The world is going digital. In some parts of the world, that process is very much in the late stages. Such is the case throughout much of the United States. When credit cards first came into being, users often found they were unable to use them due to businesses not being set up with a point of sale (POS) device. Instead, many businesses were cash or check only.
Today, personal checks are largely a thing of the past. However, you can still occasionally find businesses that are cash only. These quaint operations of an age gone by are few and far between, and these days you are more likely to see a business that is cash-free rather than cash-only. Accepting digital payments for your event planning business can help you keep with the times, among many other benefits.
Types of Digital Payments
There is a wide range of digital payment options available these days. Using a standard credit card in a traditional POS device is almost archaic, depending on your type of business. While this option does still exist, there are much easier solutions available. Of course, you can accept payment by bank transfer or through PayPal. A PayPal payment can result in you receiving money from a client immediately.
Another popular system for businesses is the Square payment system. This system allows you to connect payments across all of your devices and give your clients the option to pay online or pay you directly. With the wide range of services offered by these devices, you get the best of all worlds.
You can connect your website to Square and take payments from your clients online. You can also plug the small portable POS into your mobile phone or tablet. With this device, you can process payments through your device, much like a traditional POS. You can process payments made by card or cash and email your client a receipt. You can also use Square to create invoices to send to your clients so that they have the full breakdown of your charges.
Digital Payment Options Can Help Build Your Client Base
When it comes to event planning, people are rarely going to be looking to pay by cash. With most events, you will likely be receiving a fairly hefty sum for your services. This is especially true if you specialize in larger events. When you have a corporate client, there is still a decent chance that they will have the means to write you a check. However, as mentioned previously, most people under 50 no longer bother with personal checks.
Without other means of payment available, you are likely to discourage potential clients from hiring your services.
Go Green
In this day and age, it has never been more important to reduce your carbon footprint. By dealing with all of your transactions through digital means, you can avoid printing out invoices and receipts. You also don’t have to waste envelopes sending invoices to clients. Every little bit helps in your efforts to make your business carbon neutral.
Having a carbon neutral business can also be a selling point to many clients. Large events can often result in poor environmental impacts. In addition to online payments, you can make your events bottled water-free, with environmentally friendly alternatives to these plastic parasites.
Save Money
Another great thing about going green is that it is almost always a money saver. Reduce your paper budget to zero with paperless billing. You can also save money on staffing with an invoicing system like Yooz or Square, as not nearly as much time will need to be devoted to billing and invoicing.
By taking your business cashless, you can likely reduce your insurance premiums with your business insurance company. When your business is advertised as being cash-free, criminals are less likely to break into your offices to attempt a burglary. While this change might not affect your event insurance, you should talk to your event insurance company to discuss any possible changes this could have on your insurance coverage.
Get to Work Quicker Without Worry
Another great benefit of online payments is that you can get to work immediately without worry. In the past, when a client hired an event planner and cut them a check, the planner was left with a bit of a dilemma. They could either get to work immediately and hope that the check cleared, or they could wait until the payment was processed before starting working on the project.
With digital payments, you can receive your deposit immediately. You do not have to worry about putting your time and energy into planning an event for nothing.
