to sustain itself in the industry. Therefore, plugins covering online payments go hand in hand with this industry.
The apparel industry has also seen a massive jump in online shopping. People tend to buy more from online stores than from traditional brick-and-mortar stores. Visiting physical stores has also been restricted due to COVID-19 protocols worldwide.
All these factors increase the importance of online payments. Thus, every clothing store, big or newbie, is looking around to find the best online payment platform to integrate it into their websites. When the payment system is seamless, buyer trust increases automatically.
This industry is a bit underestimated when we talk about online payment. Content creators worldwide earn not only from their content but also in the form of contributions or donations. You must have heard about the platform called Patreon.
Platforms like Patreon help content creators get assistance from their followers so they can keep producing content without worrying much about earnings. These platforms also need online payment platforms to link with their websites.
As per a study, it is projected that in 2027, 86.5 million people will be freelancing in the United States and will make up 50.9 percent of the total U.S. workforce. This shows the increase of the freelance workforce and expansion of the freelance industry.
Freelancing platforms such as Fiverr and UpWork always need a reliable online payment gateway to serve their customers. Therefore, there is fierce competition between online payment platform designers to offer this industry some top-notch payment gateways.
Due to the increasing trend of the documented economy globally, the importance of digital payments has widened significantly. This has also triggered businesses to make their websites not only user-friendly but payment-friendly as well.
There are more industries where online payment platforms have become a must-have, but those, as mentioned above, are top-notch.