Payment Gateways, Halloween Style
In the spirit of Halloween in the past week, there has been some scary stuff out there. You have a lot of clowns, a lot of zombies and a lot of grim reapers. Halloween is a fun day where scary comes out to play, but there are some scary stuff out there, that we would like to avoid, even among the Halloween celebrations.
Scary thing 1: Not having regular cash flow
The thing that keeps every business running is regular cash flow, and overall revenue. So it is a pretty scary thought when you think about not having one. Payment gateways are a great way to ensure that you cash flow is coming in at regular intervals and when it should. It’ll not only help you keep track of how your business is going, but will continue to motivate you to keep up the good work. It’s always great to see the rewards of your hard work.
Scary thing 2: Failed Payments
Bad news first: unfortunately, with payment gateways, there is a chance that some payments may fail for whatever reason. And the good news? Some payment gateways such as Ezypay go above and beyond to ensure that all outstanding payments are collected. Ezypay’s amazingly high collection rate of 99.5% is as close to a guaranteed payments are you are ever going to get, so you can keep this fear aside. Payment gateways should also send you notifications notifying you of the failed payment, as well as the customer, outlining the reason why.
Scary thing 3: Limited flexibility
Businesses operate differently, have different models, preferences and needs. This is why it is a spooky thought that some payment gateways don’t offer flexibility in their direct debit billing system. Luckily, a system like Ezypay offers a variety of tools that are tailored to suit your business needs and preferences. We offer every day billing, so you are welcome to choose what payday you want! Payment gateways should also accept all payment types to make your life easier. At Ezypay, we collect payments from bank accounts, credit cards, building society, and even online payments.
Scary thing 4: Not knowing what is happening with your account
While payment gateways are in charge of collecting your recurring payments, at the end of the day, it is your business so you need to always be in the loop with what is happening with your account. It’s a scary thought, isn’t it, when you think about being in the dark when it comes to your business and cash flow. This is why payment gateways should send you notification and real time reports to always keep you updated. You will always be able to know your exact financial position, and be aware of anything important that happens in your account.
Scary thing 5: Risk and fraud
Now here is the scariest thought of all! Direct debit and other online payment collection tools can sometimes open the risk of fraud and other nasty things, but payment gateways use the latest technology to help protect your account. Adhering to payment compliance practices, dealing with a safe and secure payment system all contribute to maintaining the security of customer data.
Halloween is can be a pretty fun celebration. It’s a time where you can dress up and embody your worst fears. It’s a time where scaring people is not only a laugh, but expected. But as you can see from scary thing 1-5, some spooky thoughts are better left to rest because there is no reason for them. They just aren’t real.
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Are you scared that your cash flow isn’t as good as it should be? Don’t worry, we have the solution for you right here.