Payment methods

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Like many aspects of our lives, the ways in which we pay for products have evolved to be very diverse and simple to use. In the past, people had to rely on cash as the only way to purchase products and services. Today, companies must be prepared to receive different methods of payment. This helps them to diversify and gain more customers and profits. So, how many payment methods are there?

Table of Contents

Cash payment

Cash is one of the oldest and best known forms of payment available. Either with bills or coins, known as fiduciary because people assign a value to it that indicates its denomination. People all over the world still use cash to buy, lease, and hire goods or services.

With the arrival of the Internet and the many virtual businesses, cash has been relegated to new forms of payment that are more adapted to the needs of the medium. Nevertheless, people still use it very often in physical establishments.

Payment by check

Checks are also one of the most widely used forms of payment, especially when large sums of money need to be paid. The idea behind them is very simple, and does not vary whether they are personal, bank or for ecommerce (although this is less common in B2C). The buyer issues a document where he specifies the amount to be paid, the bearer goes to a bank and makes the exchange for cash or whatever method he prefers.

Gift vouchers are often used in e-commerce as one of the most common and effective means of building loyalty. They are rewards that ecommerce offers its customers for achieving certain goals in the relationship with your store.

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Payment by card

But when it comes to popular forms of payment, we cannot fail to mention cards, whether credit or debit. Its operation is very simple, with the credit card the bank gives you a certain amount of money that must be paid by the buyer in the future. With the debit card, the consumer uses the amount of cash he or she has in his or her bank account.

This method was already popular before the emergence of the Internet, but with the popularization of online sales and thanks to the POS, it is now the most used way to buy and do business.

Cash on delivery

This form of payment is widely used in small virtual businesses, especially those operating locally. It is also used in some online purchases from well-known stores. It is a simple and convenient way to purchase your products. It consists of buying an object, no matter what category, and paying for it when it arrives at your home. The money is taken care of by the shipping companies that offer this service for free.

Payments through mobile phones

Everyone these days has a mobile device. No wonder payments can now be made through them. In this mode, users buy directly at the point of sale or through applications, then make their payments with a QR code.

In this sense we find options such as Bizum, with which you can make your payments from any device and in any virtual store that enables this option. This is a simple, fast and effective way to manage your accounts, since you only need to enter your mobile number and the key to buy everything you want.

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Conclusion

We believe that having several forms of payment is the most suitable for a business, as it offers flexibility for your customers. Plus, we don’t think it has to make your life difficult. At least not if you use our POS, which is designed to help you run your business in the easiest and most efficient way. Do you have any questions?

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