Taking payments in a gig-economy world.

The world of business has loosened up in recent years, losing its rigid format. No longer does a person need to have a company name, registered head office, or even have fixed office premises in order to run their business. Often, contractors can work from home – or while out and about – trimming their overheads in order to maximise profitability.

Offering a layer of protection

However, there is always one part of the transaction that causes both parties a certain amount of discomfort: the actual hand-over of cash. While paying cash for services is still widely accepted, most people are more comfortable making payments via card or using phone (or smartwatch) apps because this offers them a layer of protection.

In fact, paying by card protects both parties – the vendor and the purchaser of the product or service. This is because most credit card companies will conduct a fair and impartial investigation when there is an enquiry on a payment, with both parties being asked for their version of events.

Choosing cashless payment solutions

More and more sole traders, freelancers and very small companies are opting to embrace cashless payment solutions. While these can sometimes be operated through mobile phones, having dedicated and secure mobile card machines to hand can offer a more professional and business-like aura, giving your customers confidence that you are serious about your business and set to establish yourself as a growing concern.

These terminals also make it ultra-easy for your customers to pay with contactless payments. Contactless payments are far and away the most popular way to make low-level payments in today’s world, being used for everything from a roadside coffee or snack, to a quick top-up shop, to the purchase of clothing items or gifts for friends and family – anything and everything, as long as it is under the contactless limit.

Getting ahead in a competitive world

For today’s gig economy workers and SMEs to be able to accept card payments in every situation is just one small way that they can get ahead in a world that is simultaneously more competitive and more welcoming of the small and mid-size business.