Payment tools that will help your business in times of crisis

payment-tools

The Sabra (Brazilian Service of Support for Micro and Small Companies) conducted a study that shows that 600,000 micro and small companies out of business and 9 million people lost their jobs due to the crisis caused by the pandemic COVID-19.

We know that several businesses had to close their doors to help contain the spread of the virus, as determined by the government. Restaurants, for example, are only able to function in the delivery system, gyms are closed and classes are available via social networks.

However, many companies didn’t have the cash to go through all of this, nor were they able to sustain sales of their products or services on an online model.

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But, also, there are those who are reinventing themselves and finding a way to keep working. Many businesses are reshaping the way they sell. Thinking of new ways to offer them online, delivery and payment logistics.

Therefore, we have listed some payment tools that will help your company in this moment of crisis. Keep following the text to find out what they are!

Payment tools that will help your business

There are several payment tools that can help you need to sell. Complete platforms to manage your company’s receivables, issue invoices, bills, issue reports, anti-fraud and much more.

Today, we’ve listed 4 essential tools to succeed in sales.

1. Payment Gateway

The name seems a bit complicated, especially for someone starting to sell online now. But a payment gateway is essential for you to be able to make your sales securely on the internet.

In digital sales, you won’t have the famous little machine. Therefore, you need a gateway to communicate between your store and operators (such as Cello, Reed, Stone and others).

This is nothing more than the path that payment information takes to know if that purchase was approved or refused, if it is a fraud or not, if the buyer has enough balance. All this, in a few seconds, and in a secure way.

By using a gateway, you can choose which operator you want to perform each charge on, the multi-acquiring call, a great option for those living in the rate war. You have more security against fraud in your business and many other benefits.

2. Payment Checkout

The checkout page is one of the most responsible for the success of completed sales. But, for this, the customer needs to feel safe to put their personal and payment data there. Otherwise it will abandon the cart and you will lose the sale.

Therefore, it is important to have a personalized payment checkout. No transferring your consumer to another domain or another page.

Follow some tips to customize the page, such as putting your company logo and adding security seals that your store has, such as an anti-fraud, for example.

Have a safe environment and convey this to your customer. Remember to only ask for essential data, bureaucracy is also an enemy when closing a sale.

3. Billing retry

Every company has a default rate. It happens that companies prioritize other more urgent expenses or even delay payment for the product or service.

To resolve this, we recommend using a tool called billing retry. As the name implies, it makes other attempts, on different days, for that payment to be made.

The chances of success are very high and it avoids the wear and tear of calling the customer to charge. A very boring situation for the company and for the consumer, not to mention the waste of time your team would have to do this whole process manually, right?

4. Payment Link

This tool is the differential for big businesses and can become the small one’s salvation.

Right now, we know that many entrepreneurs don’t have the time or money for great solutions. But, they need to keep selling.

Nothing better than the power of social networks, such as Facebook, Integra and Whastapp, to promote products and services. But, how to charge through these channels?

With a simple payment link, a tool that can be sent by email, SMS or chat, which is totally secure, the consumer enters the payment data referring to his purchase.

A small online machine, but without borders and with the advantage of being a multi-buyer. That is, you can choose which operator you want the charge to be made. In addition to accepting any banner, it is a great advantage to be able to increase your consumer network and your conversion rates.

The payment link can be used by any segment, be it B2B or B2C. Many consultancies end up using the link to charge their clients. Saabs companies, that is, that offer access to a software, are also very adept at using this type of tool to charge their customers. Just send an email to the company’s finance company with the link and the charge is made.

A simple, safe tool that makes life easier for both the seller and the consumer.

Payment link is the most sought after alternative

When performing a quick search on Google’s tool, Google Trends, we noticed that the search for payment link has grown a lot in the last few months. 

Entrepreneurs are looking for effective alternatives to overcome the crisis. And they want to offer a new way of payment that is simple, secure and fast. Since people are avoiding leaving the house and having physical contact with small machines, for example.

payment-link

Google Trends Chart – Payment Link Search over the last 5 years

The benefits of the payment link are numerous. As mentioned above, the small and the big business can use it both for the sale of products and for the sale of services.

It is possible to make sales nationwide and charge using the payment link, via Whastapp, email, social networks or SMS.

See examples of how to use the payment link

For those who think that the link is only useful for B2C, you are wrong! Some advertising agencies and consultants use the tool to bill their clients, as it is possible to issue the invoice through the integrated platform.

Other examples are companies that offer plans and monthly fees. We can include Saabs as a CRM or marketing management tool in this niche. These businesses can also use the payment link for billing.

These segments mentioned above still have a great advantage: their sales model is recurrent. This means that, in addition to being able to facilitate billing with the payment link, they are also able to have greater cash predictability, since their sales are carried out constantly.

It is an easier and more practical way to reach your consumer, as there is no physical barrier. And, we can say that, at the moment, even safer, as it avoids physical contact.

Even here at Vinci, we have over 6,000 customers and we use the payment link to bill these companies.

One more benefit of the payment link is the reduction of bad debt. A study done on the basis of Vinci, shows that using the payment link as a form of collection, companies managed to reduce 70% default rates. A pretty high number, isn’t it?

Another advantage of using the link is the payment options: you can charge via credit card or bank slip, making your customer even more flexible when paying.

What can we learn from payment tools?

Finally, we noticed how an online strategy, especially in relation to payment tools, can and is saving business in the midst of the crisis.

And that not everything is complicated for those starting out. We saw that features such as the payment link are simple, but very effective for small, medium and large companies.

We know this is a very difficult time, but there are alternatives to save and boost your company’s sales and we are here to help you!