Going cashless is more than accepting payment online (This is how we solved the REAL problem)

(Last Updated On: August 29, 2016)

Small businesses and startups are the lifeblood of any economy of the world. Yet, one of the major challenges of these businesses is receiving payment from their customers through cash and bank payment. Today, the challenges have been reduced in part, thanks to adoption of the “cashless” initiatives.

However, what most people might not tell you is that the cost of going cashless for small businesses is not CHEAP. For example, if you have been running a small business in Nigeria for a period of time, you would probably have experienced how costly it is integrating multiple payment gateways and customizing each of them to your requirements.

As well, there are other “hidden costs” or services you have to pay for just to be able to say that your business is now “cashless-compliant”. This is because the needs of startups and SMEs goes beyond sending and receiving payment. That is why the choice of the online payment gateway you choose determines how cost effective it will be for your business in the long run.

You may want to see the “How VoguePay works” video to get this message. 

In addition to helping businesses accept payment, VoguePay has a robust solution for managing store performance, tracking sales and inventory as well as other business intelligent tools. 

Integration with other other third-party tools.

For many small business owners and freelancers; they have limited financial and technological resources to integrate payment gateways with their existing website infrastructure. That is why VoguePay created several free plugins, modules and extensions to make it easy to integrate VoguePay with any website. Some of this include Joomla, WordPress, IceCube Cart. The full list can be found here.

developer tools

Accepting payment from international customers

In addition to locally accepting and sending payment, both personal and business account owners can enjoy the privilege of international transactions, making it possible for businesses and startups to accept payment from international clients and have it settled in the local currency of the merchant.

Thus, it becomes possible for a merchant in Ghana to list products on her website for someone in China to buy. The buyer can make payment in his own currency (an equivalent of the local price set by the seller) while the seller gets credited in his local currency. Another use case is that non-government organizations (NGOs) that solicit for donations from international partners can use VoguePay to accept donations from an Indian or UK donor agency and receive a Naira equivalent of the money right inside their VoguePay wallet. For many businesses, this will eliminate the huge charges associated with wire transfer services

Access To Business Intelligence And Product Management Tools, for FREE

Migrating your business online might pose some challenges. For example, some of the accounting and inventory functions you manage to easily do offline with your pen and paper are difficult to automate online without the need for additional business intelligence tools. You don’t have to worry about that anymore since VoguePay makes all these store intelligence tools available for every account, for free.

Take for example, a University that is making use of the “multiple store” function of VoguePay for school fees collections. The students pay into a single account but each of the various dues and departmental fees will be allocated to their respective “purses” for ease of accountability.

Split payment

It is easy to set up things like this on VoguePay and there are several other business tools to help you sell digital products (like PINs, ebooks, vouchers etc), create affiliate/referral programme and even send or receive money via payment links that work on WhatsApp, email or Facebook etc.

You can Sign up to open a FREE account on VoguePay today.

(A version of this post originally appeared here)

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.