A common gripe among start-ups and small businesses is the issue of payment.
Old Eftpos systems can be clunky and unreliable – not to mention slow. And there's cash - do people still carry that? And let's not even get started with cheques.
Westpac New Zealand has clued up on this, and released a solution that consists of your smartphone and a Westpac NZ issued card reader. It connects to your phone via Bluetooth and then through the ‘Get Paid' app (on both Android and Apple) manages transactions, freeing up owners to manage their businesses on the go regardless of time or location.
According to Westpac NZ chief product officer Shane Howell, the Get Paid app is simple to set up and easy to use, allowing small and medium businesses to work flexibly to conduct business where their customers are. Once interested business owners receive the card reader and download the app, they're literally good to go and get paid.
“We've noticed that cash usage has reduced significantly with many people preferring to use mobile payment methods to buy things. This is an exciting area where emerging technology enables us to give our small to medium business customers the freedom to conduct their business quickly and efficiently, wherever they are,” says Howell.
“Small business owners are often pressed for time and they need flexibility with where and how they take payments, without the drawback of high fees. Get Paid has been designed for business owners who want to be able to receive a payment immediately after a product or service has been bought, without adding to their paperwork.
Westpac NZ assures there is a simple pricing structure that enables business customers to work anywhere within the country, in addition to being able determine different levels of access for staff members on their own phones.
Less cash means less handling and more time to do other ‘exciting' banking things like reconciling accounts.