5 ways portable payments can help your tradie business grow
When you're a tradie looking to grow your business, you need the right equipment – and that includes having the proper payment system in place.
Sponsored by Tyro. Take your payments wherever you go with the Tyro Go EFTPOS reader*. Small enough to fit in your pocket, the Tyro Go is a fuss-free payments solution at an affordable price.
Portable payment systems can be one of the most powerful tools in a tradie's arsenal. Today, we're going to take a look at some of the reasons why.
1. Take on-the-spot payments
Cash flow is critical for any small business, but especially when you work in a trade. You've got supplies to buy, contractors to pay, wages for staff – and much more on top of that!
But there can be a big gap between when your expenses need to be paid and when your customers actually pay you.
This is where having a portable payment system – like Tyro Go – can come in handy. It means that you can take payments on-site1 as soon as the work is done.
Tyro Go is a mobile payment system that syncs with your smartphone1 via the free Tyro Go app. This means it can be easily used in a range of different settings.
It also easily fits in the palm of your hand, so you don't need to worry about needlessly bulking up your equipment load-out, either.
Most importantly, it can also cut down on the time required for chasing unpaid invoices each month. This can allow you to free up your time better for the big-picture tasks of growing your business.
2. Issue digital receipts
Having thorough records is essential for any business, no matter your industry. So investing in the future of your business also means investing in effective digital records.
It cuts down on paper waste and also provides easier accessibility. There's no more need to sort through rows of filing cabinets in order to find an old work order!
Having the right portable payment system can aid with this process more than you might realise. For example, Tyro Go is able to send branded receipts to your customers via email. There's no printing needed.
You can also review all your transaction records in the Tyro Go App or the Tyro Portal. Keeping a record of all transactions can prove advantageous for your bookkeeping tasks – but we'll talk more about that in a moment.
3. Accept many kinds of payments
As a service provider, it's important that you're able to accept payment in a range of different formats. So when you're picking a portable payment system, it's important to be aware of the types of payments it will accept.
Let's look at Tyro Go as an example. Currently, Tyro Go accepts most major cards like Visa, Mastercard®, eftpos, American Express and JCB. It also accepts digital wallets like Apple Pay, Google Pay, and Samsung Pay.
In practical terms, this means that customers can pay the way they want. It's more convenient for them and in turn leaves a better impression of your service overall.
4. Reduce your payment fees
Looking for ways to reduce costs is key to running a successful, long-term business. One of the places this can apply is with your transaction and payment fees.
With the right payment provider, you can reduce your costs in this area. In turn, this leaves more cash to be used elsewhere in the business. Over time, it can add up to significant savings.
Tyro Go supports Tap & Save (Least cost routing)2, helping you to save on eligible card transaction fees. In layperson's terms, Tap & Save will direct eligible contactless debit card transactions through the most cost-effective network.
5. Streamline your accounting
If you're not a professional accountant, bookkeeping and reconciliation can be a time-consuming chore.
Sure, you need to be across the figures. That's part of good business management. But you may not be the person best equipped to run them day-to-day.
So it's worth looking for ways to make it easier for both you and your accounting department. With the right payment provider, you'll be able to get an easy snapshot of your billings.
For example, Tyro Go provides you with access to Tyro Portal. From here, you can see all the transactions that have taken place and get a quick grip on your current finances.
You're able to easily export your transactions to your bookkeeping system. You can also create account-ready reports, which can be helpful at tax time.
Ultimately, the right payment provider means more streamlined processes. In turn, this means an easier time for everyone involved in the financial side of your business.
Learn more about how Tyro Go can help you grow your business
Sponsored by Tyro. Take your payments wherever you go with the Tyro Go EFTPOS reader*. Small enough to fit in your pocket, the Tyro Go is a fuss-free payments solution at an affordable price.
