Sunday, 22 July 2018

Information and commentary for the small business banking industry

Why mobile payment options are critical for small business owners

23 Oct

It’s likely that, among the payment options you can offer your small business customers, you have a mobile option available. And this is as it should be, because people are using their smartphones for everything these days, including as a wallet. That’s why it’s so important to encourage your small business customers, especially those who are service-based, to make use of the mobile payment option.

It means that their customers can pay them on the spot. People like to do this for a job well done, so businesses that run gardening, cleaning and painting services would find them particularly useful. Not only does it save the hassle of having to create an invoice, send it out, wait for the check and (in some cases) chase up late payers, but it means that their customers can just pay and go, which most of them prefer to do. Writing checks and waiting on invoices can be as much of a hassle for customers as well as business owners.

So make sure that your small business customers are making the best use of the payment services your bank offers by encouraging them to add the mobile option to their ‘ways to pay’. Let’s face it – everyone should be moving with the times!

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