Control Cash Flow and Stay Safe with Online Payment Options
If 2020 taught us anything, it’s that flexibility and adaptability are paramount in the running and success of any business. With the specific challenges that came hand-in-hand with the pandemic and subsequent restrictions, it was anything BUT business as usual for most industries. From retail establishments to the food and beverage industry to professional services providers, thriving in 2020 required nimbleness and an ability to adapt business practices to ensure security and meet clients at their comfort level.
While 2021 will hopefully bring a gradual return to “business as usual,” the reality is that many businesses will continue to operate on a full or partial remote basis. As such, the flexibility and adaptability that came to drive success for companies in 2020 will continue through much of this year.
Fortunately, payment technology has already been setting the stage for the type of safety and flexibility that these uncertain times have demanded in the form of contactless payments and integrations. When talking about “contactless payments,” there are actually a host of payment options that allow for simple and secure payments to take place without the need for close contact, or even an in-person meeting. Software integrations that include online payments features, will create even more efficiencies for remote professionals. Payment technologies worth embracing in 2021 include:
NFC, or near-field communication, is a technology that allows devices located in physical proximity with each other, like a Bluetooth card reader or mounted payment terminal. Common examples include solutions like Apple Pay, Android Pay, or NFC-enabled payment cards. It’s likely that as more in-person establishments open their doors or increase their services in 2021, payment options like NFC will rise in popularity for physical establishments as it allows for a secure payment option without physical contact between provider and customer.
Online payment pages
Another option for businesses and customers who might not want to deal with in person payments at all is a secure online payment page. With an online payment page, clients and customers can enter their payment information into a secure online portal and pay their service provider from anywhere on any internet-enabled device.
Recurring billing solutions
For situations where a retailer or service provider might be accepting ongoing payments from a client/customer, setting up recurring billing profiles, or payment plans, provide a safe and extremely efficient option. Businesses and their clients can establish a plan for frequency of payments and transaction amounts, and then payments will run automatically. This helps businesses create predictable cash flow.
Payment technologists will undoubtedly continue to push payment options forward, creating more and more payment options that match with the ways today’s businesses operate. For the immediate future, this looks like maximizing contactless payment options, and continuing to adapt to whatever the future might send their way.