Should I Replace My POS System?
April 28, 2020Payment Processing Deals That Are Lies
May 12, 2020As a merchant when you complete a job you like to get paid for it. We all know that fun doesn’t pay the bills and that warm and fuzzy feeling that you get when completing a job does not keep food on your employee’s tables especially as we deal with the global COVID-19 pandemic. No, getting paid on-time is what every merchant strives for and chances are you are no exception. So, are there some options to speed up when you receive the payment?
Non-Technological Solutions
Without a sort of technological upgrade there are a few things that you can do to speed up payments. One is to simply ask for payment sooner. If a job is completed, ask for the payment upon completion. There is nothing wrong with that, as the job is finished so you should be compensated for that. At the same time keep the invoice that you send to a customer simple and easy to read. Make sure it is clear how much is owed and when it is owed by. With a deadline in place your customer will know when the payment is due by.
Let Technology Help
Of course technology can help as well. It can be used to make receiving payments easier. You can set up a mobile payment solution so that your customer can make a payment using a credit card or another form of electronic payment when the job is completed. If they are able to do that you know that the payment has been accepted and both you and the customer will not need to worry.
Or you could install a payment gateway on your website to allow your customer to make a payment through that. It is convenient for your customer and it is convenient for you as well. You don’t need to worry about losing cash or having a check bounce reducing yours (and your customer’s) risk and the system also handles much of your accounting needs as well. Just make sure best practices for PCI Compliance are followed at all times.
Mobile Payment Solutions
There are a lot of reasons why you should accept some form of mobile payments. Many solutions are cloud based and are secure using encryption technology. It is also more efficient for you and your employees since payments can be made quickly with less paperwork and fewer processes to complete a payment. By reducing the time that the employee spends collecting and completing a payment they can be more efficient with their job and get more done. That means more revenue for your company.
A mobile payment solution can work with pretty much any business, whether you run a delivery company, a lawncare service, an arts and crafts shop or any other one. It is the goal of every business to be more efficient, get paid sooner and generate more revenue. By using a mobile payment solution you can potentially do both and take your business to the next level.