Tradesmen: make payments easier for your customersSmall Business Advice 21 March 2011
Making it easier for your customers to pay will reflect well on your business with the service that you offer, it will also help your business to run more efficiently.
Debit and credit cards
Debit cards are now the preferred method for payment in the UK. In fact over the last ten years debit card usage has risen at four times the rate of overall spending. The main reason for this is that paying by debit cards is easy, safe and secure.
Not only does card acceptance make your business appear more professional but will ensure that all transactions are transferred in a timely fashion. In the past, it has been common for tradesmen in particular plumbers, washing machine engineers, heating engineers and electricians to issue an invoice or bill which is then paid at a later date. If you offer your customer the option to pay by card the bill can be paid immediately and hassle-free. You can leave that client with the peace of mind that all payments have been settled.
Another option for your customer is to pay you with their credit card. This is perfect for those customers who want to spread their payments over a longer period of time whilst you are still paid the full balance and on time. Now that the banks are phasing out cheques and no longer issuing cheque guarantee cards, this is a much more secure and reliable method of payment.
The mobile card terminal
As the majority of tradesmen are based on the road a mobile card terminal will be the most suitable option for this kind of business. These terminals will allow you to take payments anywhere in the UK. they work off mobile broadband connection so they are quick and reliable.
How do you get your payments?
Once the customer enters their personal details the payment is transferred into your business bank account. Your payment provider will charge a small fee for this service, either a percentage of the transaction or a flat rate, depending on the type of card your customer chooses to use.
Accepting cards is a cost-effective way to improve the way you accept payments. Payments by card will ensure that your services are paid for securely, but also on time. The fees associated with this service are minimal when you consider this effective and efficient process.