Three key ways to implement Pinch to completely eliminate late payment in your service business.
Fundamental 1 - Turning Late Payers into Autopayers
With Pinch, you have the ability to effectively convert late payers into autopayers by utilizing a simple process. When you are in the process of chasing a late payment, open Pinch and take advantage of its features. Through Pinch, you can securely collect payments over the phone by utilizing your customer's card or bank details. Additionally, you can also opt them into pre-approvals during this time. It is important to note that this particular moment is the ideal time to make such requests, as customers are already late with their payment and may feel a sense of obligation to fulfill their financial commitment. By offering this option during the late payment chase, you maximize the chances of turning them into autopayers, ensuring a smoother and more consistent payment process.
Fundamental 2 - Capture Payment Details At Onboarding
To ensure timely payments from your customers, Pinch offers a useful feature called the New Customer Pre-Approval Sign Up Link. By utilizing this feature, you can effortlessly capture payment details from your customers before you even start working with them. This proactive approach helps you avoid any potential overdue payments right from the beginning.
To access this feature, simply navigate to your account settings and locate the pre-approval settings. Within this section, you will find the New Customer Pre-Approval Sign Up Link. By sharing this link with your customers, they can securely provide their payment details, such as their card or bank information, before you even begin providing your services.
By capturing payment details upfront, you establish a strong foundation for a seamless payment process. This eliminates the need to chase late payments later on, saving you time and reducing any potential friction with your customers. Moreover, it enables you to initiate the autopayment process, ensuring that your customers can conveniently fulfill their financial commitments without any delays.
By implementing this best practice, you can significantly enhance your cash flow and minimize any disruptions caused by late payments. It sets the stage for a smoother and more consistent payment experience, benefiting both you and your valued customers. So, make sure to take advantage of Pinch's New Customer Pre-Approval Sign Up Link to streamline your payment process and eliminate overdue payments from the start.
Fundamental 3 - Waive Surcharging On Pre-Approval
Pinch offers a convenient surcharging option that allows you to automatically absorb the transaction fee if the customer is on a pre-approval. This means that when customers make a payment through the invoice pay now link from Xero, QuickBooks, or MYOB, they have the option to opt in and pay without any additional fees.
To take advantage of this feature, simply switch it on in your account settings. Once activated, make sure to update your invoice communications to inform your customers about this option. By removing other payment methods entirely, you can ensure that your customers recognize that the only way to avoid fees is by going onto pre-approval.
This transparent approach not only simplifies the payment process for your customers but also encourages them to opt for pre-approval, eliminating any uncertainties or potential frustrations associated with additional charges. By clearly communicating this information and providing a seamless payment experience, you can foster trust and loyalty with your customers.
So, remember to enable the surcharging option, update your invoice communications, and remove other payment methods to make it easy for your customers to pay without any fees. By doing so, you can promote a smoother payment process and strengthen your relationship with your valued customers.