Etsy reports that sellers who accept multiple forms of payment experience 49% more sales than sellers who only accept one type of payment. With Etsy Payments (formerly known as Etsy Direct Checkout), it’s easy to accept credit cards or debit cards, transfers from select banks, Apple Pay, Android Pay, Paypal, Etsy gift cards, and Etsy credits. Find out how you can use Etsy Payments to grow your small business and maximize sales.
Benefits of Etsy Direct Checkout/Etsy Payments
Etsy Payments offers a secure, trusted payment method for your buyers. You’re also easily able to create Etsy coupon codes easily, providing customers with either free shipping, a percent discount, or a fixed dollar discount. Etsy provides customized, automated product shipping, giving you the ability to ship your products worldwide.
You’re also paid quickly with Etsy Payments. After signing up for Etsy Payments, you have a five-day hold on your funds. After five days, you enter a 90-day period where funds are available three days after making a sale. After this 90-day period, your funds are available for deposit the next business day.
How to Sign Up for Etsy Payments
Signing up for Etsy Payments is easy. Simply log in to your Etsy account, navigate to Shop Manager, click Finances, select Payment Settings, then click on Select Your Bank Account Country. Enter your address and bank account information. Next, for security purposes, you’re asked to verify your personal information. Finally, you need to enter a credit or debit card number.
Depending on your business, you may need to send invoices or accept recurring payments. If this is the case, consider looking into QuickBooks for direct sales. QuickBooks Online can help you get paid faster. Start accepting payments today with QuickBooks.