How to expand the payment methods in your business?

payment methods
All businesses seek to have two things: customers and profits. The great thing about this dynamic duo is that they always go hand in hand; the bad thing is that, if one falls, surely the other will also do it.

This is important because many businesses don't pay much attention to profits; It is true that they are very focused on obtaining them, but they do not always plan how to do it. Let's make this clearer.

Suppose you have a bakery. Every day you open at 6 in the morning and you have ready an exquisite bread that awakens, with its delicious smell, the entire colony. As is to be expected, all your neighbors and the people who pass by your premises die of a whim and stop to try your product, but not all of them have cash and you only accept that form of payment.

All the people who have cash will be the lucky ones who will be able to taste your bread and fall in love with its taste, but the ones who do not have cash? Some will return the next day with their change ready in their pocket, but others will not be able to do so and may never return.

Although this was just an example, it reflects the importance of expanding the range of collection methods for your business; Not only do you risk losing the sale of the day, but you risk losing potential customers who you could retain with the quality of your business; In addition, the habit of electronic payment is adapting more and more.

Therefore, here we tell you which are the most common payment methods that you should have in your business, in addition to giving you options to acquire them without investing too much.

Point of Sale Terminal (POS)

The point of sale terminal (or POS) is a device with which you can accept payments by credit or debit card in your business. Surely you have seen them when going to restaurants, supermarkets or any established business, but you don't need to be a giant of the industry you work in to have one.

It is worth mentioning that there are two main options when talking about POS terminals: banking and mobile. Banking terminals, as their name implies, are provided by traditional banking institutions and are directly connected to them, while mobile terminals are managed by third parties and also allow you to make card charges.

One of the main differences between banking and mobile terminals is their hiring fee: while the banking terminals charge you a monthly commission and ask you for a minimum billing, the mobile phones only ask you to pay for the equipment and you don't have to go back to disburse a peso, plus hiring is much simpler and more agile.

Mobile terminals have a fixed commission per sale depending on the institution you go to (between 3.4% and 3.6%, all plus VAT) and you can get, from $ 350 pesos, the simplest models. Normally, you will be able to receive your winnings between 24 and 48 hours after the transaction is made.

There are many mobile terminal options, each with its own pros and cons, but all will allow you to accept card payments and catch those customers who do not have cash at the moment. Research all the options on the market and see which one is best for your business.


This is another option to receive payments from people who do not have cash. The transfer is made from the buyer's banking app and a certain amount is sent to the seller's account, all without physical contact.

One of the advantages of this method is the speed to carry out the transaction and the fact that it can be remote. However, to receive them you must have a bank account and know or have your data at hand, such as the card number or the CLABE account.

Among the disadvantages we have precisely the requested information: how many times has it happened to you that your CLABE account is shared badly or they send you blurry photos of your card so that you can make a transfer? In addition, depending on the bank, it will be the time it will take to validate a new account (sometimes it takes up to hours) for you to make a transfer, and some institutions charge a commission for each transaction.


The reliable old woman. It seems obvious to talk about cash as a payment method, but there are many businesses that no longer have it and we think it is a mistake.

Whether you have a fixed business or make deliveries, having cash (especially change) available will always be an advantage and will get you out of trouble when you least expect it. With this, you will not only make a profit, but you will give flow to the cash you receive and, most importantly, you will give your customer an incredible user experience.

Payment Leagues (Remote payments)

In this blog we have talked at length about the advantages of using paid links , but it never hurts to make a summary. I mean, in case there were any unanswered questions.

In short, payment links (or payment links) are electronic links that you can send to your customers with the intention that they make a payment (by various means) from wherever they are. Thus, you will not have to worry if they are hundreds of kilometers away or if they do not have the payment method you need at that time.

The ways in which your customers will be able to pay you vary depending on your link provider, but they are usually online charges using credit or debit cards. There are institutions that give you the option of making cash deposits at convenience stores, transfers by SPEI or even generating QR codes to scan and pay automatically, so find out well before signing a contract.

The advantage of this payment method is that you get rid of practically all the barriers that prevent your business from receiving profits: there is no physical contact, you do not need physical devices and you can be paid by card, transfer or cash; In addition, the commissions for each sale range from 2.5% + VAT to 3.6% + VAT.

Everything you need

With Oyster you can increase the collection methods of your business without investing more; Join and not only will you have an account for your business, but you will also be able to make and receive transfers 24/7 at no additional cost, you will be able to have your effect at all ATMs with your Oyster Mastercard and you will be able to use Oyster Link , the new way to collect remotely with one of the lowest commissions on the market.

Registering will take you less time than going to your bank branch (let alone the time it will take to get your shift taken) and it is completely free and online. Join Oyster , the financial platform for businesses that think big.