🗳️Vote: How do your customers pay you?

We want to make the process of collecting payment from customers a breeze. To help us achieve this, we’d love to learn more about how customers currently pay you.

Please complete our poll below by selecting one of the options listed below:
:bank: Bank transfer: Customers make a transfer funds to a designated bank account
:money_with_wings: Cash: Customers pay with physical cash
:computer: Cryptocurrency: Customers pay you in cryptocurrency (e.g. Bitcoin)
:date: Direct debit: Customers make recurring payments via direct debit from their bank account
:credit_card: EFTPOS: Customers swipe or tap their credit or debit card onto a physical payment terminal to make a payment
:globe_with_meridians: Online payment gateway: Customer can pay your business directly via a website
:grey_question: Other: We’d love to hear more about how you collect payment from your customers

How do your customers pay you?
  • Bank transfer
  • Cash
  • Cryptocurrency
  • Direct debit
  • EFTPOS
  • Online payment gateway
  • Other (please comment below)

0 voters

As always, your feedback is invaluable and will allow us to shape Parpera’s product to meet your needs.

1 Like

Thanks for this @Ahijith!

:bank: Bank transfer consistently comes up as the most frequent method used to receive payments across the business owners, freelancers and entrepreneurs that we’ve spoken with.

I’m curious to hear how many people are taking up NPP (PayID) as method to receive money for their business and whether any one goes to the effort of setting up BPay? :thinking:

:credit_card: Further, would people accept card payments if they had an easier and faster way to do so? (without the need for a physical device)

Thanks @Ahijith :slight_smile:

Speaking from my own experience accepting payments from clients for development work, bank transfer has been the primary method of payment for a couple of reasons:

  • Accessibility - pretty much everyone can make a simple BSB & account number transfer
  • Confidence - once I see the transfer it is settled and cannot be revoked so I know I have the money

The biggest downsides to this method however are:

  • Speed - the payment will take a minimum of 1 business day to settle (for first time payments from a client, even if their account is NPP enabled)
  • Visibility - neither the client nor I have any knowledge that the payment went to the correct account or was even initiated at all until it is finalised

I think if we can enable payments which improve on the latter points without sacrificing accessibility and confidence then we are on the right track!

Further to @Daniel’s question around taking card payments without a terminal, we’re very interested in what the ideal payments collection process would look like to you, and which aspects (similar to the ones I listed above) are most important to you and your business.

1 Like

A big thank you for everyone who has contributed so far, it’s been great to watch the votes trickle through; please keep them coming!

Bank transfer is winning the race at the moment, no surprises here given how accessible this method of payment is. It’s interesting to see that based on the early responses, we already have a business that accepts cryptocurrency. We will keep a close eye on this space. :face_with_monocle:

1 Like

Bank transfer tends to be the favoured option by my Australian clients but international clients are more used to paying the invoice digitally with their debit/credit card (integrated into my CRM via Stripe) or ask about transferwise/paypal etc

I created a custom payID for my business (accounts@belindalong.co) and include this on my invoices but I think a lot of clients still aren’t 100% sure about how payID works and generally search for the BSB/ACC combo (at least my older clients, 40+). Millennial clients almost always ask for the payID and transfer directly from their phone banking with payment landing immediately.

Re. your last question about accepting card payments without a physical device – yes, 100%!!

2 Likes

@belinda_long - thanks for your insights! This is consistent with what we’ve learned along our journey. While not the most convenient, BSB and Account No. remains the primary channel for receiving business payments.

We believe that the main drivers of this are (a) low accessibility (usually high cost, limited inconvenient offerings) for businesses to receive card payments; and (b) low adoption / availability of PayID / NPP for businesses.

The key “Jobs-to-be-done” when it comes to payment options is to get you paid as quickly as possible and to make it as easy as possible for your customers to pay you.

We’re working on a couple of features that will solve each of those problems you mentioned and will make it easier to do business and get paid, no matter where you are in the world! :slight_smile:

1 Like

Great news, thanks for letting me know!

1 Like

All of the above, however I can see Cryptocurrency gaining traction sooner than later. I’ve wanted to actually take payments in crypto, market isn’t quite that mature just yet though. Worth looking into! Take a look at Wirex as an example of how this could be done!

1 Like

Thanks @matksliwinski - agree with you, we’re watching crypto closely and will consider it its adds value to our members for their businesses. I’ll check out wirex :slight_smile:
For Crypto payments - did you want to take them mainly for local or international business transactions or both?
Appreciate that it can be useful for both, however, would love to dig deeper to understand the pain point / need you were seeking to solve by taking crypto payments