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Pivoting for success during the Covid-19 crisis

It’s often said that necessity is the mother of invention. Coronavirus is certainly acting as a catalyst for change in many businesses. With many nations in lockdown, people self-isolating, physical stores closed and daily life disrupted, businesses are facing a stark choice: adapt or die.

Traditional face-to-face businesses are looking to sell online by launching or expanding transactional websites. They’re also looking to take telephone orders. Here are some of the main questions to consider around payment acceptance.
 

How soon can I get set up?

Time is of the essence. You need a payment provider that’s able to respond quickly. Cashflows began life as an e-commerce acquirer. We’ve been helping all types of online sellers for years. We’ve honed our processes so our experts and automated systems can have you set up in no time.

Suppliers often talk about how they can process all types of major cards in multiple currencies. And Cashflows can do that, too. What they don’t really mention – very much or at all – is their appetite to risk.

Unlike traditional acquirers who rely on policies and procedures set by head-office. Or set for one type of business and retrofitted to another. We work directly with businesses to assess risk on a case by case basis.

This means that we’re able to support a range of sectors and partners from financial services and lending through to general retail, local authority and education. Whether you’re an SME or an enterprise client, we’re ready to work with you.
 

What equipment do I need?

Little to no additional equipment is required to sell online or on the telephone. A virtual terminal from Cashflows means you can start trading fast with no need for extra hardware. There’s no complex software to install or maintain either, which cuts hassle and time-to-revenue.

Simply enter the card details into a secure online form, which connects to Cashflows’ payment gateway for a response in seconds. And because it’s designed with a range of devices and screen sizes in mind, the virtual terminal is available to multiple users simultaneously at no extra cost – great for when things get busy.
 

How soon do I get paid?

If you usually sell to the trade via payment on invoice, getting paid on cards is a lightspeed away. Cashflows offers same-day settlement for card payments to boost cash flow and working capital efficiencies. This is vital at any time but especially during the Covid-19 crisis.
 

How much does it cost?

Cashflows offers competitively priced payment processing for all major card schemes, direct debit and more. Compare our prices with the best of the rest. If you find all-in online payment acceptance cheaper elsewhere, we’ll almost certainly match or beat it.
 

What about after the Covid-19 crisis?

Payment acceptance can be more than just a quick fix to the specific Covid-19 problem. Implemented correctly, it can be a complete commerce solution to maximise sales across multiple channels post-Covid.

Cashflows offers acceptance of UK direct debit and Faster Payments as well as various local payment methods, such as iDEAL in the Netherlands. Offering more payment methods is a great way to connect with more customers.

Having the right data and customer insight can also help businesses plan, track and improve. Cashflows’ business intelligence suite runs on a single platform with consolidated reports, however you trade now or in the future.
 

For more information

To find out more about payment acceptance with Cashflows, contact us today