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What is a Digital Onboarding Process?

Category: Ecommerce

Digital Onboarding Process

When it comes to welcoming new employees or customers, creating a positive and engaging experience is critical for long-term success. One way to achieve this is by using a digital onboarding process that leverages technology to streamline the process and make it more efficient and effective. In this article, we will explore what digital onboarding is, its benefits, key components, and best practices for implementing it.

What is Digital Onboarding?

Digital onboarding is a process of using technology to welcome and integrate new employees or customers into an organization. The process typically involves the use of digital tools such as online portals, mobile apps, and learning management systems to automate and streamline the onboarding experience. This process can include a range of activities, such as filling out forms, providing access to learning materials, and connecting with colleagues or other customers. By leveraging technology, companies can reduce costs, improve engagement and retention, increase efficiency and accuracy, and enhance compliance and security.

Benefits of Implementing a Digital Onboarding Process

There are several noteworthy advantages of switching to a digital onboarding process. Some benefits include the following.

● Time and Cost Savings

By eliminating the need for paper-based forms and manual processing, digital onboarding can save time and reduce costs associated with onboarding. New hires can complete their onboarding process from anywhere, at any time, using their own device instead of spending hours filling out paperwork and scheduling appointments with HR. This also means that HR teams can focus on other important tasks, such as training and development.

● Improved Engagement and Retention

Digital onboarding can provide an engaging and interactive experience that helps new employees or customers feel welcome and connected to the organization, leading to higher retention rates. By providing access to interactive learning materials, online communities, and social events, digital onboarding can help new hires, or customers develop a sense of belonging and purpose within the organization.

● Increased Efficiency and Accuracy

By automating the onboarding process, digital onboarding can help companies reduce errors and ensure that all new employees or customers receive the same information and complete the necessary steps. This can lead to improved compliance and security, as well as more accurate data collection and reporting. Digital onboarding also allows companies to track progress in real-time, identify bottlenecks, and make necessary adjustments to the process.

● Consistent Onboarding Experience

Digital onboarding ensures that all new hires or customers receive a consistent onboarding experience, regardless of their location or department. This can help reinforce the company’s culture and values and ensure everyone is working towards the same goals.

● Better Remote Onboarding

With more companies offering remote work options, digital onboarding has become essential in ensuring that new employees or customers feel connected to the organization, despite not being physically present. By leveraging video conferencing tools, online platforms, and digital communication, companies can provide a seamless and engaging onboarding experience, no matter where their new hires are located.

Key Components of the Digital Onboarding Process

  • Pre-Onboarding: Communication and Preparation

During the pre-onboarding stage, new employees or customers receive communication from the organization that sets the tone for the onboarding process. This may include welcome emails, instructions on how to access online portals or platforms, and relevant information about the organization.

  • Onboarding: Welcome and Orientation

During the onboarding stage, new employees or customers receive a more comprehensive introduction to the organization, including its mission, values, and culture. They may also complete forms, receive training, and meet their colleagues.

  • Post-Onboarding: Continued Learning and Engagement

After the initial onboarding is complete, the organization continues to support new employees or customers by providing access to additional resources and training materials. This helps them continue to learn and grow in their role and engage with the organization over time.

Best Practices for an Effective Digital Onboarding Process

● Plan Ahead

Before implementing a digital onboarding process, it’s important to plan ahead and identify the key steps involved in the process. This includes identifying the necessary digital tools and resources, as well as the roles and responsibilities of everyone involved in the process.

● Personalize the Onboarding Experience

To ensure that new employees or customers feel engaged and connected to the organization, it’s important to personalize the onboarding experience. This can include creating customized learning paths, providing relevant resources and materials, and offering opportunities for interaction and feedback.

● Communicate Regularly

Clear communication is essential throughout the onboarding process, from pre-onboarding to post-onboarding. Companies should provide regular updates on the onboarding process, answer any questions that arise, and provide feedback and support to new employees or customers.

● Leverage Technology

Companies should leverage technology wherever possible to streamline the onboarding process and make it more efficient. This includes using digital tools such as online portals, mobile apps, and learning management systems to automate and track the onboarding process.

● Provide Ongoing Support

Onboarding doesn’t end once new employees or customers have completed the initial onboarding process. It’s important to provide ongoing support and development opportunities to ensure that they continue to feel engaged and connected to the organization.

● Monitor and Evaluate

Companies should regularly monitor and evaluate its performance to ensure that the digital onboarding process is effective. This includes tracking completion rates, soliciting feedback from new employees or customers, and making necessary adjustments to the process.

● Ensure Compliance and Security

Compliance and security should be a top priority throughout the onboarding process. Companies should ensure that all data collected during the process is secure and compliant with relevant regulations and that all new employees or customers are properly trained on relevant policies and procedures.

Also Read: How Real-Time Onboarding Works And What Are Its Benefits

Conclusion

Digital onboarding is critical to any modern organization’s HR or customer service strategy. By leveraging technology to automate and streamline the onboarding process, companies can save time, reduce costs, and provide an engaging and consistent onboarding experience to new employees or customers. Furthermore, digital onboarding ensures that everyone receives the same information and completes the necessary steps, leading to improved compliance and security.

To create an effective digital onboarding process, companies should follow best practices such as planning ahead, personalizing the onboarding experience, leveraging technology, providing ongoing support, and monitoring and evaluating the process. Doing so can create a positive first impression that sets the tone for a long and successful relationship with their employees or customers. An effective digital onboarding process can help organizations achieve their goals and create a culture of engagement, productivity, and growth.

E-commerce valuation: Measure your online business worth

Whether you’re looking to sell your online business, or simply to gauge how much it’s worth, e-commerce valuation is a useful process that’s not always intuitive.

That’s why this article is going to take you through the steps and workflows associated with the task.

We’ll also discuss the reasons why you’d need to conduct a valuation in the first place, as well as covering the factors to take into consideration to help you start off on the right foot.

Importance of business valuation

E-commerce valuation lets you gauge the rate at which your online-based company has grown.

That’s particularly useful if you’re new to the world of e-commerce business, or if you’re looking to grow in the near future–in which case you’ll also benefit from financial technology like Paymes by PayTabs, which helps you get into the e-commerce world more quickly and easily.

E-commerce valuation: Measure your online business worth
Image sourced from PayTabs.com

Business valuation is also crucial when you’re selling your company. It’s difficult to secure buyers without proof that your company is highly valuable, after all.

By conducting regular or semi-regular business valuations, you can ensure your company is still growing at acceptable rates. You can also compare its estimated growth with its actual growth, which helps you create more accurate estimates in the future.

E-commerce business valuation methods

In order to work out what your business’ total value is, you must first determine what your earnings are, as these make up a major factor in the overall figure. To that end, you can use the following methods.

SDE method

SDE, or Seller’s Discretionary Earnings, emphasizes the importance of your company’s cash flow history. It can be calculated as follows:

SDE = Revenue – Cost of Goods Sold – Operating Expenses + Owner Compensation

As it’s a very straightforward formula and approach, the SDE method is popular among businesses that don’t have specific accounting skills.

EBIDTA method

Short for Earnings Before Interests and Depreciation and Amortization, the EBITDA method determines your e-commerce store’s overall profitability instead of focusing exclusively on its actual profits in a given year.

That’s why EBITDA is more accurate, on the whole.

Mature businesses that aren’t going through sudden growth jumps tend to prefer EBITDA for this reason.
E-commerce valuation: Measure your online business worth

Free to use image sourced from Unsplash

DCF analysis

Another popular method is DCF (Discounted Cash Flow) analysis. This focuses on the future, and on extrapolating based on current facts rather than historical ones.

DCF analysis calculates the future worth of a company based on how long it will most likely take before that business starts seeing ROI on the products they sell. Alternatively, it can consider the length of time it will take before companies get ROI on their customers.

Revenue and growth valuation

This approach is great for e-commerce businesses that focus on rapid, large-scale growth, including startups and other high-value new e-commerce companies.

Obtaining your values in this method is quite simple. All you need to do is set a fixed period, usually a year, and look at the total revenue your company earned in that time. We’ll be taking that number and applying a multiplier to it shortly; this is the earnings multiple.

To easily access the data you’ll need for this valuation, you can use specifically designed accounting software for online sellers. This can track and monitor your financial information so you’ll always have access to the necessary data.
E-commerce valuation: Measure your online business worth

Screenshot taken from sage.com

Critical drivers when valuing an e-commerce business

Since a valuation is meant to give an overview of the business’ value as a whole, it has to take a lot of key variables into account.

Here’s a quick overview of some of the other biggest factors to consider.

Business age

How long has your company existed for? If it’s very young, you may have a harder time proving that any financial success it’s enjoyed can be replicated going forward, which negatively affects its value. On the other hand, an older business will have a provable record of surviving difficult times, which improves its overall value.

Financial health and records

Are your records, especially your financial ones, well-organized and easy to use? Anyone auditing your business should be able to find what they need in a matter of minutes. Otherwise, you risk sounding like your valuation is not based on facts.

If you’re a UK business owner, getting a headstart on the HMRC’s Making Tax Digital (MTD) scheme will keep your records organized and up-to-date. Even if you’re not based in the UK, adopting a digital approach to your taxes and financial records will keep them streamlined and make backing up your valuation that much easier.

It will also demonstrate to any prospective buyers that you’re ready to handle any new developments quickly and effectively. These could be developments like MTD in the UK or the Federal Decree Law No. 47 that has recently been passed in the UAE.
E-commerce valuation: Measure your online business worth

Image sourced from sage.com

Revenue concentration

Does all of your income originate from a single source, or are your sources of revenue more diversified? Do you trade internationally, or is your business focused on dealing with local clients?

A company with high revenue concentration is less likely to sell well, as this creates more liabilities and makes it harder to deal with unpredictable factors in the future (or unprecedented events like the global pandemic).

RRC rate (Refund, Returns, Chargebacks)

Does your company take a hands-off approach to customer relationships, or do you put in active work to educate customers and nurture them? If it’s the latter, you’re likely to see fewer RRCs, since customers will only make educated choices about purchases and are therefore more likely to keep the items they buy.

Website

E-commerce sites can only be profitable when enough people visit them. This is why the levels of traffic your online store sees factor into its earnings multiple. This is because a store that already has high traffic levels as a result of excellent website design has greater value to a prospective buyer.

The takeaway

E-commerce valuation can be difficult, but it’s a very useful process to know how to carry out. When you’re able to value your business accurately, you’ll have a clear indicator of how much it’s worth, and how much it’s grown over the years.

Also, a valuation lets you see your business’ worth in the context of its industry, age, and practices. This helps you get a realistic idea of the total worth of your business whether you’re based in Europe, Middle East, or America.

Bio:

Sage.comSage is the global market leader for technology that exists to knock down barriers so everyone can thrive. Millions of small and mid-sized businesses, our partners, and accountants trust our finance, HR, and payroll software to make work and money flow. We digitise business processes, strengthening relationships between SMBs and customers, suppliers, employees, banks, and governments. Knocking down barriers also means we use our time, technology, and experience to support digital inequality, economic inequality, and the climate crisis.

WooCommerce Payment Gateways

WooCommerce is an open-source e-commerce plugin for WordPress, one of the internet’s most widely used content management systems (CMS). It’s an easy-to-use platform for online stores, which enables users to sell products and services to customers. When it comes to payment options, WooCommerce integrates with various payment gateways, offering merchants a plethora of options to choose from. Choosing the best WooCommerce payment gateway for your store can be tricky, as several factors require careful consideration.

What are WooCommerce Payment Gateways?

A payment gateway is a service that processes payments for online businesses. It’s a third-party service that facilitates secure transactions between a customer and a merchant.

Also Read: Five Tips to Secure Your Online Transactions

WooCommerce payment gateways are services that integrate with the WooCommerce platform and allow merchants to accept online payments from customers. Payment gateways ensure secure transactions by encrypting sensitive customer data, such as credit card details, ensuring customer trust and security.

Factors to consider while choosing the Best WooCommerce Payment Gateway

Choosing the right WooCommerce payment gateway for your online store is a crucial decision. Here are some factors to consider when selecting the best payment gateway:

Fees and Charges

Various payment gateways charge different transaction fees, setup fees, and other charges. It is essential to consider the cost-effectiveness of the gateway you choose. Calculate the total cost of using the payment gateway, including any fixed and variable fees, and compare it with other payment gateways to determine the most cost-effective option.

Supported Payment Methods

Different payment gateways support various payment methods, including credit cards, debit cards, e-wallets, and bank transfers. It’s crucial to choose a payment gateway that supports the payment methods preferred by your customers. Offering a variety of payment methods can improve the customer experience and increase conversion rates.

Security

Payment gateway security is of utmost importance as it involves sensitive customer data. Ensure that your payment gateway is PCI-DSS compliant and uses encryption technologies such as SSL/TLS to protect customer data. A secure payment gateway helps build trust with your customers and reduces the risk of fraudulent activities.

User Experience

The payment gateway’s checkout process and user interface can impact the customer experience and conversion rates. Look for a payment gateway that offers a smooth and user-friendly checkout process. Features such as one-click checkout, mobile-optimized checkout, and saved payment information can enhance the customer experience and make it easier for customers to complete their purchases.

Integration

Ensure that the payment gateway you choose integrates well with your WooCommerce store and other third-party tools. Consider the tools you use for accounting, inventory management, email marketing, and customer relationship management, and ensure that the payment gateway you choose can integrate seamlessly with them. A well-integrated payment gateway can streamline your business operations and improve efficiency.

Customer Support

Consider the quality and availability of customer support the payment gateway provider offers. Ensure the provider offers prompt and efficient customer support and has a comprehensive support system to address any issues or concerns.

6 Best WooCommerce Payment Gateways for WordPress

 1.Stripe

Stripe is a popular payment gateway that allows merchants to accept payments through credit cards, debit cards, and digital wallets. It is easy to set up and offers a smooth checkout experience with features such as saved payment information and one-click checkout. Stripe is also known for its robust security features, including PCI-DSS compliance and fraud protection.

2.PayPal

PayPal offers various payment options, including debit cards and credit cards, as well as PayPal accounts. The payment gateway is known for its ease of use and offers a smooth checkout experience for customers. PayPal also offers a range of security features, including fraud detection, eCheck processing and ACH payments, and encryption technologies.

3.PayTabs

PayTabs is a payment gateway that supports a variety of payment options, including debit cards, credit cards, and e-wallets. This easy-to-set-up payment gateway offers a user-friendly checkout experience with features such as saved payment information and mobile-optimized checkout. PayTabs also offers strong security features, including invoices and QR Codes, encryption technologies, repeat billing, and fraud detection.

4.Authorize.Net

Authorize.Net supports a variety of payment methods, including credit cards, debit cards, and digital wallets. It offers a user-friendly checkout experience and a range of security features, including advanced fraud detection, invoicing, and secure customer data.

5.Square

This allows merchants to accept payments through digital wallets, credit cards, and debit cards. Square offers a seamless checkout experience with features such as saved payment information and one-click checkout. It also provides omnichannel payment, competitive pricing, and first-rate security features, including PCI-DSS compliance and fraud protection.

6.Verifone

This payment gateway was previously known as 2Checkout. It supports a variety of payment methods, including credit cards, debit cards, and PayPal. It offers a user-friendly checkout process, subscription billing, fraud detection, global payments, and encryption technologies.

Benefits of WooCommerce Payment Gateways

WooCommerce payment gateways offer a range of benefits to both merchants and customers. In this section, we will elaborate on some advantages of using a WooCommerce payment gateway.

Increased Security

One of the primary benefits of using a WooCommerce payment gateway is increased security. Payment gateways use encryption technologies such as SSL/TLS to ensure that customer data is secure and protected from fraud and cyberattacks. Payment gateways also adhere to strict security protocols, such as PCI-DSS compliance, to ensure that customer data is handled securely. A payment gateway lets merchants assure their customers that their transactions are safe and secure.

Convenience

Payment gateways offer customers the convenience of paying through various payment methods, including credit cards, debit cards, e-wallets, and bank transfers. By offering multiple payment options, merchants can cater to a broader customer base and improve the customer experience. Payment gateways also facilitate automatic recurring payments, making it easier for customers to pay for subscription-based services.

Global Reach

Payment gateways allow businesses to reach customers worldwide and accept payments in different currencies. By supporting multiple currencies, payment gateways can help merchants to expand their business globally and reach new customers. Payment gateways also facilitate cross-border payments, enabling merchants to sell products and services internationally.

Improved Conversion Rates

A seamless payment gateway user experience can improve conversion rates and reduce cart abandonment rates. Payment gateways offer a smooth and user-friendly checkout process, enhancing the customer experience and making customers more likely to complete their purchases. Payment gateways also offer features such as saved payment information, one-click checkout, and mobile-optimized checkout, which can further enhance the customer experience and improve conversion rates.

Integration

WooCommerce payment gateways can integrate well with various third-party tools, such as accounting software, email marketing services, and customer relationship management (CRM) systems. By integrating with other tools, merchants can automate tasks such as invoicing, email marketing, and customer support, making it easier to manage their business.

Conclusion

Choosing the best payment gateway for your WooCommerce store is essential to your business’s success. It’s important to consider factors such as fees, supported payment methods, security, user experience, and integration when making a decision. WooCommerce payment gateways like PayTabs offer a wide range of benefits, including increased security, convenience, global reach, and improved conversion rates. PayTabs is a one-stop shop for all payment-related issues for start-ups, e-commerce, web stores, or online business owners. It supports multiple payment methods so customers can choose their preferred payment method for your product or service.

Payment Page Influence Purchasing Decisions

Payment Page Influence Purchasing Decisions

Introduction

With the development and advancement in e-commerce, the online payment methods have seen a massive increase across the globe. Now, a customer has multiple options to complete an online transaction and a number of factors to consider the favoured option. The payment page design of a website is one of the key determinants while making a choice. A user-friendly payment page saves a lot of time and enables smooth transactions. Have you all experienced a complex payment page which takes a lot of time and is difficult to operate? This could actually lead to incomplete transactions and ultimately lead to a loss of customer-base.

Since the payment page is the last step of a purchase, it is essential to have an effective and simple checkout process. So, what goes into building a frictionless payment page? In this article, we will reveal some of the best payment page design examples that will encourage customers to make frequent purchases. Read on.

What Goes In A Good Payment Page?

If you want to know about the best checkout page, you need to explore multiple payment page design options. The checkout page design you choose depends on your preferences. You can also take the help of expert web designers for the best results.

Browsing through templates will also help you to come up with a personalized payment page. A smooth UI makes it easier for customers to navigate the website. Let us look at the different payment page designs:

Payment Page Design Examples

  • Figma

Figma is one of the best examples of a user-friendly design. The payment information is minimal. As a seller, the only field you need to access is entering details of the credit or debit card..

All other information is extraneous. With customization, you can keep the payment form as simple as possible. Figma known for its simple and sleek payment gateway design makes it easier for customers to make purchases.

  • Dribble

The biggest benefit of this design is that it highlights simplicity with an eye-catchy interface.

Dribble’s checkout design has an intuitive user interface that keeps the information field minimum for the customers. This makes it more likely for customers to complete the process and make a purchase.

It is critical for your business to keep the checkout page as simple as possible to motivate the customers to complete the payment process. The payment page provides an organized and clean format with inviting colors.

  • Nike

The feature of the product image appearing at the checkout makes it easier for customers to review what they are buying before completing the transaction.

Nike uses the three-step process and creates a display where all steps are on a single page. This eliminates the use of multiple pages to complete a transaction.

  • Minimalist Page Idea

The minimalist design is the same as the Nike design, which displays the item on the checkout page and attracts the customers further about the purchase. The design utilizes the space between the images and texts beautifully.

With everything on one page, customers find it convenient to make a purchase.

  • Apple

The checkout page of Apple has a simple white background. All you can see are the blue call-to-action buttons. It makes it easier for the customers to know what action Apple wants them to take. Customers do not need to sign up before buying any product. They can shop as guests, reducing the cart abandonment problem.

Also Read: How to Integrate Payment System Into the Existing App

  • Nixon

Customers generally go through several steps before completing the checkout process. Sometimes, it is longer than expected. Hence, Nixon uses the progress bar at the top of the page to show customers the development of the purchasing process.

  • eBags

The elegant and simple layout makes the payment page design sleek and stylish. Customers can customize their cart when buying the products. The website clearly says which information is mandatory for customers to fill. To make it even better, eBags have a live chat option, allowing customers to ask questions and get answers immediately during the shopping experience. Many customers can get points with each upcoming purchase.

How to Optimize The Payment Page?

For a great payment gateway page design, the idea should be to eventually increase sales and reduce the number of unsuccessful transactions. You can optimize the payment page in the following ways:

  • Usability

The primary goal of the usability analysis is in the number of steps and actions from the moment you click the pay button until the payment completes. It is essential to reduce the number of steps, structure them logically, and arrange the essential elements in a sequence convenient for human perception. The buyer must understand the type of button that should be pressed at a given time to move towards the purchase completion.

  • Financial Security

The payment page should be individually generated for each transaction. User data should be reliably protected from intruders. Whenever the billing details and personal information of the customer are involved in the checkout process, it is necessary to consider the precautions to keep the information secure.

Also Read: How to Increase Alternative Checkout Options

Conclusion

To conclude, if you are facing issues with making purchases online and are confused about what to do, an easy-to-use and simple payment page design can be a safe solution.

Integrate Recurring Payments

Integrate Recurring Payments

In the modern ecosystem, customers have understood the benefits of paying to access a product rather than owning it outright. The subscription and recurring revenue model have taken over the one-time sales model with more companies providing recurring payment services. If you’re new to this developing payment system, this article will provide you with an overview of the payment model, and how you can integrate it into your system, and make profits.

What is the Recurring Payment Model?

In a recurring payment business model, the vendor provides access to their services or products for a recurring fee charged at regular intervals. Once popular for magazine or newspaper subscriptions and gym memberships, recurring payments are becoming common for other industries as well.

Recurring payments are automatic payments that appear once a customer authorises the merchant to charge for a product or service on a predefined schedule. If done correctly, recurring payments can save a lot of time for the business and help in retaining customers. With recurring payments, merchants wouldn’t need to raise payment requests every time. With the consent of the customer to charge their card, the payments can be done automatically on an ongoing basis.

How to Start Accepting Recurring Payments?

To adopt the recurring payment model, you’ll need two blocks: billing logic and payment processing. Billing logic calculates the price for the product taking into account several factors while the payment processing block executes the actual transaction by charging the customer’s card.

Also Read: 5 Common Payment Processing Challenges Small Businesses Face

If you have a billing engine in place then you can start accepting recurring payments with the help of a payment processor. Being an all-in-one payment solution, payment gateways are suitable for this payment method. They can automate the recurring billing system and help you scale your subscription business.

In addition to selecting a payment gateway, you need to decide which method to offer customers. It’ll depend largely on your customer base and how they like to make payments. Once the payment aspect is cleared, it’s time to decide on the billing software. Good recurring billing software can easily integrate with your payment processor, support one-time payments, and make the whole process agile and hassle-free for your customers.

Also Read: Understanding the difference between a payment gateway and a payment processor

How to Integrate Recurring Payments?

  1. The first step is to select the appropriate payment gateway that you want to integrate. Choosing the payment gateway depends on several different factors relating to your business. Select a payment gateway that supports international payments and can accept foreign currencies.
  2. Select a recurring billing software that can generate invoices, perform checkout, integrate accounts, team dashboard, PCI compliance, transactional emails, and more.
  3. After integration, customise the tools to match your business.
  4. Perform testing to make sure that the integration works fine.
  5. Set up a notification and reminder system that notifies your customers about upcoming payments and has a clear understanding of how the recurring payments work.

Benefits of the Recurring Payments Model

Predictable Revenue

Traditional businesses are subject to market fluctuations. With recurring payments, organisations always have a steady source of revenue at regular intervals. This helps businesses to plan their expenses, stock inventory, spend on marketing, and create growth strategies.

Attract More Customers

The premise of paying less money across intervals instead of paying too much at once has enticed customers for a long time. By dividing the payment options into smaller chunks, you can attract more customers and reduce their price barrier. Subscriptions and EMIs are a great way to offer products and make them more accessible to customers. So while the monthly payment might not impact them much, they can end up giving you more money over the entire term.

Customer Retention

Repeat customers make up a huge chunk of the market for businesses. Pitching your product to new customers every time for just one sale isn’t that economical. Selling those same products to existing customers, however, isn’t that difficult as they are already familiar with your products and don’t have to go through the entire process again. In fact, retaining customers has been found to be five times cheaper than acquiring new ones.

Speeds Up Transactions

Once it is set up, billing gets automated and requires little to no maintenance. There’s no need to start a new payment, every month. Once a date is defined by the customer and a payment method is selected, money transfer happens automatically.

Takeaway

The recurring payment system is becoming popular among customers as well as business owners. They provide a certain freedom to both the stakeholders and ensure that there is no disconnect in the service as long as timely payments are made. Integrating a recurring payment gateway like PayTabs will allow you to set up scheduled payments with your customers and maintain a steady stream of income every month. It supports multiple payment methods so that your customer can pay for your goods or services however they like.