Small businesses already face a number of challenges during this time of the year, ranging from longer working hours, increasing stock levels, hiring additional staff and maintaining quality standards. With a cashless payment solution in hand, business owners can at least focus on efficiency and increasing sales revenue.
Vuyo Mpako, Head of Innovation and Channel Design at Standard Bank, says protecting one's business and its resources should be a priority to any small business during the festive season. There are a number of ways that a small business can protect itself; from varying bank visits to increased armed security on its premises. However, another effective way is adopting cashless payment solutions to eliminate or minimise cash on premises.
"Businesses are increasingly seeing value in offering a cashless payment solution to their clients. Not only does this improve cash flow management, but it makes reconciling at the end of the day so much easier and helps to keep your business safe at all times. It takes away the need for a large cash float in your register which leads to fewer trips to the bank."
Cashless payment solutions are geared to equip small businesses with a quick, easy, affordable and secure payment solution. One payment solution that businesses should consider adopting is SnapScan, which is currently being used by over 12,000 businesses in South Africa.
"SnapScan is driven by Quick Read (QR) technology that allows customers to pay using their smartphones by scanning a QR code that is unique to each merchant and confirms the transaction with their PIN. As the merchant, you receive proof of payment via SMS and the payment made directly into your account."
