Steps to Integrate Online Payment Gateway with Best Invoice Software for Small Businesses

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Steps to Integrate Online Payment Gateway

Are you a small business owner struggling in an ocean of invoices and payment hassles? Earlier invoicing has been handled in the old-fashioned way of writing each detail on paper. And the payment process happens at a slow pace. However, the current era is completely dependent on digital aids. Here, everything wants to be done in a fraction of a second. Or else you will be kicked out of the market you are in.

There are numerous invoicing software programs available for free. All you have to do is choose the platform that aligns with your business.  But what if you could transform your billing process, delight your clients, and get paid faster? That's exactly what we will explore in this guide to integrating online payment gateways with top-notch invoice software. 

Professionals such as freelancers, consultants, and small business owners need efficient ways to manage invoices and receive payments from the supported payment gateways. The advancement of integrating an online payment gateway with the invoicing software is a lifesaver. It is a convenient way for both entrepreneurs and customers. Now, not only the big-shot companies have this facility. As a newbie business owner, you can also brandize your professionalism in such small yet sufficient things.

Why It is Important to Integrate Payment Gateway Matters for Small Businesses 

Before getting into the step-by-step process, it is important to understand why payment gateway integration with invoicing software is crucial for small businesses. Here’s what it offers: 

Faster Payments: Customers can pay directly from the invoice through secure online methods for quicker transactions. It helps you to eliminate the need for paper checks or manual bank transfers.

Enhanced Security: Payment gateways offer encryption, fraud detection, and protection to ensure secure financial transactions. When it comes to familiar payment gateways, people will trust the transactions for their authenticity.

Automated Processes: Integrating invoicing software for small businesses with a payment gateway automates the billing process. Your customer can make payments directly. The transaction can be automatically reflected in your system. Do business with zero human error. 

Elevate Your Identity: Accepting multiple payment methods shows professionalism and increases customer trust. 

Global Reach: Online payment gateways allow businesses to accept payments from customers around the world. 

Check List of Integrating Online Payment Gateway with Best Invoice Software for Small Businesses

  1. Most online payment gateways come with PCI-DSS (Payment Card Industry Data Security Standard) to protect your client’s data.
  2. Maintain compliance and use HTTPS for secure transactions. 
  3. Moreover, as a professional, it is your duty to clearly indicate possible payment details on your invoices beforehand.
  4. If your business operates internationally, opt for a gateway that supports multi-currency payments.
  5. In InvoiceTemple, the user can easily integrate their pre-existing account or create a new account with the available payment gateways. It has popular payment gateways like Paypal for effortless cashflow from customers all over the world. 
  6. Once your payment gateways are integrated, use InvoiceTemple's dashboard to track payments in real-time. You can monitor completed, pending, and failed transactions to stay on top of your finances. 
  7. Stay updated with the transaction fees of the integrated payment platforms. It may vary for location and payment type.

Be aware of these fees. Some gateways may ask for hidden fees to carry on your services or manage your cash flow. InvoiceTemple allows you to view transaction details for easier reconciliation.

Transaction Fee for PayPal

PayPal is ideal for international clients who prefer not to use cards. This integrated online payment platform offers strong integrations with the best invoice software for small businesses. It supports more than 200 countries. The transaction fees of PayPal depend upon the type of transaction and the location. Let’s take a look at the transaction fee breakdown for each typical fee collected by PayPal.

Mostly, PayPal charges between 1.90% and 3.49%. Moreover, you may need to pay a fixed fee per transaction. For instance, if your customer is from the US and you need to receive the amount for your service, PayPal charges the above-mentioned percentage as processing fees.

Step-by-Step Process of Integrating Payment Gateway Account 

Step 1: Log in to your InvoiceTemple profile or create a new account

Step 2: Then, choose the ‘Settings’ menu. You will find ‘Online Payments’ in the default section.

Step 3: Click the button ‘Set up Now’ under the PayPal section. It will prompt you to enter your existing PayPal account.

Step 4: 

  • Once you log in with your credentials, you will be redirected to the InvoiceTemple online payments interface. 
  • Or create a sign-up for a new business account on the PayPal website.
  • Enter your email address and fill in the required information, such as business details and financial information.
  • Verify your email and link your bank account to PayPal for payouts. 

Step 5: In InvoiceTemple’s online payment console, you can see the active status of your PayPal account as a sign of successful integration.

Test the Connection With the Best Invoice Software for Small Businesses

Once you have completed the setup with InvoiceTemple, the best invoice software for small businesses, it is essential to test the transaction process. So, you can stay assured of a successful payment process. All you have to do is create a new invoice in this invoicing software and enable PayPal as the payment option. Send the invoice and proceed to pay the bill amount. It will help you to know whether the integrated account of the payment gateway is working fine. You can see the reflection of your payment in your bank or PayPal account.

Things To Consider While Customising the Payment Option in Your Invoices

After completing the integration setup, it is better to include clear and precise instructions on the available options.

  • Highlight the payment methods customers can use, such as credit cards, debit cards, or direct bank transfers.
  • Ensure to include clear payment deadlines to encourage timely payments. 
  • Add a clickable payment link that redirects customers to the payment gateway’s secure page. 

Best Practices for Payment Gateway Integration with InvoiceTemple

The integration of a payment gateway with your invoicing software has numerous benefits for most small businesses. So, it has some major concerns to follow for smooth integration.

  1. Regulatory Adherence

Payment gateways like PayPal collect sensitive information about the users’ bank and transaction details. To protect the client’s details, PayPal has been compiled with PCI-DSS (Payment Card Industry Data Security Standard). As a user, you can ensure to maintain the regulation, such as checking the HTTPS protocol while processing transactions.

  1. Wide Options for Payment Process

PayPal is the best option for dealing with international clients. Sometimes, people do not prefer to use their cards. PayPal ensures your transaction completion without any hindrance.

  1. Monitor Payment Activity

InvoiceTemple helps you track payments in real time. From its dashboard, users can easily monitor the paid, pending, and partial payment details. It is ideal to stay informed regularly about the time taken for your clients to complete the payments. Also, keep your invoicing software updated for optimal performance.

  1. Provide Detailed Instruction

While you generate an invoice or estimate for your customers, indicate the accepted payment methods from your company side. As an invoicing software, InvoiceTemple allows you to enable the online payment gateway option along with your invoice. You have to send an invoice directly to your customers as an e-copy. So, they can use this feature to complete their payments.

  1. Knowledge About Transaction Fees

The transaction fees may vary from time to time. Stay updated with the gateway platforms from time to time. However, InvoiceTemple separates each transaction’s details for detailed understanding.

Key Takeaways

Integrating an online payment gateway with the best invoice software for small businesses, such as InvoiceTemple, offers several advantages. You can reduce manual work, improve cash flow, and provide a more professional and streamlined experience for your clients. 

By following the steps outlined above, you can set up your payment gateways and take full advantage of InvoiceTemple’s features to manage your invoicing and payments effortlessly. 

So, what are you waiting for? Take the first step towards simplifying your payment process—integrate PayPal with InvoiceTemple today and see the difference it makes for your business.