Five payment solutions for entrepreneurs

World Entrepreneurship Day, celebrated this Tuesday, April 16, is a reminder of the innovative spirit and the value of entrepreneurs. Spain leads in the percentage of small businesses in the European Union (99.8%), with an average of 1.7 employees per company according to data from CEPYME. The service sector represents 53.51%, according to the Ministry of Industry, Trade and Tourism, showing a business environment constantly shifting towards digitalization. In this context, entrepreneurs face the challenge of offering secure and flexible payment solutions to meet the needs of their clientele.

At PaynoPain, as a Spanish technological company specialized in the development of online payment tools, we want to share five payment solutions that entrepreneurs should implement to differentiate themselves from their competition:

Payment Solutions for Entrepreneurs

Online Payment Platform

If you have a business and want to sell online, it is essential to hire a payment gateway. When it comes to purchasing products or services online, 7 out of 10 people use cards as their favorite payment method. The second option are wallets like Google Pay or Apple Pay. Therefore, it is indispensable for all businesses that want to sell online to provide their customers with an adaptable, secure, and fast payment platform. Gateways like Paylands guarantee a smooth and intuitive experience for users so that payments can be executed easily from any device.

Tap to Pay

A very useful alternative for freelancers and small businesses that provide home services or are constantly on the move and prefer not to carry a traditional POS terminal. It is an app that turns the mobile phone into a POS terminal and allows receiving card payments easily and conveniently. It is an excellent option for taxi drivers, home repair technicians, delivery persons, as well as traditional shops and restaurants. This solution helps minimize expenses, increase security, and advocate for customer convenience.

Mobile payments

With the increase in smartphone usage, mobile payments have become increasingly popular and are now the second favorite option for customers after cards. Implementing options like Apple Pay, Google Pay, or specific payment applications can provide customers with a quick and secure way to make transactions, eliminating the need to carry cash or physical cards.

Pay by link

Allows entrepreneurs to generate personalized payment links that are sent to customers via text messages, email, 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 smoothly. This solution not only simplifies the purchasing process but also offers the possibility to include promotional messages or additional information to improve communication with the customer and encourage brand loyalty.

Buy now, pay later

Offering flexible financing options can make products or services more accessible to a wider audience, providing personalized payment solutions that adapt to the financial needs of customers. From installment payment plans to interest-free financing options, these alternatives can increase sales and customer satisfaction by allowing them to acquire products or services comfortably and affordably. According to the latest study conducted by PaynoPain, 68% of customers are aware of these benefits and half of them (52%) have used them at least once. So it can be a good option to add to your business’s payment methods.

Need a payment solution for your business?

In conclusion, the five payment solutions we have outlined offer key tools to improve the customer experience and differentiate from the competition. From online payment gateways to flexible financing options, each of these solutions addresses specific needs of the current market. Implementing these solutions not only simplifies the purchasing process but can also contribute to increasing sales and customer loyalty. If you have a business and want to offer payment solutions tailored to the needs of your customers, we are here to help.

If you need more information about any payment solution, do not hesitate to contact us.