How to Collect Payment from Customer | Small Business Guide

Published: Apr 17, 2024

The trend towards digitalization has led to an increased demand for efficient, reliable, and cost-effective payment and Point of Sale (POS) solutions. This shift is driven by factors such as convenience, cost-effectiveness, speed, data analytics, security, adaptability, and some aims for global reach. Small Businesses are adopting digital payment and POS solutions to improve operations and meet customer expectations, a trend expected to continue and always on the lookout for the golden question: How to collect payments from customers seamlessly?

With the rise of digital solutions like Peddlr, collecting payments has evolved from traditional methods to innovative, fast, and secure transactions. This guide will explore how small businesses can leverage these changes, not just to survive but to thrive in today's economy.


The Landscape of Digital Payment and POS Solutions for Small Businesses in the Philippines

In the Philippines, the digital payment and POS solutions landscape for small businesses is diverse and evolving, driven by technological advancements and the growing demand for convenient and efficient payment methods. 

Here's a breakdown of the key components and the challenges they pose: 

Mobile Wallets 

  • Examples: GCash, Maya, Coins.ph 
  • Benefits: Easy to use, supports various transactions, offers additional features like bill payments. 
  • Challenges: Reliance on internet connectivity, transaction limits, fees, and security concerns.

Online Banking 

  • Examples: BDO, BPI, Metrobank, Landbank 
  • Benefits: Facilitates seamless bank transfers, bill payments, and payroll processing. 
  • Challenges: Potential downtime, complex integration with other business systems. 


Standalone POS Systems 

  • Examples: Payo POS, POSIBLE, StoreHub 
  • Benefits: Comprehensive sales and inventory management features, can collect multiple payment methods.
  • Challenges: High initial setup and hardware costs, limited customization, and integration capabilities.


E-commerce Platforms 

  • Examples: Shopify, WooCommerce, Lazada

  • Benefits: Integrated payment solutions, supports various payment gateways.
  • Challenges: Transaction and platform fees, technical expertise required for customization and integration.


Payment Gateways 

  • Examples: Dragonpay, Pesonet, PayMongo, InstaPay 
  • Benefits: Enables online payment processing for various methods, provides security. 
  • Challenges: Transaction fees, technical development for integration. 


Scan to Pay via QR Code 

  • Benefits: Low-cost setup, convenient for contactless payments. 
  • Challenges: Requires compatible mobile wallets, limited to in-person transactions. 


Digital Banking and Neobanks

  • Examples: ING, CIMB, Tonik, Seabank
    Benefits: Convenient online banking services, competitive interest rates.
  • Challenges: Limited physical presence for in-person services.


Common Small Business Challenges 

  1. Integration Issues: Difficulty integrating different digital payment and POS systems with existing business software. 
  2. Costs: Accumulating transaction fees, subscription fees, and hardware costs.
  3. Security Concerns: Ensuring the security of digital payment systems to protect customer data.
  4. Dependence on Internet Connectivity: The need for reliable internet access for many digital payment solutions.
  5. Multiple Platforms Management: The complexity of using multiple platforms to manage different business operations.

Must-Have Features in Today's Digital Payment and POS Systems in the Philippines 

In the Philippines, the digital payment landscape is rapidly evolving, with a growing number of businesses and consumers embracing cashless transactions. The adoption of digital payment and Point of Sale (POS) systems has become crucial for businesses aiming to thrive in this changing environment. 

Here are the must-have features for modern digital payment and POS systems in the Philippines: 

  1. Seamless Integration with Local Payment Methods - POS systems should support a variety of payment options popular in the Philippines, including Peddlr kankolek, GCash, Maya, and other local e-wallets, and mobile bank payments. 
  2. Philippine Peso Currency Support - It's essential for the POS system to support transactions in the local currency, the Philippine Peso (PHP), to simplify pricing and accounting for both businesses and customers.
  3. Localized User Interface - A user-friendly interface with support for Filipino and English languages can enhance usability and accessibility for both employees and customers.
  4. QR Code Payments - QR code payments are becoming increasingly popular in the Philippines. A POS system that supports QR code scanning for apps like kankolek, GCash and Maya can offer a quick and contactless payment option.
  5. Internet Connectivity Adaptability - Internet connectivity may be inconsistent in some regions of the Philippines. POS systems with offline functionality or those that can smoothly transition between online and offline modes are crucial to ensure uninterrupted operations.
  6. Mobile POS (mPOS) Capabilities - The mobility offered by mPOS systems is particularly beneficial for businesses in the Philippines that operate in various settings, such as markets, food parks, and pop-up events. Peddlr is by nature a mobile POS application both available for android and iOS.
  7. Security Features - Given the rise in cyber threats, security features such as encryption and two-factor authentication are vital to protect sensitive data and build customer trust.
  8. Inventory Management - Accurate inventory management is essential for businesses to keep track of stock levels, especially for those dealing with a wide range of products.
  9. Scalability - As businesses grow, their POS systems should be able to accommodate new branches, products, and payment methods without requiring a complete overhaul.
  10. Customer Support - Reliable customer support is important for addressing technical issues and ensuring the smooth operation of the POS system.


Peddlr: The All-in-One Solution for POS and Payment Collection for Small Businesses 

In today's competitive market, small businesses need a reliable and efficient way to manage their operations, from point-of-sale (POS) transactions to how to collect payment. Peddlr stands out as an all-in-one solution, offering a suite of free features that cater to the diverse needs of small businesses. Let's explore the features of Peddlr and how it can help businesses diversify and grow. 

All-in-One Solution for POS and Payment Collection for Small Businesses


Easy-to-Use POS System

Peddlr's POS system is designed for simplicity and efficiency, allowing businesses to process transactions quickly and accurately. It's ideal for all types of micro, small and medium enterprises or businesses. 


Peddlr kankolek

Peddlr kankolek is a feature within the Peddlr app designed for small business owners and entrepreneurs. Kankolek allows businesses to easily accept all types of payments from customers using QR codes. Customers can easily scan the QR code provided by the business and pay using their preferred digital wallets or mobile banking apps.  

 

Notable Benefits of Using kankolek

  • Convenience. Customers can make payments quickly and easily by scanning the QR code, enhancing their overall shopping experience.
     
  • No Wallet and Transaction Limit. Receive any amount of money in your digital wallet and enjoy unlimited hassle-free transactions.
     
  • PDIC Insured. Funds deposited are protected by the Philippine Deposit Insurance Corporation.
     
  • Cost-Effective. Cuts the cost of payment processing hardware and waives transaction fees for small businesses, with customers covering these fees instead.

  • Earn Extra Income. Small business owners earn extra money for every transaction made via QR code.

  • Enhanced Security. Digital payments are more secure than cash transactions, minimizing the risk of theft and fraud.

  • Improved Cash Flow. Faster payment processing means quicker access to funds, improving cash flow for the business.

  • Record Keeping. Automatic recording of transactions simplifies financial management and helps in maintaining accurate sales records.

  • Inclusivity. By accepting digital payments, businesses can cater to a wider range of customers, including those who prefer cashless transactions. 


How to Collect Payment with kankolek 

  1. Install Peddlr and activate kankolek account 
    • Once you've installed the Peddlr POS system, you can activate the kankolek feature at no extra cost. 
    • You will need to complete a few forms and go through an easy verification process, like opening a bank account. 
    • Once completed, you will have your own bank account number created with Peddlr’s partner bank, Netbank PH. Your new account number can now be used for bank transfers.

  2. Collect payment through kolek QR 
    • Enter the amount to be paid. 
    • Generate a QR code for each transaction. 
    • Share the QR code online or show it to customers in person.
       
  3. Download and print QR code 
    • Download the generated QR code just once. 
    • Display the QR code in the store. Be strategic where you place your QR code.
    • Customers scan the QR code and enter their payment.
       
  4. Review Payment
    • Small business owners will receive confirmation via text message from Peddlr or they can simply view transaction history after the payment.  


Inventory Management

Keep track of your stock levels, manage product categories, and ensure you're always ready to meet customer demand with Peddlr's inventory management tools. 


Stock and Sales Reporting 

Gain insights into your business performance with stock insights and sales reports, helping you make informed decisions to manage inventory and drive growth. 


Online Store Integration 

Expand your reach by setting up a free online store with Peddlr. This feature allows you to sell your products online, reaching a wider audience and increasing sales opportunities. Read our guide on how to start an online store for free.


Opportunities to Diversify Your Business with Peddlr's Free Features 

Seize the chance to transform your business with cutting-edge solutions that not only enhance your revenue but also offer added value to your customers. By adopting innovative technologies and services, you can streamline operations, improve efficiency, and expand your offerings. This proactive approach not only positions your business for growth but also strengthens your competitive edge in the market. 

  1. Sell E-load - With Peddlr's e-loading system, you can offer mobile prepaid load and other e-products to your customers, providing them with convenience and adding an extra revenue stream to your business. 
  2. Bills Payment - Enable your customers to pay their bills at your store, making it a one-stop-shop for their needs and attracting more foot traffic.
  3. E-renta - Utilize your store's ad space by listing it for brands to post their marketing collaterals. This innovative feature allows you to monetize your store's visibility and collaborate with other businesses.


Wrapping Up 

Peddlr shines as a comprehensive solution for small businesses, offering streamlined process to collect payment alongside advanced POS capabilities. This platform simplifies transactions and sales management, fostering operational efficiency and business growth. With its no-fee policy for business owners and secure, customer-friendly transactions, Peddlr empowers businesses to improve service and make data-driven decisions. By leveraging Peddlr's full suite of features, businesses can enhance their operations, from payment collection to inventory management, positioning themselves for success in today's competitive market. 



What is Peddlr? 

Peddlr is a POS mobile application for all business owners – sari-sari stores, milk tea stands, coffee shops, Shopee and Lazada sellers and more. It's free to download, free to use, and works even without an internet connection. With Peddlr, you can easily manage and track your business performance and inventory. 

Here are some of the useful features that you can access through the Peddlr app: 

  • FREE Point-of-sale system (POS) or a mobile cashier system 

  • FREE Credit Reminder – send SMS to your customers for free to collect credit/debts easily 

  • FREE Inventory Manager/Tracker - take control of your product inventory 

  • Loading and Bills Payment Services – enjoy rebates and cashback 

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