This is a short article – because the premise is easy. Old people pay with cash, young people pay with credit card or debit card. Even direct debit is in the “annoying” box. The Reserve Bank of Australia has published new research showing that cash is on the steady decline we could all see, but even payment via “Internet Banking” is still really low. You can read and download the whole report here.
Credit and debit cards combined were the most frequently used means of payment
What do you need to do?
You need to:
- Find out the expenses of accepting credit cards, research the best providers for your case (Pro Tip: I can help)
- Budget those expenses into your business plan
- Make it easy for people to pay you using credit/debit cards
I feel like I’ll be writing lots of tutorials on this topic, but here’s one from a few weeks ago which is a reallllllly easy way of getting started.
Image Credits: Negative Space.