It’s a really good idea to make sure that you are accepting as many forms of payment as you can in your business. For one thing, it gives the customer more choice, and that’s always the kind of thing that they appreciate and which boosts your ratings in their eyes. It also helps your business, and particularly by widening out your customer base considerably so that you are much more likely to have a lot of orders coming in. So with that in mind, what are the major kinds of payment you should make sure to accept? Let’s take a look.
Despite the fact that much of the world seems to be heading towards a cashless society, it’s really important that you still offer cash as a way to accept payment. For one thing, not everyone is able to pay in card, and in particular poorer people are more likely to be paid in cash, so that’s the kind of currency they have. It’s also a very useful way of taking payment and one that we should not allow to die out too soon. It’s a more inclusive kind of payment, which is more important than ever.
Of course, the main kind of payment that you will probably find customers use is a card. You need to make sure that you are accepting cards, because if you are not then it can be a real problem, as you are going to be effectively shutting your doors to so many potential customers who would otherwise be happy to pay you for your product or service. Make sure you accept as many cards as possible, but if you are unable to afford the fees involved in, for instance, American Express, then make it clear that you can’t take that.
An increasing number of businesses are trading in cryptocurrencies, and it looks as though this is indeed going to become much more normal as time goes on. It might even get to a place where crypto payments outnumber cash and credit, although that is probably a ways off just yet. However, it’s probably a good time to look into crypto bank accounts for your business and start accepting crypto coins, because more and more customers are going to ask to pay with it. All in all, this is definitely something that is useful to have in place.
Finally, you may as well ensure that you have the technical ability to accept contactless pay through apps like Apple Pay and Google Pay. Generally you just need to have a normal card machine for this to work, so it’s not actually any extra work for you to accept these kinds of payments. Because of that, you may as well do this, and it will mean that a lot more customers can easily purchase your products and services.
As you can see, there are a few main types of payment you should ensure to take, to help you and your business along.