Last week, many businesses across Australia were impacted by connectivity issues with their EFTPOS terminals resulting in customers simply walking away because there was no other digital alternative to pay for their goods and services.
Paying merchant fees might seem like the simple cost of doing business, but the recent surge in eCommerce means it is an area where businesses can save a significant amount of money.
Point of sale (POS) systems are an excellent tool for taking and managing payments in your business. Payment features, however, are just the basics of a POS system.
A Point of Sale (POS) system is the software used to make sales and take payments for goods and services within a business. While a POS system’s role is to facilitate financial transactions, the latest fintech innovations have revolutionised POS systems to manage multiple aspects of business.
No matter what your professional background is, you likely know how popular digital transformation has become over the last two decades. Starting with the internet changing how information is gathered and shared, through to today’s technologies that enable you to digitise your business.
If 2020 has taught business owners anything, it is the importance of being agile and resilient. For most businesses, the past year was a whirlwind of adapting and pivoting, such as introducing working from home arrangements and fast tracking eCommerce.
COVID-19 and the resulting decline in business activity has made it necessary for businesses to provide safe, fast and easy payment options for customers.
A payment platform that lets customers settle multiple invoices in one transaction could be a ‘game changer’ for ending late payments.
Australian business software developers have created SpendaCollect, which allows customers to track, group and batch-pay all of their outstanding invoices simultaneously.
When you own a service business, a lot of time and energy is focused on booking, tracking and closing jobs, often using a manual system. While this may be what your team is used to, legacy manual systems leave more room for human error and result in inefficiencies.
The New Year is the ideal time to reflect on past achievements and challenges and set goals for the coming year. For most Australian businesses, 2020 was a year to pivot, introduce remote working arrangements and fast track eCommerce.
Today, cash flow is the leading cause of business failure. In fact, 30 per cent of businesses say they only have enough cash flow to survive for three months or less.
Revolutionary fintech functionalities are a ‘game-changer’ for retail and business-to-business transactions. COVID-19 has propelled the move to eCommerce into hyperdrive and app developers have risen to the occasion, providing business owners with effective tools to streamline their payment process.
Digital transformation has been key a focus for businesses in recent years, but particularly in 2020 due to the impacts of the COVID-19 pandemic.
The lie by a pizza worker, that sent Adelaide into a strict lockdown last week, could potentially have been avoided if contact tracers had easy access to financial transactions at COVID-19 hotspots.
Selling online is an excellent way to grow your business as it allows customers to access your store 24/7.
Long queues at the Christmas and Boxing Day sales could be a thing of the past as businesses adopt mobile checkouts to help keep customers safe from the spread of COVID-19.
In a product-based business, having an effective stock management system is critical, especially in the lead up to the busy Christmas trading period.
In recent years, business to consumer (B2C) buy-now, pay-later providers have skyrocketed in popularity as more payment options come to market.
When we think of processing payments, it typically takes place when certain milestones are reached between your business and the customer.
Business is inherently about two things — people and numbers.
When you run a business, turning a profit is often a key focus as a business gets off the ground and continues to grow.
For many businesses, 2020 has been the year that has forced them to innovate and implement digital technologies in their business systems and operations.
Making sure you get paid on time is critical to your business’s cash flow.
Owning a business comes with many benefits. You get to decide the direction your business goes, steering in one direction to realise your vision, or another if you decide to change course.
Late payments have become so ingrained in Australian business culture that small to medium-sized businesses (SMEs) seem to accept them as a permanent challenge of the job.
While the effects of COVID-19 has seen many small to medium-sized businesses (SMEs) fall into unprecedented times, e-commerce has been a welcomed safety net for many.
There’s a reason why cash flow contains the word ‘flow.’ The way it travels in and out of your business is the very thing that keeps it thriving.
No business owner or employee enjoys telling customers their preferred payment method is not accepted in store. Or even worse, that a surcharge will be added.
It’s estimated that 82% of retailers close down due to poor cash flow.
How many times did you or your customers pay for a product with cash in the last six months?
When it comes to being a business owner, you’re either old school and run it with pen, paper and logbooks, or you have switched to digital technologies where your business data is automated and looking back at you from behind a screen.
We’ve already invented 3D printing, spray-on skin and self-driving cars, so you would expect we can seamlessly send and pay off invoices without errors in an instant, right?
Merchant Fees. They’re as annoying as they are confusing. Many business owners don’t know enough about how they work or what they are paying for, let alone the breakdown of costs behind each transaction.
Developing a loyal customer base of repeat shoppers gives your business resilience to weather economic cycles and periods of uncertainty.
Thankfully here in Australia, we’re handling the COVID-19 pandemic incredibly well and there is now a visible sign of the light at the end of the restriction tunnel, with a planned restoration of all businesses opening by July.
Eat. Play. Love.
There’s no doubt pets have been a group of unsung heroes while we’ve been working from home to help flatten the Covid-19 curve.
There are two ways to build a profitable business, increase sales or decrease costs.
SpendaPOS and SpendaPay are now fully integrated with the Ingenico Move 5000 EFTPOS device to deliver an incredibly fast and secure checkout experience.
Working in a retail or supplier business can be stressful even at the best of times, let alone with an unstable economy and global pandemic upon us.
We may be socially isolating ourselves from one another, but the community spirit is alive and well.
Yes, Covid-19 has made our world uneasy and full of unprecedented challenges, especially for Australian businesses who are wondering what the future holds.
Over the last few years, Business to Business (B2B) and Business to Consumer (B2C) efficiency, revenue and customer engagement has differed enormously.
The introduction of Point Of Sale (POS) systems revolutionised how people conducted business.
As technology evolved, cash payments and registers rapidly diminished as shoppers were gifted more payment options than ever before.
The business that soars in 2020 will ditch omni-channel retail and embrace the single platform of unified commerce.
For all retail, supplier or wholesale businesses, there are plenty of ways you can take advantage of the days prior to and including V-Day.
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