BUx-Blue-Logo

Common payment collection challenges - and how to solve them

Congratulations! you built your business, and it’s growing more and more every day. You have a steady cash flow for yourself and room to expand soon. There’s a lot to be optimistic about, and it’s time to look ahead for your business growth.

With the goal of a large influx of customers, many challenges come with it. Tracking and managing all your new sales are just a few of the many possible issues that would arise. BUx can quickly solve many payment collection problems with a single sign-up. Here are common issues businesses experience during their gradual growth.

Problem: Too Many Payment Channels are needed.
Our solution: Offer 30 payment channels with BUx using a single link

Our previous blog presented the benefits of offering multiple payment options to grow your business. But where to start? Which payment channel is best? Which payment channel is best for my customers and potential customers? After answering these questions, you’ll ask yourself, Do I have to open an account for every option? How many applications will I need to make?

Worry not because we have the solution. With BUx, you can offer multiple payment options to your customers without any hassle on your end. BUx can provide all the payment options you want and more in a single link, QR Code, or checkout page. Offer online fund transfers, card payments, installments and Buy Now Pay Later. You may also offer over-the-counter prices with 60,000+ payment locations nationwide.

Problem: Hassle Payment Tracking
Our solution: BUx’s Real-time Dashboard

Let’s say your business has three payment options and six payment channels.

  • Banking (Payments via BPI or BDO)
  • E-wallets (Send payments via GCash or Maya)
  • Over-the-counter (Money transfers via Cebuana Lhuillier or Palawan). 

 

If you’re in this situation, for payments done in banking, you would need to check each account to see if it was sent and note it on a personal spreadsheet to manage the tracking of payments. If it’s from e-wallets, you need to log in, track via text messages, and note it on a personal spreadsheet to manage and track. If they pay by sending through pawnshops, you will personally need to go to a branch and receive the money. Isn’t that a hassle? Imagine all the time businesses use to track all the payment options and more time needed to consolidate your received payments.

Worry less about tracking payments, as BUx offers the best dashboard for real-time sales reports. Forget about manually managing multiple platforms. Track paid and pending charges, download payout summaries, receive real-time notifications of funds credited, and more using your BUx dashboard.

Problem: Are my payments secured? What if I get scammed?
Solution: BUx’s fraud detection tools

Has this ever happened to you? Have you received proof of purchase for one of your items that was fraudulently made? Many businesses are now left thinking the item was paid. What if the person uses a card or an e-wallet that wasn’t theirs? Many companies are given losses due to these kinds of fraudulent practices. With a growing number of customers in your business, there’s bound to be a customer with bad intentions. How to avoid these kinds of customers?

Remove any worry about fraudulent practices; your payments are secured with BUx. While using the platform, partners are assured of safety measures on their end as the platform has embedded fraud detection tools. With this set, you can have less time worrying about your payments and more time focusing on your business.

Avoid all of these problems with BUx. Offer 30 different payment channels to your customers through a single link, QR code, or checkout page. Avoid the hassle of tracking payments using BUx’s real-time dashboard, and be assured that your payments are safe and secured with BUx’s anti-fraud tools embedded in the platform.

SHARE ARTICLE

Share on facebook
Share on twitter
Share on linkedin
Share on email