5 Smart Ways To Do Business In The New Cashless Economy

With the Indian economy going cashless, there are many opportunities for businesses to do new things and find new business avenues. A cashless economy is an economy which doesn’t use the traditional notes and coins as a means of trade. Instead, it uses cashless means or electronic means. So all the businesses, whether small or big, must prepare or they will not survive in the long run. So here are a few smart methods to do business in the cashless economy-

  1. Set up mPoS system

Debit and credit cards have been used to make payment for both goods and services for more than a decade now and with the economy going cashless, the same cards can be used for withdrawal purpose. So make sure you partner with the correct service provider and get your mPoS ready to accept payments directly into your bank account. Ensure that the mPoS you get accepts all the major credit, debit and prepaid cards around the world. Getting an mPoS from a company like Payworld can help you increase your sales!

  1. Set up a recharge point in your shop!

A recharge/bill payment service is a great way to attract walk-ins to your store. If you enable this service at your shop or retail outlet, you can help customers recharge their Mobiles/DTH and almost all the household bills can be paid online. The major advantage in doing so is to free the public from the inconvenience of long queues. Such services provided by Payworld will enable you to attract more customers into your shop. In no time, your customer base will increase considerably.

  1. Have a money remittance system

We have always thought of banks as the only way to remit or transfer money to a person or an account. The per day money transfer rate has been on the rise. With the economy going towards a cashless system, the number of money transfers through electronic means is expected to rise significantly in the coming years. One of the smart solutions offered by Payworld is to enable small businesses and retailers to incorporate money remittance services into their businesses. With the help of this service, the retailer can help customers /walkins to do money transfers from their shops itself. Having an advanced feature like this in your business will help you grow your business

  1. Provide e-commerce services

You can help your customers order products online and pick up at your outlet. This assisted e-commerce model will not only help you be a part of crores worth of e-commerce market, but will also get you more customers as they see your shop as the place to get anything from anywhere. In addition, you can offer travel services such as e-ticketing for train, bus, air and hotel bookings. You can tie up with a provider like Payworld and extend all these services to your customers.

  1. Train your staff

With the economy going cashless, many people will be forced to use a system they are not comfortable with to survive. Therefore it’s crucial for you and your employees to know how to operate all these payment services  which effectively help and guide your customers to use these services.

These tips will help you grow your business in this era of fast technological advancements. Join hands with Payworld to offer new-age services in a fast and efficient manner to your customers. Payworld has been helping retailers nation-wide to grow and earn more income. To join the revolution, sign up here: http://bit.ly/PwRegister 

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10 Replies to “5 Smart Ways To Do Business In The New Cashless Economy”

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