Skip to main content

Paper, Plastic, And Payment Methods A New Business Needs To Consider

If you’re looking to start a business and become a mompreneur, your first priorities are likely going to be coming up with a product or service, finding the market that fits it, and branding it. However, there’s one step of the service you should consider a little more closely. How are your customers going to pay for it? Cash is old fashioned and not the preferred way to pay by a growing number of consumers. What options should you start thinking about?

Credit cards
Online, credit cards are the most common form of payment, but they play a huge role in real-life business revenue, as well. 66% of all point-of-sale payments are done with plastic but a huge amount of small businesses still doesn’t allow for it. Picking a processing service with the help of sites like can instantly welcome more revenue in any business. It’s all about finding the right processing service with fees that you can manage and an acceptance of a broader range of cards.

Payment services
The fees and work involved with managing processing systems can sometimes be too much for small businesses to handle, however, and some prefer to handle it indirectly through alternative payment methods. These include PayPal, Amazon Payments, and WePay. However, the problem with many of these services is that they often redirect customers from your site, which can be confusing for them as often they feel like they’re not paying you directly.

Taking checks from customers might sound even more old fashioned and it requires several steps, agreeing to the sale, getting the check, then taking it to the bank and processing it. As states, however, electronic checks have greatly simplified the process for businesses and consumers alike. Checks allow customers to pay conveniently, but they do carry a greater risk of bouncing and fraud which businesses should look out for.

Direct payments aren’t always the most effective for a small business, however. If you’re carrying out a service rather than delivering a product, you might not be able to accept payment until the service is complete. Invoicing is the most commonly used payment method, involving a transfer directly from the client after the invoice has been sent off. One of the larger problems with invoicing, that it takes time and effort from business owners and is prone to mistakes, can be fixed by simplifying the process with tools like, too. Just make sure you have customers sign an agreement to short payment terms so you don’t spend most of your time waiting for the money you’re owed.

Direct debit
If you provide an ongoing service, it might be inconvenient for the customer to keep having to go through the payment process again and again. It adds extra stress for business owners who are waiting for “pay day” to come around and seeing whether or not they’ll get their money. Direct debit allows you to automate recurring payments, making it easier for all parties involved to stay hands off and let the transaction happen. However, businesses often have to prove significant revenues to successfully apply for direct debit services.
The business model and the preferred methods of payment by are your target market should determine which payment methods make the most sense for you. Do your research to help you explore the options above. 


Post a Comment

Popular posts from this blog

Copycat Boston Pizza's Bandera Bread

Have you ever had a craving for something but then once you looked at it you realized, I can make that myself for next to nothing? That's how I felt last night I thought about ordering in some food but then realized I really don't want to spend any money. I really wanted pizza bread from Boston Pizza. So I recreated it and oh my goodness was it ever good. Try some of these great recipes too!  Pizza Bread Dough 1 cup warm water 1 tsp instant yeast 1 tsp sugar 2 cups flour  Seasoning 1 tbsp melted butter 1 tsp garlic powder 1 tsp onion salt 1 tsp parsley 1 tsp rosemary 1 tsp basil 1 tsp oregano 1/2 tsp sugar 1. Combine the water, yeast, and 1 tsp of sugar in the mixing bowl and let stand for 5 minutes. Add the flour and salt and mix until a ball of dough forms. Roll ball onto a floured counter top and knead for a couple minutes.  2. Put dough in an oiled bowl and let rise for 30 mins in a warm place with a clean cloth draped over top. While your doug

Affordable Ways To Make Your Home Look Luxurious

How do they do it? Professional designers seem to pull it off so effortlessly, but how will you make your home look more luxurious? You could just employ a professional or you can personally undertake the task of transforming your home into a place of luxury on a budget. In order to save money on your purchases, be creative and vigilant in your pursuit for the perfect style. Follow our budget-friendly ways for making your home a vision of luxury. Think it through, choose a style Luxury look isn’t enough to go on, so before you start shopping and wasting your money on furniture and decorations you might not even use in the end, first do some research. Go online and do some window shopping and find which style is more to your liking . An elegant Victorian style or something more modern and chic? Don’t get me wrong, you may want to mix and match, but before you commit by buying anything, consider what look you are going for. White is the color of elegance Choosing white as yo

DIY Table Revamp - Guest Post

Hi all! I'm Tiffany from This Motherhood is Brought to You by Xanax and I am so excited to be a part of the Guest Post Swap and to be Amanda's swap partner! I love love love her idea on how to make indoor snowballs with egg cartons. I am definitely going to have to try that with my kiddos since my smallest one has decided that it has to snow for Christmas. Poor baby doesn't know snow is hard to come by in Alabama :( For my guest post I wanted to share a little DIY with you guys that involves duct tape! A few months ago my daughter's little chair that goes with her table she sits at every day tore and she made it worse by pulling all of the stuffing out of the seat! What started out as a quick fix turned into a great idea. She loved her seat so much that she has now decided that her table has look cool too so being the smarty pants that she is, she tore her table!