Cashflow is king, so I want to give you some quick tips that you can immediately implement into your business. There are many reasons why your customers do not pay in the required time frame so we want to give them every opportunity we can to fork out some cash. One of the easiest ways of doing this is by offering multiple payment methods and this is usually the first strategy I get business owners to action because it is a very quick process to implement and can reap immediate results.

In the past, most transactions were handled via cash or cheque. In the USA they are still very engrained in using these two methods. However you can now jump on the internet and quite quickly be in a position to provide alternative methods that may better suit your client. The point being, if it suits them better, you’ll get your cash quicker.

Here are a variety of payment options you can provide, some obvious, some not. If you are using Xero (you should be!) then most of these methods can be easily included in your invoices so the client can open the invoice, click a payment method and pay.

  • Cash
  • Cheque
  • Electronic Funds Transfer (EFT i.e. online banking)
  • BPay
  • Credit card
  • Paypal – clients can pay either using funds in their Paypal account or use their credit card
  • Bitcoin – this is one for you tech-heads
  • Direct Debit/Credit
    • if you have clients on a subscription basis then a recurring direct debit/credit can be facilitated by:

To give you an example, I use Stripe in my business for credit card payments because it is easy to setup online and it integrates nicely with Xero. What this means is that it inserts a little link in each invoice like this:


stripe payment option in xero


When someone clicks this link it will open the invoice in their browser and they are then presented with a cool little pop-up window to process their details:

 stripe payment window in xero

Because the process is very smooth and can be completed in a couple of clicks it makes it fun. This is something they call “gamification” in the tech space. Take Xero for example, they have taken something super boring, accounting software, and made a beautiful user interface with amazing functionality with colours that pop and it almost (just almost) makes accounting fun. Well I think it’s fun.

So if you aren’t offering a mainstream payment option like credit cards or if your strategy is to move to a subscription business and you are in need for a direct debit/credit facility, check out the above as they are all easy to implement and will get you some cash in the door a lot quicker.

If there is a method or supplier that I haven’t mentioned, please let me know by commentating below!

Brad Turville

Brad Turville

Director @ BJT Financial | Helping private businesses fast track their business growth through big firm expertise and boutique firm service.