Accepting payment on marketplaces is an important part of the sales process, and it’s crucial that you offer customers easy and secure ways to pay. Whether you’re selling handmade products, clothing, art, or second-hand goods, choosing the right payment methods is important to make the buying experience as smooth as possible. Here are some tips on how to accept payment on marketplaces and maximize your sales.
1. Offer cash payment
Even in today's digital world, cash is still one of the most widely used payment methods in markets. Many customers prefer to pay with cash, so make sure you have plenty of small bills and coins so you can give correct change. It's a good idea to bring a cash drawer or a secured money belt to keep your cash safe.
But be aware that cash payments may be limited by how much money you have with you, and it may be a good idea to encourage customers to use alternative payment methods if you have them available.
2. Use MobilePay or other payment apps
MobilePay is one of the most popular and easy payment methods in Denmark. Many customers today expect you to be able to accept payments via MobilePay, so it's a good idea to have this solution ready. It's fast, simple and doesn't require cash, making it easier for both you and the customer.
To accept payment via MobilePay, you need to have your QR code ready to be scanned. You can either print it on a sign for customers to scan, or you can display it directly on your phone. If you have a business account, you can also use other apps like Swipp, Vipps or similar payment solutions.
3. Use card payment with a mobile terminal
Another popular payment method in markets is card payment. You can choose to use a mobile payment solution such as a card reader that allows you to accept payments via credit card, debit card or contactless payment. Many solutions are now easy to use and do not require a physical cash register.
Solutions like iZettle, SumUp, and QuickPay are great options for small merchants as they are easy to set up and use. They allow you to accept card payments directly on your smartphone or tablet, making them ideal for markets. All you need to do is connect a card reader to your device and connect to the internet, and you are ready to accept payments.
4. Consider payment via bank transfer
While it's not the most common payment method on marketplaces, some customers may choose to pay via bank transfer, especially if you're offering larger purchases. This can be a good option if you have a loyal customer base or if you're selling higher-value items. However, it requires you to provide your bank details to the customer, and it can take longer for the money to be transferred.
If you choose to offer this payment method, please be aware that it may take longer to get the payment confirmed, and therefore it should not be the primary payment method for smaller purchases.
5. Combine multiple payment methods
To make it easy for all customers to pay, it's a good idea to offer multiple payment methods. Combine cash, MobilePay, and card payments so customers can choose the method they feel most comfortable with. The more payment options you offer, the better chance you have of selling your items. Many customers won't shop if the desired payment method isn't available, so be flexible and adapt to your customers' needs.
6. Ensure secure storage of payments
When accepting payments at markets, it is important to ensure that your money is kept safe. If you have cash, make sure to keep it in a safe or cash box that is hard to reach. If you use MobilePay or a card reader, make sure your phone or tablet is up to date with security measures such as PIN codes or fingerprints to protect your payment information.
When accepting payments on marketplaces, it's also a good idea to have someone to help you if you're expecting a large number of customers or if you have a lot of cash. This can help keep you in control and ensure you don't lose money or fall victim to fraud.
7. Consider a total solution for payments and accounting
There are payment solutions that allow you to both receive payments and help you keep track of your sales. Solutions like iZettle, SumUp and others offer features that allow you to generate receipts and keep track of your accounts. This can be useful for both you and your business, as it saves time and gives you a better overview of your sales.
Some of these systems also offer the ability to create reports so you can easily track your income, which is important for keeping track of your finances.
8. Always have a solution ready if the technique fails
Although technology like MobilePay and card readers are convenient and fast payment solutions, sometimes the technology can fail. Make sure you have a backup plan in case your mobile payment solution doesn’t work. This can be anything from having extra cash on hand to being able to offer bank transfers or an alternative payment system. Being prepared for technical issues can help you avoid stress and ensure that you can still complete your transactions even if problems arise.
Accepting payments on marketplaces requires you to be prepared and flexible. With the right payment solutions and good payment storage, you can make the shopping experience easier for your customers while increasing your chances of closing more deals. Be sure to choose the solutions that best suit your business and your customers, and always be prepared to offer multiple payment methods to maximize your sales.
