When you are a business, it is not easy keeping track of your money. This is because it will come to you in different forms ranging from cash to cheques to credit or debit card payments. Thankfully, larger firms will have an accounts department taking care of the transactions to ensure that they are recorded and accounted for correctly. Keeping the cash secure is then another issue.
The money held by some companies is at higher risk than others when it comes to their money being targeted by thieves, whether they be unscrupulous individuals or gangs. Thankfully, not only do credit card systems eliminate the risk of cash being stolen, but credit card processing services for high risk companies have become an option to deal with the greater risk of fraud and chargebacks in the case of these types of businesses.
We shall therefore think about the different systems that businesses have put in place to handle their payments securely. It is a two-way thing and both customers and businesses will want secure ways to pay and receive money.
Easy Pay Direct
One way to keep a business’s money secure is to use a credit card terminal to accept payments from customers. One such system is Easy Pay Direct which will take payments anywhere. It means that customers do not have to carry cash and businesses do not have to hold on to it until which time it can be banked.
The advantage of the Easy Pay Direct system is that it benefits both customers and businesses alike. Bulky cash is a thing of the past, change and cheques are getting scarcer it would seem, and for many credit cards are becoming king and queen in most places.
Regular Banking But Not at the Same Time
Businesses, for security, will regularly take their surplus cash to the bank. This is good in principle, but at the same time, if it happens at a regular time each day, it makes companies who are high risk anyway because of the amounts of money they deal with, a sitting target for thieves. The solution, of course, is to reduce the amount of cash that you are being paid. This is possible when credit cards are accepted. Then, to have a good system to do this is to embrace Easy Pay Direct.
So, mobile Easy Pay Direct terminals can be seen to eliminate the theft risk to a company and the potential harm that may come to the employee who has to carry the cash to the bank. Security firms can, of course, be used to carry larger sums of cash, but then, this service will come at a considerable cost to a business. Instead, a business is far better putting its time and effort into converting its customers or clients to a credit card accepting facility.
If you are a business start-up, look to adopt secure payment methods straight away to satisfy your customers and maintain security for yourself.
Payments on Account
With certain types of businesses, customers or clients will not be required to pay for goods or services straight away but be given credit. In other words, time to pay. This is not to dictate how they pay at the end of the day but rather seen as a custom that takes place and is expected within certain industries. What is good for the cash flow of one company may not particularly suit that of another. That is, however, how it is in some business situations.
So, having payments coming in at different times can manage the flow of cash and even out the amounts that are floating around. However, when large amounts are settled at a time, this can still amount to too much money to protect from thieves. So, there is no substitute for encouraging those you deal with to get on board with the Easy Pay Direct system. It is not something to look back from once it is adopted because it is just so convenient and secure when it comes to payments.
To conclude, there is no doubt that money is managed better and more securely by businesses when credit card terminals, such as Easy Pay Direct, are used. Banking cash regularly, but not in a way obvious to thieves, is not easy but another option to stay secure. With advancing technology, though, cash would seem updated now, whether payment is being made for instant purchases or later to settle an account balance. In everyday life now, there is no reason why everyone cannot keep as tight an eye on their finances as with cash when we have internet banking. We can view transactions at any time of the day or night and know that the money is in the bank rather than in the process of being transferred into the pocket of a thief.