Cash flow is the lifeblood of any business. For self-employed freelancers this is particularly true. If you are a mobile freelancer operating a business model that require you to go on-site to service your clients you need a payment solution that will go with you. If you operate an e-commerce business or accept online payments for your business then read on for tips on how to select the right payment processor.
For many self-employed IT professionals, business consultants, accountants and other independent service providers, Bevel Advance Payments platform is the go-to recommendation of our team. Why? Because the Bevel Advance platform provides a comprehensive array of payment options and so much more. It's an affordable payment processing option for self-employed business owners.
Bevel Payments Solutions allows self-employed business owners to have security and flexibility when it comes to accepting payments online. These are two important factors to consider. According to the Bevel Payments Solutions' team there are seven others including:
1. Your customer experience, how they interact with your payments system is critical.
2. Technology and functionality are musts. Make sure the gateway provider you use can support the type of functionality (i.e., reporting, emailed receipts) that best suits your business and appeals to your customers.
3. Seamless integration is key. Your gateway provider should offer the flexibility that allows you to do business today, while supporting your business growth with tools that integrate with your other tools that you use including your accounting software.
4. Future-oriented payment gateway providers are also key. You need to work with a payment gateway provider who is constantly developing new ways to elevate user experience and ease of use.
5. Pricing, fees and service value are important. Can your payment gateway platform help you increase cash flow without eating up our profits? Knowing your business numbers is key when you are negotiating payment processing fees. Ideally, look for a transparent fee structure, no hidden fees in the fine print, a positive conversion rate, and value-added services.
6. Technical and customer support must be dedicated. There’s nothing worse than losing a sale because of a technical glitch, or not being able to accept a payment because you’re confused about how your gateway processor works. Be sure the online payments processor you choose offers live assistance from a responsive team or account manager.
7. Payments security is paramount. You may offer the best product or service possible, but if customers don’t feel safe purchasing from you, it could hurt your sales. Your gateway provider should at least meet these minimum requirements:
Of course, you’ll also want to understand how you will receive payments before you choose a payments provider. Will you receive settlements daily or weekly? These settlement options will determine how quickly you are able to access your funds.
As you can see, there are many decisions that need to be made when it comes to selecting a payment processing platform for your mobile freelance business. Considering the impact your payment processing gateway has on your cash flow, it's key to select one that supports rapid and secure payments. For a solution built for small businesses, check out Bevel Advance Payments.
Jonathan Medows is a certified public accountant licensed in New York, New Jersey, Maryland, and Pennsylvania. He is also a recognized expert in taxation for freelancers and the self-employed—often tapped for his expert knowledge and perspective on self-employment taxation by national and regional publications such as The New York Post, BusinessWeek, Forbes taxation blog, WebCPA, CPA Practice Advisor, and others. You can read some of Jonathan’s press coverage here.
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