How we’re sorting cash flow issues for small businesses

September 4, 2020

Poor cash flow management is the main reason 80-90% of small businesses fail.

This may be due to customers taking too long to pay, suppliers delaying shipments or owners overcommitting to certain payments and debt obligations. In any case, cash flow is at the core of managing a business smoothly. At Pomelo Pay, we believe we can make taking payments better.

Our online payment systems are easy to set up, affordable to maintain and offer multiple payment options for your customers. Here are a few ways our system can help your business manage cash flow more effectively.

Get paid instantly

Are you constantly waiting on invoices to be paid by vendors? Do you end up using your own resources to pay staff salaries, rent, supplies and equipment? If the answer’s yes, then you need to look at offering a faster, easier way for vendors to pay. Late payments can quickly upset your business cash flow and leave you chasing payments for weeks.

The solution: payment links

With Pomelo Pay’s payment links, you can send a link that goes straight to your vendor’s mobile phone. All they have to do is click on the mobile link, enter their payment details and complete the transaction. Your vendors no longer need to access their office computer just to pay you.

Here’s what you do:

  1. Create a payment request
  2. Input payment amount
  3. Send the link via email, WhatsApp or SMS

Your vendor receives the link on their phone and is then given the choice of paying by credit card, debit card, Apple Pay or Google Pay. Once payment is made, the link is deactivated.

Payment links can be uniquely referenced so you can always keep track of orders and see exactly who owes you what. With Pomelo Pay, you’ll also receive your funds the next day – no need to wait for days to receive your money!

The convenience and speed of using Pomelo Pay’s payment links means vendors pay in full and on time. You no longer need to waste your precious time chasing late payments.

Save money on fees

Is your card reader giving you the best value for money? Most app-based card readers are expensive to maintain and all the accompanying fees can seriously affect your bottom line. Wouldn’t it be easier and cheaper if you could just use your phone to accept payments?

The solution: QR mobile payments

With the Pomelo Pay app you can turn your mobile phone into a POS. This means that you can accept payments from anywhere and anyone. You won’t need to purchase a card reader, commit to a contract or pay expensive terminal fees. The Pomelo Pay app is free to download and you pay just one low fee of 1.49% per transaction.

Here’s what you do:

  1. Download the Pomelo Pay app and sign up for free
  2. Connect your bank details
  3. Print out your QR code or keep it on your phone to accept payments

Your customer scans the QR code with their smartphone and a push notification directs them to a payment page. They then have the option of paying by debit card, credit card, Google Pay or Apple Pay.

All this can be done while following government guidelines and maintaining a safe distance. All your customer needs is a smartphone camera – no need to download another app.

With QR technology you receive your payment upfront from your customers, which is great news for your cash flow. Payments are remitted the next working day and your bank account gets an instant boost.

Take orders online

If you run a cafe, takeaway or restaurant, an online ordering system is essential in order to maintain a safe distance and follow government guidelines. As well as adhering to social distancing guidelines, the convenience of ordering online encourages customers to use your services.

With on-the-spot orders and payments you don’t have to worry about people leaving without paying, errors with prices or handing out the wrong change!

The solution: an online ordering system

With Pomelo Pay’s online ordering system you can offer online orders and payments without setting up a website or building a new app.

In fact, with our system your customers can order and pay online without having to download anything at all! It’s free and easy to set up, and our comprehensive template has simple edit features that allow you to quickly add and delete food items whenever you need to.

Here’s what you do:

  1. Sign up for the free Pomelo Pay menu maker
  2. Create your customisable menu
  3. Print and display the QR code and start taking orders

Your customer scans the displayed QR code with their smartphone camera and the menu pops up. Food items can be browsed, ordered and paid for right at the door or at their table.

The app accepts VISA, MasterCard, AMEX, Apple Pay and Google Pay. You can also easily offer discounts such as the Eat Out to Help Out scheme, and ask customers to share their experience on social media and offer feedback.

Offering an online menu is a great way to improve customer experience, and customers tend to spend more when they order online. You also give yourself a better chance of boosting sales and increasing your profit margin - all great for cash flow.

Payment links, mobile QR payments and online ordering systems are all features that aim to help small businesses manage their cash flow efficiently while also offering a superior buying experience to customers.

At Pomelo Pay, our online payment systems are free to download, easy to set up and affordable to maintain. Interested in joining? Download our free app below!