How the choice of payments system can help you through the crisis
March 23, 2020
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
Disclaimer
Monoova Payments Pty Ltd (ABN 38 126 015 227) trading as Monoova (“Monoova”) is the authorised representative of Monoova Global Payments Pty Ltd (ABN 77 106 249 852; AFSL No. 421414 ), the issuer of the Combined Financial Services Guide & Product Disclosure Statement Non-Cash Payment Products and Services dated 20 September 2023. (FSG/PDS). This information is given in summary form and does not purport to be complete. To the maximum extent permitted by law, Monoova does not assume responsibility for, the content, accuracy or completeness of the information presented. Before acting on any information you should consider the appropriateness of the information having regard to these matters and seek independent legal, financial and tax advice. To the extent that the information contained above is sourced from third parties or provides link to third party websites, Monoova takes no responsibility for the accuracy, currency, reliability and correctness of any information included in the material provided by third parties nor for the accuracy, currency, reliability and correctness of links or references to information sources (including internet sites) operated by third parties.