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Does Your Business Have Enough Payment Methods?

Attracting customers is an art. It requires a smart use of marketing tactics and user interaction to draw in crowds of people. However, advertising alone isn’t going to cut it for your business.

One of the most underrated ways of attracting customers is via services, and one of the services that few companies get right even today is payment methods. Whether you sell shoes or computers, you need multiple payment methods to accommodate not only those in your country but also people around the world.

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It’s an easy way to make your business more profitable. The more local and global payment methods you accept, the more likely a customer will finalise a sale in your establishment. Here are some payment methods you may have missed (or neglect).

Credit Cards

Some businesses haven’t upgraded and still only accept cash in hand. While money is convenient to pay for services and items, it’s not convenient to carry around with you in a wallet. It’s prone to be stolen, it makes your pocket bulge, and it’s not as convenient as just carrying a plastic card.

You can install machines into your business to accept credit cards, but you can also get a card reader app for your phone. As long as you have some method of accepting cards for payment, your business will soar and become more accessible for everyone.

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Image Credit: Pexels

PayPal and Other Online Services

If your business isn’t online yet, then you may want to reconsider your marketing strategy. Even if you run a coffee shop, you can take online orders for customers to collect. It’s a handy way for your customers to plan their day. Perhaps you could set up an online subscription where you prepare a cup of coffee to your customer’s specification, and they collect it at a set time every day. You could even do local deliveries for a coffee shop—the possibilities are endless once you open up your business to the internet.

Keep in mind that many online services take transaction fees and might have operating costs. Be sure to contact the service that you plan to use, and make sure all hidden fees are presented up front.

Local Payment Methods

Make sure you get involved with local payment methods in your area as well. For example, citizens in Hong Kong have access to a smart payment card called “Octopus Card”. It allows them to pay for travel, but also pay for goods such as drinks and newspapers. Check your local area for any payment cards that people use, and set up systems that allow for them to use it.

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Image Credit: Pexels

Contactless Payment Methods

Many credit and debit cards nowadays use contactless technology that allows people to make purchases quickly and easily up to a certain threshold. If you run a busy store where customers get in and out fast, then contactless payment is an absolute must. If your potential customers have to sit and wait in line to buy a drink or a sandwich, then you’re delaying their day, and they may end up not coming to your store anymore.

Costs to install a contactless system depend on what kind of manufacturer and system you use. Make sure to contact your vendor and ask them for a brochure or catalogue of their different systems so you can make your decision.

About John-Shea

Internet Marketing Entrepreneur