Electronic Payment Options

In today’s world, an accountant or bookkeeper must be much more than a traditional bean counter to build and maintain a competitive advantage. In addition to core services such as financial statements, payroll and taxes, many business owners look to their accounting and bookkeeping professionals, as a valuable source of knowledge and expertise. It’s a great opportunity to introduce value-added services to supplement your services.

What are Value-added services?

Value-added service (VAS) is a term for all non-core services. It is a complimentary range of advisory and consulting services that go beyond core, yet are available at little or no cost to promote your accounting / bookkeeping business. Your competitors may not easily offer comprehensive services. VAS allows you to differentiate your accounting / bookkeeping business and removes the pressure of competing solely on the lowest price. VAS is all being more profitable in your business, by offering unique solutions that your clients need to run their company more successfully.

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A three part series on “going electronic” with your business payments.

Switching from cheques to electronic payments for most businesses is definitely the way to go. In order for accounting professional to help prospects and clients find the right payment solution, it is important to understand how other electronic payments work in comparison to Telpay.

Over the next three articles, I will reveal many key points of going electronic that I encourage you to share in your sales presentations. In my last article, I will compile everything together to create a checklist, that you can reference to help transition your clients to electronic payments.

Before I begin, let’s clarify: What does it mean to go electronic? I am referring to the solutions that are designed to replace regular cheque or credit card business payments.

Most often, people think of the following payment options:

– Online banking
– Bank electronic funds transfer (EFT)
– Third party electronic payment solutions: Telpay, PayPal, etc.

To keep it simple, I am going to keep the conversation between Telpay and bank solutions. There are other options (i.e PayPal) but most do not work without costly credit cards. Many businesses are encouraging their customers to pay by EFT, to save on the rising costs of credit cards, which is why Telpay is becoming important in the Canadian payments landscape.

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Tag Archives: Electronic Payment Options

Set Yourself Apart With Value-Added Services

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