How the choice of payments system can help you through the crisis

March 23, 2020

July 7, 2022

The Coronavirus is forcing us to adapt to new ways of going about our every day, at least for a while. Now more than ever, small businesses need to lower overheads, improve cashflow and look after the health of their customers and staff. How can improving your payments process help achieve this?

What you can do as a customer
Support your local business and help protect them from the virus. Set up digital payment methods such as Apple Pay or GooglePay to pay at restaurants and cafes when ordering takeaways, without needing touch and transfer germs between devices. These digital wallets generally don’t require actual tapping. It’s enough to be within centimeters of the terminal for the payment to work and no PIN is required.

What you can do as a business
If your business takes cash on delivery, ensure you have set up your PayID to receive your money instantly without actually using cash. With casual workers at risk of losing income, ensure you are set up to get paid at the time when you need it, no waiting.

What is Pay ID?
PayID is a simple service that makes paying money into your account easier. You can create a PayID by choosing something easy to remember, like your phone number, and registering it with your bank. This means you do not have to share your BSB and account number, simply share your PayID.

How can it be set up?
Simply register your PayID with your bank