The Appeal of Cash-Based Payment Options

Posted by: Rod Kurtz on March 21, 2008

According to a survey conducted by eBillme and Market Platform Dynamics, 64% of small businesses shop and bank online. Convenience and the ability to compare prices make online shopping an attractive option for small business spending. It is important for small businesses to have the ability to monitor and track employee spending and manage credit limits. Many small businesses operate in the world of cash, and do not have access to corporate credit cards or extended lines of credit that are available to larger organizations.

There are cash-based payment options for online checkout, like eBillme, that allow small businesses to buy online and pay securely with available cash in an online bank account. These options do not require any credit or the release of any financial information over the Internet, minimizing the risk of fraud and offering more safeguards and protection. Secure cash transactions initiated using online banking also provide more control over the purchasing process.

Our service works like this: After a purchase is made, an electronic bill (we call it an "eBill") is sent to the buyer, which can be submitted to accounts payable to approve, release the funds, and track. These payment options also have direct integration with accounting software, so all of the purchases and eBills received and paid can be tracked and easily integrated into the overall budget. Small businesses should consider online banking payment alternatives as options to better control their spending and complement their business needs.

Marwan Forzley
President and CEO
eBillme
Wilmington, Del.

Post a comment

 

About

Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.

To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.

BW Mall - Sponsored Links

Buy a link now!