Many small businesses take payments from their customers via bank transfer after sending an invoice. There’s nothing wrong with this, but if you prefer to get paid quickly it may not be the best option – it’s easy for customers to forget, or wait until the last moment to settle the bill. Did you know it’s now easier than ever to take card payments in person? This can be especially useful for traders and service-based businesses like personal trainers, cleaners and builders.
How to take card payments in person
Business bank accounts are slowly catching up with technology and Tide is one of those which is leading the way. Amongst other benefits, they’re offering a card reader to take on-site payments with their latest business account. This post isn’t sponsored by Tide, by the way, we just think they’re one of the best options out there right now.
What’s the best way to take payments from customers?
Having a card reader to take payments directly from customers offers tons of benefits, particularly for small businesses and sole traders. Clearly the main advantage is convenience. Taking payment via credit or debit card is way faster and safer for customers. They no longer need to fiddle about on their banking app entering your details and the amount, authorising the transaction and double checking it. The convenience of doing away with all that is bound to leave customers more satisfied.
How your business could benefit from a card reader
Another major benefit, which applies particularly to businesses which sell goods, is increased sales opportunities. By accepting card payments, you are more likely to capture impulse buys. Did you know studies show that customers tend to spend more when using cards? If you take the chance to offer your customers some recommended cleaning products or a piece of exercise equipment when your time together is coming to a close, you may get an extra sale if they’re feeling good about your work.
More secure, for everyone
A card reader also helps with security and eliminates the chance of human error when paying invoices. Card transactions offer secure encrypted payments that reduce the risk of fraud or loss. You also get to check the amount together before payment is made, saving the hassle of refunding overpayments or chasing up underpayments. Additionally, having a digital record of transactions simplifies accounting and tax reporting – and no one wants to spend any more time than they need to dealing with that.
Portable and wireless
Your card reader will be portable and wireless, so you can accept payments anywhere—whether in a physical store, in a customer’s home or at a business premises. This flexibility can expand the range of places where you can do business, which just makes life a bit easier for everyone.
You can do more
Card readers also tend to play well with other digital tools, like invoicing and inventory systems, which can help streamline your record-keeping and data collection. You’ll have a clearer idea of cash flow and spend less time chasing invoices.
How to get a card reader to take payments in person
Sounds pretty good right? Card readers enhance convenience, boost sales, improve security, and streamline the process of getting paid, making them a smart investment for any business.
Click here to check out Tide, our recommended business account for those who would like to take card payments in person.
