The necessity of flexible Payment Option In Your Business
Over time, the world and everything in it has evolved, our businesses should not be left out as well. Ever wonder why you keep having low sales turn up when you have what people can buy?. At some point we might think we aren't meant to do such business, but the reality of this is always glaring that we have been neglecting one of the core tenets of business operation.
We need to have multiple payment option in our businesses because technology has taken over and we are not into ancient trade by barter anymore. We live in a world where almost everything is being handled by technology, so denying your business this beautiful world will be sending doom signals to both your business and yourself.
Some businesses die because of debt, when. You fail to adopt convenient payment options in your business, customers will be left with no other option than to owe you till they are able to pay you with your preferred payment option, and when this happens you will be short of capital to make replacement on goods you're out of stock and you know the repercussions of this.
Every business that limits itself to one payment option is at the verge of being thrown out of the market. A lot of competition has been going on in the business world and when you fail to evolve with the trend, you are already packing your loads to leave the market to others who can strive to stay.
Payment Options To Adopt
As a business owner, you need to adopt these payments options inorder to keep your business afloat the market;
• Bank Transfer: This involves wiring funds from one account to the other. This is one of the most smoothest way of sending money. This is usually done using USSD code or bank applications.
Point Of Sales: The use of Point of sales has now become a globally accepted means of payment, the transaction rate here is between 89-95% success rate. Most times, customers do prefer using their debit card to pay instead of using cash. Endeavour to get one for yourself
Cryptocurrency: We love in a world where Cryptocurrency is taking over, to keep up with this terrain, you have to create atleast a trust wallet account and get to receive payment through crypto, but then make sure you receive your payment for the value of your goods. At some point, the added advantage crypto has over other payment options is; you might be lucky to receive a particular crypto let's say Steem when it is going up the chart scale, you might end more, but one has to be careful with it so you don't loose your money.
Gift cards: The introduction of gift cards such as Amazon, ebay and others has help foster alot of businesses. Some top business owners get to trade their business cards at a very high rate, higher than the amount they were being paid, this is the beautiful of flexible payment
Cash: As widely known, the use of cash is very important in businesses as it helps cater for daily expenses of the business. In as much as we want to adopt other means of payment channels, cash still tops the chart