Six payment solutions for entrepreneurs

World Entrepreneurship Day, celebrated on April 16th, is a reminder of the innovative spirit and the value of entrepreneurs. In Spain, this message carries even more weight, as the country leads in the percentage of small businesses in the European Union (99.8%), with an average of 1.7 workers per company according to data from the Spanish Confederation of Small and Medium Enterprises (CEPYME).

Additionally, the services sector represents around 70% of GDP, according to the Ministry of Industry, Commerce, and Tourism, showing a business environment in constant change towards digitalisation. In this context, entrepreneurs face the challenge of offering secure, agile, and flexible payment solutions to meet the needs of their customers.

Quick and easy payments for your business

Flexible payment solutions

At PaynoPain, as a payment solutions provider, we will explain in detail six flexible payment solutions every entrepreneur should consider to manage their payments more efficiently and adapt to the needs of their business:

1. Online payment gateways: integrated payments on your online store

Online POS for secure sales

If you have a business and want to start selling online, it is essential to have a payment gateway that suits your needs. When purchasing products or services online, 7 out of 10 people prefer using a credit or debit card as their payment method, followed by digital wallets such as Google Pay, Apple Pay, or PayPal.

Considering this, it is crucial for any business planning to sell online to have a secure, fast platform that supports the preferred payment methods of users. This ensures your customers have a satisfying shopping experience and will return in the future.

Our Paylands payment gateway guarantees a fast and intuitive shopping experience, allowing users to complete their payments easily from any device. Moreover, it offers a wide variety of payment methods, ensuring your customers can choose their preferred option and complete their purchase quickly and without hassle.

2. Physical POS: quick and secure payments in person

Accept contactless payments, digital wallets, and more

Physical POS terminals are an ideal option for businesses wanting to offer a fast, comfortable, and error-free payment experience. They ensure efficient payment management in person, reducing waiting times and improving the experience for both customers and vendors.

Their versatility allows for the acceptance of various payment methods (cards, digital wallets, contactless), and they are a secure option that inspires trust in customers, as they are accustomed to using them in their daily lives. They also eliminate the need to handle cash, reducing human error.

3. Tap to Pay: turn your mobile into a POS terminal

The most convenient and cost-effective payment solution

Tap to Pay is an app that allows you to accept payments with your mobile phone, without needing a traditional POS terminal. It is a very convenient and cost-effective option compared to physical POS systems, as all you need is your mobile phone to start accepting payments, and it requires a much lower initial investment.

It is an excellent choice for freelancers and small businesses offering home services or those without a fixed workplace, such as taxi drivers, home repair technicians, delivery drivers, or even traditional stores and restaurants.

The Tap to Pay app is a flexible payment solution that replaces traditional POS systems, allowing businesses to reduce costs, improve payment security, and eliminate the need for cash handling.

4. Payment links: charge without a website

A simple payment solution for online payments

Payment links, or Pay by Link, allow entrepreneurs to create personalised payment links that are sent to customers via text messages, emails, or social media. Customers simply click on the link and are redirected to a secure payment page where they can complete the transaction quickly and easily.

This payment solution allows businesses to accept payments without needing a website and simplifies the purchasing process while offering the possibility to include promotional messages or additional information to improve communication with the customer and encourage brand loyalty.

5. Subscription payments: easy management of recurring payments

Payments tailored to the needs of your business

For businesses based on subscription or periodic payments, having a recurring payment gateway is essential for simplifying transaction management.

This payment solution allows you to customise payments according to your needs, whether periodic payments, pay-per-use, special promotions, trial periods, or even invoice management. For example, an online gym can automate the collection of its monthly memberships, offer a free week to new users, or apply discounts on plans, making revenue management easier without the need for constant intervention.

This versatility allows you to manage your payments more easily and adapt them to the needs of both your customers and your business.

6. Deferred payments: flexibility for your customers

The best option for high-value purchases

Offering flexible financing options makes your products or services more accessible, adapting to each customer’s financial situation with personalised payment solutions.

One of the main advantages of deferred payments is their flexibility, as they adjust to the customer’s purchasing power. This means that even if the customer does not have enough money at the moment, they can still make the purchase comfortably and affordably. By offering this alternative, you not only increase the average payment ticket but also improve customer satisfaction, which in turn boosts your income.

According to the latest payment methods study we conducted at PaynoPain, 33% of users have used deferred payments at some point, and another 33% use financing methods based on their current financial capacity. With this in mind, incorporating this option into your business payment methods can be very useful, especially if you offer high-value products or services.

Payment solutions comparison for entrepreneurs

Payment solutions: advantages and recommendations

Payment solution	Description	Advantages	Ideal for	Practical example
Online payment gateways (POS)	Online platform to accept multiple payment methods.	Security, speed, and integration with multiple methods.	Anyone wanting to sell online. Ecommerce, online stores, freelancers.	An online course business needs multiple payment methods for its website.
Physical POS	Physical terminals to accept contactless payments, card payments in-person.	Flexibility in payment methods, quick payments, no errors.	Physical businesses such as local stores, high-volume payment businesses like café chains.	A restaurant accepts card and mobile payments to reduce queues and improve service.
Tap to Pay	An app to turn a mobile phone into a POS terminal.	More cost-effective, no need for a physical POS terminal. Easy to use, portable.	Small businesses, freelancers, professionals without a fixed location, restaurants, delivery drivers, home repair services.	An electrician works in various locations, collects payments directly and prefers not to rely on cash or carry a traditional POS.
Payment links	Generate a personalised payment link to send to customers via Whatsapp, SMS, email, or social media.	No website needed. Easy to use and quick.	Small businesses, freelancers, businesses without an online store. For example, stores that only sell on social media.	A graphic designer sells logos on Instagram and uses payment links to charge clients.
Subscription payments	Manage recurring payments tailored to the business needs.	Payments customised for different models (periodic payments, pay-per-use, promotions).	Businesses with subscription or periodic payment models, such as gyms or language schools.	A tutoring academy charges students automatically each month via a subscription model.
Deferred payments	Offer financing and instalment payments.	Increases sales, accessibility for customers with less liquidity.	Businesses with high-ticket products, such as furniture stores or travel agencies.	An appliance store offers financing options for its products through deferred payments.

Grow your business with innovative payment solutions

Adapt to new trends and improve the customer experience

Payment solutions have evolved to meet the new market trends and customer needs. From online payment gateways, physical POS terminals to subscription payments or payment links, each of the payment solutions we’ve outlined addresses specific needs.

Implementing these solutions not only simplifies the purchasing process but can also help increase sales and customer loyalty.

Need a customised payment solution for your business?

Tailor-made payments: Online POS, Tap to Pay, Pay by Link, and more

If you have a business and would like to offer payment solutions tailored to your customers’ needs, we are here to help. Fill out the form below, and one of our payment experts will contact you for personalised advice.