Payment solutions enable business entities to transact payments for goods and services. Offline payments are a more traditional method of making payments, as this is an internet-free procedure. Retailers today have the advantage of offering online payment solutions in correlation with offline methods to capture a larger customer base.
The reason for offering offline payment methods to clients
Offline payment solutions are largely favored by a number of retailers as they enable them to process payments for goods and services without using the internet. This serves as an advantage as these payments will be processed regardless of having the correct online software or process in place. As a result of their easy and simple processing, offline payments are popular amongst retailers across the globe.
The following is a brief list of the most common offline payments implemented by businesses:
- Bank Wires
- Cash Payments
- Cheque Payments
- Postal Payments
- Telephone Payments
- POS Terminals
These were initially the first methods of payment companies would utilize, but since the introduction of online payment solutions, there is a much wider scope of solutions for companies to select from. Through the introduction of online credit/debit card processing, e-wallets and e-check processing, payment processing has seen a rapid shift to online methods.
Offline payment solutions often tend to give consumers the sense of security that their transactions are free from risk of fraud, but this in many cases is due to individuals being new to the concept of online solutions. They are a great way of appealing to smaller and domestic markets while building brand awareness before looking to appeal to a larger audience online.