5 Benefits of Online Transaction Systems for Business Owners and Consumers

Did you know? In this digital age, everything can be done conveniently, including buying and selling. Previously, sellers and buyers could only conduct transactions face-to-face. However, nowadays, sellers and buyers can also engage in transactions without meeting each other, or online, through e-commerce apps, websites, marketplaces, or social media.

You Must Know the Definition of Online Transactions

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So, the definition of online transactions is a buying and selling activity utilizing the internet network as a means of transaction. Because of this, it's no wonder that online transactions have become one of the essential needs for people in conducting economic activities, especially in Indonesia, where online transactions are regulated by the prevailing laws, namely Law No. 11 of 2008 concerning ITE.

So, what are the benefits of online transaction systems?

Benefits of Online Transaction Systems for Business Owners

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1. Relatively Low Capital

Starting a conventional business typically requires a considerable amount of capital to ensure smooth transactions. From setting up a store, and allocating a budget for promotions, to spending time meeting with customers. However, with an online transaction system, the required capital is only limited to computer devices, laptops, or smartphones, internet connections, and some software to support transactions.

2. Broader and Unlimited Business Reach

In conventional businesses, transactions have spatial and time limitations (store operating hours). Meanwhile, in online businesses, transactions can occur anytime, anywhere, and can reach anyone worldwide.

3. Faster and Easier Information Updates

Previously, business owners spent a lot of time providing information about products and services to customers. With the online transaction system, you can share and update the information customers need through websites, marketplaces, e-commerce apps, or social media within minutes.

4. Enhances Company Image

In addition to accommodating customer needs, online transactions can also build your business's credibility and professionalism. Therefore, customers' trust in the services you provide will increase.

5. More Convenient Payment Systems

During online transactions, you'll have easy payment systems, including not needing a cashier, providing physical receipts, or doing manual bookkeeping. Why? Because every online payment transaction is directly recorded in your account, especially when using an integrated online payment system.

Benefits of Online Transaction Systems for Consumers

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1. Shopping Becomes More Convenient

Consumers no longer need to spend time and energy visiting physical stores. They can simply open marketplaces, websites, e-commerce apps, or social media to buy the products they need.

2. Quick Product Comparisons

Consumers can now quickly and easily compare prices and quality of products from various online stores without needing to visit each physical store.

3. More Opportunities for Savings

Today, many online stores or e-commerce platforms offer various discounts, cashback, or promotions to customers. By taking advantage of these online promos, customers can buy products at lower prices and save money.

4. Varied Payment Methods

Online transactions allow consumers to make payments using various payment methods. Thus, consumers can choose payment methods that suit their preferences.

5. Secure Transactions

With online transactions, consumers can avoid theft when using ATMs or in other public places. Consumers can also select trusted online stores when shopping online. One way is by choosing online stores that also implement digital payment systems (third parties), ensuring that the money will be transferred to the seller only after the transaction is completed.

Those are some insights into online transactions and the benefits they offer, both for business owners and consumers. To meet consumer needs in online transactions, use transaction systems that provide digital payment services for your online business to easily manage every transaction and provide various payment method options for consumers.

Recommended Online Transaction Systems

After understanding the definition of online transactions and their benefits from the perspectives of business owners and consumers, you should know recommendations suitable for expanding your business further. One such transaction system that offers Digital Payments options is ESB Order. ESB is a technology provider specializing in the restaurant business, offering features that improve efficiency and streamline operations for F&B businesses, including ESB Order.

ESB Order provides ease of use for all users in operating the provided features. Even with just a smartphone, you can transact directly. This software is specifically designed for players in the F&B industry. With ESB Order, you can reach customers more widely and limitlessly. For more information, please visit the ESB website.