10 Payment Alternatives to Help Small Businesses Get Paid Faster

One of the numerous ways in which technology has benefitted small businesses has been to increase the number of payment options available.  While  conventional methods of payment like cash and cheque still exist, there are also a variety of other options like debit cards, internet transfers and mobile payments that have greatly facilitated payment infrastructure and made financial management significantly more flexible.  Every business owner must wade through the alternatives and decide what type of payment options are right for their customers.  This is based on several factors including their industry, common practices, location and of course business specific considerations.  For example, a retailer will usually allow for payment by credit and debit cards, cash and possibly some form of mobile payment.  Conversely, a law office may not offer a credit card option, but request payments via cheque or bank transfer.

Some payment alternatives for small businesses to consider are discussed below:

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14 Year End Organization, Financial and Tax Tips to Manage Your Personal Finances

As a chronic procrastinator I tend put all my non “attend to immediately” documents in baskets and boxes resulting in, at year end, a colourful array of documents.  There are letters, bills, invoices, receipts, statements and the occasional delivery menu that did not get filtered out.  The intention is to organize them, on a regular basis, in the near future.  In reality, this usually does not tend to happen until the end of the year.

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