Tackle Cash Flow with Electronic Payments
Small businesses face many challenges as they grow, but one of the most frequent problems is cash flow. Payroll fees stunt new businesses’ growth at a time where every penny is precious.
My company, Visage Payroll, has set an incredible but not unreachable goal: provide free payroll to a million startups and small businesses in the next five years. As a brand-new startup ourselves, we needed a quick and easy way to make this idea come to life. The answer was clear: electronic payment acceptance. We wanted to make it easy for our brand partners to pay us to sponsor our small business customer’s payrolls.
The electronic payment experience is faster and easier than manual payment processing options that slow the customer acquisition process. For a company our size to help other small companies, we cannot afford to be slow.
A lot of responsibility comes with managing other companies’ payroll and taxes. We can’t be burdened with the disorganization that comes with manual payments. Contacting people when checks bounce and dealing with cash just wouldn’t work. It would take each of our clients and all of our staff to keep track of paper payments!
At Visage Payroll, we were eager to accept debit and credit cards, starting with our very first client. Luckily, the widespread use of digital payment processing should drive down the cost of fees in the future, which will allow companies to provide services like ours across the country.
With our march to a million small businesses and startups served, we don’t have time to miss a beat. Electronic payments help keep us and our clients moving forward.
Tags: Business Growth, Payment Technology, Value of Cards