For small businesses, making it easier for the customers to pay is very important. With a variety of options in front of you, you need to think about your profit margins, the size of your transactions and the industry you are in while choosing your payment method.
In this blog, we have rounded up the best small business payment options that you can try for your business.
Types of Small Business Payment Options
Debit and Credit Card Payments

77% of customers say they prefer credit and debit cards to make payments. Card payments ensure a smoother checkout process for the customers. Another benefit is that it allows customers to make larger transactions.
A downside of card payments is their processing or transaction fees. Typically the average charge per transaction total is 1.5% to 3.5%. You have different options to set up card payments.
- For online card payments, you can add a payment form or payment integration on your website using any payment gateway such as Cashfree Payments or RazorPay. If you are using accounting software or a business management software you probably might have access to online card payment options through app integration.
Also, if you subscribe to a small business CRM software like Zenys , you will be able to accept card payments by simply sending a payment link to your customers.
- For offline card payments, you can use a POS system. It allows you to accept all forms of payments. It usually comes with a card machine used to process payments made by debit or credit cards.
Mobile Payment

Mobile payment is one of the quickest ways to get paid online. People spend most of their time on their mobile phones and mobile payment is the most convenient way to pay for them. There are plenty of mobile payment options for small businesses. Here are some ways you can set up mobile payment.
- Digital Wallet payment: Digital Wallets have been an increasingly popular small business payment option among small businesses and freelancers. Google Pay, Apple Pay, Pay Pal, and Amazon Pay are some Mobile Wallet providers.
- Mobile card readers: Using mobile card readers you can swipe credit or debit cards and instantly collect payments from customers. You can connect the card reader to your mobile phone via Bluetooth and sync it with the payment software to collect the card payments.
Online Payment Gateways
If you are looking to provide a seamless payment experience for your customers, an online payment gateway is a right choice.
In simple terms, a payment gateway is a middleman between the customer and the merchant account (the financial institution that maintains the merchant’s bank account). It validates the card details of the customer and sends them to the bank. Some of the popular payment gateways in India are Razorpay, Cashfree, Payu. You can look at the top payment gateways in detail in this blog.
Email Invoicing

If you are a service-based business, email invoicing is a great small business payment option. You can easily send a payment link to your customer in the email invoice that directs them to the payment page where they can make the payment. Once the payment is made, you will get all the collection details in one place.
Using a business management tool like Zenys you can generate payment links and send them to your customers along with the invoice. Collection details get automatically updated against the invoice once the customer makes the payment.
Cash and Cheques

Even after the digital adoption trend in India, businesses and companies still have an affinity toward cheques and cash payments. This old payment option is an easy payment method for many as the payments could be received immediately without having to wait for the transaction to complete. Cash payments are typically managed by POS systems.
For businesses with low-profit margins, this is a more convenient option as they do not have to bear the transaction costs associated with card payments.
Wrapping Up
As more and more payment methods become available, it is important that your business too adapts to it. Your customer’s convenience should be a priority to you. Understand their needs and their preferred payment method and offer them alternative payment options.
If you are looking for an easy solution to set up online payment for your business, try using Zenys business management software. You get to manage your contacts, and sales, create and send invoices and also get paid online. Do everything from a single tool! Sign up for Zenys and grow your business.