The Appeal of Cash-Based Payment Options
According to a survey conducted by eBillme and Market Platform Dynamics, 64% of small businesses shop and bank online. Convenience and the ability to compare prices make online shopping an attractive option for small business spending. It is important for small businesses to have the ability to monitor and track employee spending and manage credit limits. Many small businesses operate in the world of cash, and do not have access to corporate credit cards or extended lines of credit that are available to larger organizations.
There are cash-based payment options for online checkout, like eBillme, that allow small businesses to buy online and pay securely with available cash in an online bank account. These options do not require any credit or the release of any financial information over the Internet, minimizing the risk of fraud and offering more safeguards and protection. Secure cash transactions initiated using online banking also provide more control over the purchasing process.
Our service works like this: After a purchase is made, an electronic bill (we call it an "eBill") is sent to the buyer, which can be submitted to accounts payable to approve, release the funds, and track. These payment options also have direct integration with accounting software, so all of the purchases and eBills received and paid can be tracked and easily integrated into the overall budget. Small businesses should consider online banking payment alternatives as options to better control their spending and complement their business needs.
Marwan Forzley President and CEO eBillme Wilmington, Del.