Have you been tracking payments in a spreadsheet or with a manual calculator? Do you want to improve your system? Keep reading to learn about the best technology to help you process business payments.
iPad or Tablet
Having an iPad or some other tablet can help you process payments for your business. You don’t have to rely on using a computer or staying in one spot. Then, you can walk around your store with your customer and help them check out as they shop.
Even if you don’t take customers in-person, using a tablet can help. You can check on your payments and make sure everything goes through. That can be useful if you don’t want to log into your work computer.
If you want to be even more portable, you can use a smartphone instead of a tablet. Smartphones can get many of the same apps, so you can use the same programs.
But you can put your phone in your pocket. That way, you can make and track payments from anywhere, even if you don’t have your tablet with you.
One thing you can use with your iPad or not is a card reader. A card reader is especially important if you want to take payments in person. You can connect your card reader to your tablet and a payment processing app.
Then, you can swipe customer cards to process their payment easily. Whether you want to take full payment or offer something like auto financing, you can do that with a card reader. Then, you don’t need to manually type out a credit card number.
Another awesome way you can use technology to process payments is with PayPal. You can use the app or web browser, and you can set it up to collect payment when people buy from your website. If you have customers in-person, you can also charge them using a business account.
PayPal even lets you send invoices, so you can use it whether you sell products or services. While it does charge a fee for each transaction, it’s worth it. If someone tries to scam you for a refund, PayPal can protect you.
Payment Gateway Software
If you get any sales from your website, it can also help to use a payment gateway other than PayPal. Stripe is an excellent option, and you can set it up to take debit and credit cards. Then, you can connect your Stripe account to your website.
Whenever someone pays with a card, they don’t have to go through a site like PayPal. Not only can that help you process payments, but it can help keep people on your site. Then, you can convince them to join your email list or read your blog.
Counterfeit Bill Detection
While it’s not an app or piece of hardware, counterfeit bill detectors are important for payment processing. If you take cash, you should know how to tell when someone has a fake bill. Of course, you can use your eyes and look at the bill under a light.
However, you can use a counterfeit pen or even a UV light to check to see if the bill is real. Then, you can keep your business from losing money when you make your next deposit. Each of your employees should know how to use the technology to detect counterfeit currency.
Payment processing doesn’t stop when your customer completes their purchase. You should use some sort of accounting program, like QuickBooks, to track your payments. Then, you can see how much you earn each week or month.
If you aren’t on track to hit certain goals, you know to adjust your strategy. But if you’re on track, you can keep doing what you’re doing. Accounting software can be great if you don’t want to hire an accountant to track everything for you, and it can be easy to use.
Running a small business can be hard, and you don’t want to forget about payment processing. Keep these ideas in mind next time you want to use technology to help process payments.