Business Payment Methods Essay

At this time of building my business I need to consider the ways in which I will name into account my customers to pay for the books that they buy from my book store. Today there argon a full(a) array of honorarium solutions available for any buyer of goods and run and to buy books, almost all modes of payment available can be used by the customer whether it is electronically or by hire use of card at the shop or by compensable in cash. If the customer is regular and can be trusted or is a regular bulk customer, check payments can also be accepted.In prognosis of the competitions in the deal of books I have to take some element of risk in this regard in belongings with the business practices. For direct sales at the store a wide choice of payments are available to the customer. He can pay in a flash in cash or by credit or debit entry card. I believe cash payment has the least hassles applicable as the money has already come in the moment a sale is done. In the ase of deb it and credit cards a wide brim has to be provided for without any applicable discounts since a percentage of the sale number has to be given to the financial institutions as part of the applicable billing for use of their services.The business of electronic payments is growing rapidly in view of the convenience involved and a wide array of payment options are available which are acceptable in the case of my book store. In addition to the tradition card payments other options are also cceptable to me much(prenominal) as mail order, online payments, acquiring bank payments and through payment bureaus.I understand that as long as a sale is victorious place I can accept 2 any of these payment modes provided the financial institution is reputed to make fast payments and is reliable for its transparency in fair dealings. In such cases I may have to stretch my margins a little, but that is ok since most businesses work on volumes and thusly I can make up on the low margins.