Bank transfer or credit card?
Did you know that there are certain payment methods that you cannot offer to your customers?
Like most businesses, it is very likely that your services or products are sold online. This way of selling brings its share of advantages! No need to travel and your customer can shop at the time that suits them best. Everyone benefits! On the other hand, you should also know that certain rules must still be respected. For the good of your customers, but also for you!
Requesting a payment online automatically becomes a distance selling contract.
In this type of contract, you agree to provide your customers with any product or service they pay you for. And because payment is made in advance, the only payment method accepted is credit card! That's not me saying it, that's the Office of Consumer Protection.
You may have noticed this when you yourself have shopped online .
Wire transfers, checks and cash are not in the options! Why? Because credit card companies offer a multitude of consumer protections. So, if anything were to happen, your customer could cancel the payment directly with their credit card company. This is what protects them from fraudulent sites!
Basically, if everything is done properly on your end, you have no reason to worry. As long as you honor your contract and your client gets what they paid you for, within the expected time frame, there is no need to panic!
This also means that if you absolutely want to be paid in another way, you must do so at the same time as your product or service is delivered to the customer. If you sell online, I am telling you that this will unfortunately be impossible.
This is why all transactional website platforms systematically offer payment methods such as Paypal, Stripe, Shop Pay or Square, to name just a few.
References
I invite you to visit the website of the Office of Consumer Protection to learn a little more about the subject and to know your obligations as a merchant.
Good to know for merchants: Contracts concluded online (gouv.qc.ca)Good to know for consumers: Online purchases (gouv.qc.ca)