Go Ahead: Commercialize your business

How often have you been asked if you accept mobile money payments after going over the hurdle of convincing a buyer to take your product of service?

I often get bewildered when a seller tells me to send cash to his/ her personal number and worse still, being asked to add their withdrawal fee. Even more devastating is to be told to withdraw to a nearby mobile money agent or ATM. The last option is usually a deal breaker unless pushed to the wall.

It’s time businesses thought through and properly so, the need to accept payments through several channels. And for a long time my mantra was always: as long as you can accept cashless transactions, you are guaranteed more sales, which in reality all depends on the market.

A pal recently went through a saddening experience where he purchased gas at a station in late in the night and paid in cash. Seeing the buyer was desperate and not keen, the fuel attendant did not serve the full value of the litres paid for in cash and my pal ended up getting stuck in a few kilometres later. The sad bit is that the buyer had no way of validating his payment and litres ordered for as he had paid in cash- making a nuisance of his transaction.

You see, had there been a cashless transaction, it would be easier to trace the payment, the attendant who served him and reconcile the litres dispensed.

Bringing me to the parting shot: it’s time businesses accepted cashless payments and even better automated their payments in no fewer than these methods:

  1. Apply for mobile money merchant solutions e.g. MPESA, Android pay, Apple pay, VOOMA, Equitel, WeChat, Master Pass
  2. Apply for card processing solutions, at least accepting the major card brands in your area- most big banks can help.
  3. Adopt automation of your cash transactions, linking your cash tills to your points of sale software and intelligent cash deposit acceptors (smart safes).

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