Benefits of Accepting Digital Payments

Less cash means more business. That’s why when you empower your customers with more ways to pay digitally, you empower your business with increased sales.

1. Key Challenges Traders Face

Competition with bigger and better organized players

Failing to facilitate payment by card where business opportunity is lost

Growing incidents of cash being stolen

Time and effort to tally income daily

Safety of store and guarding against theft

2. Increased Sales

Debit/ATM cards, credit cards, and wallets allow consumers to pay digitally and, in some cases, directly from their bank accounts

Reduced dependency on amount available in bank account when using credit card

Incentives offered for consumers (i.e. cashbacks and reward points)

Foreign travelvers can also buy from your shop

No stress of handling counterfeit/fake notes

3. Why Move Toward Less Cash?

The frequent occurrence of fake currency notes

Chances of theft forces outlet owners to spend more time on-site

Prone to error (i.e. currency denomination and count) while dealing in large orders

Revenue loss due to lack of availability of loose change

Irregular tracking with respect to vendor payments

4. Improved Cash and Tax Management

Maintain digital records of your sales/billing (mandatory to pay under incoming GST)

Allows for collection of payments remotely from customers

Makes tending small change to customers irrelevant

No fear of losing cash or getting robbed

Allows payment to be made to suppliers by card with the benefit of a minimum 45 day credit at no interest