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How to run a business without cash

How to run a business without cash

Contactless payment is only the beginning of a new way to make money.

Money has long been king, but times are changing. Due to technological advances and concerns about handling banknotes and coins, the movement towards digital payments is accelerating. Consumers want comfort and business owners want healthy change, while everyone wants to stay safe.

Therefore, moving your business toward cashless arrangements makes more and more sense. It’s also quite easy to achieve thanks to many payment processing products and services which aim at offering overall simplicity. Choose the right cashless business model and you and your customers will be able to enjoy all the benefits it brings.

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Become virtual

Small business owners have a number of options that they can use, which can facilitate payments from customers who attend and have the cards they want to pay. But there are also options available when customers might place an order on the phone, or by using your e-commerce website.

If you are a small business owner who hopes to regularly deal with customers who want to give you their payment details by telephone, or send you a mail order, then a virtual terminal is an option. Having this hardware at your disposal means that you can still process transactions, even when the customer is not there directly.

Cost factor

Obviously one of the best ways to eliminate the need for physical cash and reduce the level of germs that exists is to offer contactless payments. Regular card terminals are very well known because they are far from hygienic because of the number of people handling them from time to time.

Although you can be diligent in cleaning your PIN pad, the card machine is basically, very dirty. Contactless cards, which are increasingly being owned by consumers, are far better because Short Range Wireless Communication (NFC) technology eliminates the physical contact needed to process payments.

Cellphone wallet

Staying with the contactless theme, variations in the way payments are made through digital wallets. Now that most customers own smartphones, there is a surge in popularity of digital wallets, which include people like Apple Pay, Google Pay and Samsung Pay. Once again, this uses NFC technology to process transactions through your cellphone.

In general, if you will manage to accept payments without contact via card, then it is more likely to expand this capacity by including a digital wallet as described by our guide.


E-commerce website

Putting together your own e-commerce website makes perfect sense if you are in the business of selling anything. While some websites can be used solely as a profile building exercise, others can be used to sell your products and services. There are many choices if you want to use a website building service, which does not need to know much about web design.

However, if you want to sell then make sure that every package you choose can handle online buyers, with all payment options that come with such functionality. The good news is that many of the site creation tools out there already have provisions for this. Some events allow you to increase your business on demand.


Payment link

If you want to add convenience to your e-commerce experience and tend to sell products rather than services, it’s a good idea to consider having a payment button on your website. In essence, this is a payment link that can be triggered when a customer clicks or taps on it, either through a desktop experience or when using their mobile device.

The payment link is very good because it is the best choice that usually does not require you to have the skills to build a major e-commerce website. The functionality of the payment button or link tends to vary depending on which provider you use to implement it. But it is necessary to research the products and services in our payment link guide to see which provides the functionality you are looking for.
Social media

Also look for more opportunities to trade online using social media from Facebook and Google. Facebook’s business page, for example, offers a list of products and services. Google, meanwhile, is really trying to help small business owners with recent initiatives to help them get their products more efficiently listed on Google Shopping.

There is even a Buy option at Google’s checkout facility and many more conveniences offered by giant search in an effort to increase many small business owners behind the coronavirus pandemic.

Pilots are already run in the US, so hopefully we can all hope to improve trading conditions in the near future. Better yet, unlike days gone by, we all need to be able to make money without touching it.

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