In today’s digital age, small businesses and SMEs are constantly looking for ways to streamline their operations and make transactions more convenient for their customers. One crucial aspect of running a successful business is being able to accept payments from customers in a fast and secure manner. With the rise of cashless transactions and the increasing use of smartphones, it is essential for small businesses to keep up with the changing landscape of payment methods. In this article, we will explore various ways in which small businesses can take payments, the best handheld devices for the self-employed, payment apps, and the cheapest card readers available in the market.
One of the most popular ways for small businesses to accept payments is through credit and debit cards. With the majority of customers preferring to pay with their cards, it is crucial for businesses to have a reliable and efficient card payment system in place. The good news is that there are now numerous options available for small businesses to choose from, depending on their specific needs and budget.
One option is to set up a traditional card terminal, also known as a PDQ machine, which allows customers to swipe or insert their cards and enter their PIN to make a payment. This is a popular choice for businesses that have a physical store or a brick-and-mortar presence. However, these machines can be quite expensive and often come with long-term contracts and hidden fees.
For small businesses that operate on-the-go, such as food trucks or market stalls, a handheld card reader would be a more suitable option. These compact devices can connect to a smartphone or tablet via Bluetooth and allow businesses to take payments on the spot. They are also more affordable than traditional card terminals and do not require a long-term contract.
When it comes to handheld card readers, there are several options available in the market. One of the best handheld devices for the self-employed is the Square Reader. This device is compact, easy to use, and has no monthly fees or contracts. It also offers a range of features such as inventory management and sales analytics, making it a great choice for small businesses.
Another popular option is the iZettle card reader, which offers similar features to the Square Reader but also allows businesses to accept contactless payments. It also has a sleek design and comes with a free app that allows businesses to track their sales and manage their inventory.
Apart from traditional card payments, businesses can also consider accepting payments through mobile payment apps such as PayPal, Venmo, and Cash App. These apps have become increasingly popular, especially among younger customers, and offer a convenient way for businesses to accept payments. They also come with features such as invoicing and payment tracking, making it easier for businesses to manage their finances.
For businesses that have a website or an online store, it is essential to have a secure and reliable online payment system in place. This can be achieved through payment gateways such as Stripe, PayPal, and Square. These gateways allow businesses to accept payments from customers all over the world and offer a range of features such as fraud protection and recurring billing.
Now that we have explored the various ways in which small businesses can take payments, let’s take a look at the cheapest card readers available in the market. As mentioned earlier, traditional card terminals can be quite expensive, with monthly fees and long-term contracts. However, there are now several affordable options available for businesses on a tight budget.
One of the cheapest card readers available is the SumUp Air, which offers a low transaction fee and no monthly fees or contracts. It also has a simple and user-friendly interface, making it a great choice for businesses that are just starting out.
Another affordable option is the PayPal Here card reader, which has no monthly fees and offers a competitive transaction fee. It also comes with a free app that allows businesses to track their sales and manage their inventory.
In conclusion, accepting payments is an essential aspect of running a successful small business. With the rise of cashless transactions and the increasing use of smartphones, it is crucial for businesses to keep up with the changing landscape of payment methods. By exploring different options and finding the best fit for their specific needs and budget, small businesses can ensure a seamless and convenient payment experience for their customers. So, don’t wait any longer, start exploring the various payment options available and take your business to new heights!