Which is better for our business accepting cash payment or online payment?

[kirubel]

When we sell our products and also when we offer services to our customers then our customers will pay us money and choosing the right payment options will help us to make the payment system fast and easy for us and also for customers which make our customers comfortable and relaxed because they don't have to worry about the payment systems, when i go to shopping some stores only accept cash payments and the cash money i have in my wallet will not be enough for paying for that good so i change my mind and leave without buying the product and this will make the business owner lose some money because of lack of the payment system, so having the right payment system will increase the rate of getting more money in return of our products.

 

[Ofonime]

Obviously if it's someone like me I will choose to accept payment in cash I won't to bother my customers paying through others means it might be a burden to some customer so cash payment is also easy for smooth transaction

 

[timewo]

Sometimes there are problems with online payments, and the bank account can get frozen in some countries if someone has committed fraud. Cash payment is better for low value items like food.

 

[Golden9]

We use both in our business and it works well. Adapting to your customer's needs when it comes to payment procedures can make a huge difference in your sales. Some will prefer to use their credit cards, while some definitely still love to use cash.

 

[kirubel]

We use both in our business and it works well. Adapting to your customer's needs when it comes to payment procedures can make a huge difference in your sales. Some will prefer to use their credit cards, while some definitely still love to use cash.

Yeah having both cash and online payments will increase the income amount and also there will be more payment option of the customers, there are some good that need huge amount of money to buy and for that using online banking system will help.

 

[cherry123]

The thing is that with business having the right payment system will increase the rate of getting more money . So it is to first find out which will be more suitable for your customer and use it

 

[SHAHID987]

It could be differ from country to country and area to area, in my locality where my shop is located, mostly people don't know whether something exist with the name of online payment, so at least for me there is only option left which is cash payment.

 

[HansonU99]

I will prefer cash payment to card or online payment so I think that in any business I do all my payment is received through cash and not card

 

[kirubel]

It could be differ from country to country and area to area, in my locality where my shop is located, mostly people don't know whether something exist with the name of online payment, so at least for me there is only option left which is cash payment.

In most of the countries especially on those 3rd world countries the society don't have much idea about online payments including in my country most of the society don't know about it and only small amount of peoples use the online payments.

 

[eldavis]

I think it is a matter of preference, depending on which you are more comfortable with. These days most people tend to use online transfers more than cash payments. I believe it would be best for a business startup to be able to accept both.

 

[kirubel]

I think it is a matter of preference, depending on which you are more comfortable with. These days most people tend to use online transfers more than cash payments. I believe it would be best for a business startup to be able to accept both.

True accepting both cash and online payments have good opportunity and chance for the customer and also for the business or shop owners, peoples may not carry cash moneys some times so the shop having the online payment will give a good chance.

 

[Fidelia]

In this days and times, any business should try to accept both cash and digital transfer payment methods to accommodate every kind of person that might want to patronize the business.

 

[HansonU99]

In were I live people don't even bother to pay for their goods through online payment rather all transactions is been handled by physical cash presentation

 

[eldavis]

True accepting both cash and online payments have good opportunity and chance for the customer and also for the business or shop owners, peoples may not carry cash moneys some times so the shop having the online payment will give a good chance.

Yea, like myself most of the time i usually move cashless cause when i consider the time i would be going to the ATM to get cash or even the charges they would take if i decide to use the local POS near me, i would rather not withdraw. There have some stores i no longer buy from cause they do not accept ATM cards and also do not accept transfers.

 

[kirubel]

Yea, like myself most of the time i usually move cashless cause when i consider the time i would be going to the ATM to get cash or even the charges they would take if i decide to use the local POS near me, i would rather not withdraw. There have some stores i no longer buy from cause they do not accept ATM cards and also do not accept transfers.

You are right also in my country there are many stores who don't accept bank transfers and don't have POS machine for payment options and that makes the shopping very hard, and i have to take some huge amount of cash when i buy something.

 

[nomad]

If you receive cash payment, you will have to go to the banks to deposit your money, however, if you use online payments, your money will be directly deposited in a bank account.

 

[Stardom22]

For me l would accept cash payment on my business. The reason for doing this is that online payments are very sensitive and it can be so insecure in most cases

 

[Niyi Briggs]

For my own kind of business, it is cash payment that would favor me the most.