Before we launched a digital payment solution, we did a deep dive into the payment landscape, and what we found surprised us.

Perhaps one of the most eye-opening stats we uncovered was this: small businesses that offer more payment options increased revenue by 29%. While we’re not saying that having more payment options was the only reason for this increase, we do think that it played a significant role. After all, the easier your Payment Software makes it to pay, the more often you get paid!

Before you go out and sign up for every payment option under the sun, let’s identify the top four payment options that can move the needle for your business.

1. Mobile Payments

As the name suggests, mobile payments are payments that are made with a mobile device. The device is typically a smartphone, but it can also include Fitbits, smartwatches, and tablets.

Mobile payments work by allowing you to tap or place your phone on (or near) an NFC-enabled payments terminal. If that sounds like Greek, we’ll explain the concept further.

NFC stands for near-field communications. This technology uses a radio frequency to send information between your mobile device and the payment terminal. An NFC-enabled payment terminal looks very similar to a regular credit card terminal, but it will have a WiFi symbol on it to indicate that it can process mobile payments.

woman making mobile payment

For a customer to be able to use mobile payments, a few things have to happen. First, you need to have an NFC-capable system and terminal. Then, your customers would have to install a mobile wallet on their devices. There are a variety of mobile wallets to choose from, including:

  • Apple Pay
  • Android Pay
  • Samsung Pay
  • Microsoft Pay
  • And more!

The mobile wallet is an app that a customer installs on their mobile device. Once installed, they can add their credit or debit card information, and that data is stored securely. When it comes time for a customer to pay for a good or service, they can whip out their phone and tap it or place it on the NFC terminal instead of having to dig through their physical wallet and swipe a credit card.

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Weave Payments has replaced the majority of our monthly billing statements. And since we can bill {clients} directly through text, we save a huge amount of time billing them as soon as their balance is available, rather than spending three days a month billing in bulk.- Cambria, Office Manager

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Customers are flocking to mobile payments in droves, citing the following three benefits:

1. Speed – Mobile payments, also referred to as contactless payments, are faster to use than swiping a credit card or inserting a credit card with a chip. Processing times can take about one second, which is a lot faster than sluggish payment processors.

2. Convenience – In an independent survey, we discovered that only 36% of small business customers always carry cash. Further, the average amount that people carry is only about $80. As we move toward a cashless society, customers expect multiple payment options, and they don’t always bring their wallets with them (or they forget to bring it). Most people have their phones with them at all times, so being able to accept mobile payments is a boon for customers that do everything on their smartphones.

3. Security – Mobile payments are considered more secure than credit cards with magnetic stripes and chips that are often compromised. In addition to more advanced encryption, many mobile payment apps also require a fingerprint ID, which is one of the most robust security protocols available.

2. Text to Pay

It turns out that not only is texting taking over as a preferred communications method, but it’s also a popular way for customers to pay. A recent survey found that 35% of small business customers are interested in paying with a text from their phone.

We dug further into this study and found that many people would adopt texting as their primary payment method if they could. 30% of the general population said they would “frequently or always” pay with a text from their phone if they could. When you take into account millennial customers under the age of 35, that number more than doubles to 62%.


Offering your clients the ability to pay via text can enhance the customer experience in more ways than one. Convenience is just the tip of the iceberg. By giving your clients the ability to pay with a text, you can collect payment any time and from anywhere.

Instead of awkward face-to-face or phone conversations, you can text clients that they have a balance due and give them the option to pay with a secure link. You can customize the messages, and even send them on autopilot.

Have a customer with a balance that’s due in 48 hours? Text them a reminder! If they miss the payment deadline, send them a friendly text with details about the payment and invite them to call you if they have questions. Weave’s Text to Pay feature is even designed to support HIPAA-compliant communication, so it’s ideal for medical offices.

3. Credit Cards

It’s hard to imagine that any business in the year 2020 wouldn’t take a credit card, but Intuit found that 55% of small businesses don’t accept this basic form of payment. Given that 78% of Americans have at least one credit card, not allowing your customers to use this form of payment can be extremely restrictive to your business growth.1

The average business pays 1.4% to 3% for credit card processing fees. Though this number adds up, avoiding it by not taking credit cards altogether can be detrimental to your business. After all, would you rather sacrifice 3% of a transaction and pocket 97%, or would you rather receive $0 because the customer took their business elsewhere?


Assuming you do accept credit cards, it’s advisable to allow your clients to use them without charging a service fee. In our survey, we found that 71% of small business customers actively avoid businesses that charge them for using their cards. Despite this alarming stat, we found that 19% of companies do charge for this convenience. Don’t be that business!

4. Financing Options

Did you know that the most common objection when it comes to selling a service (even a medical procedure) is cost? According to one survey, six in ten buyers will ask about it during a call or first appointment. This can be particularly frustrating if the service you’re providing is essential or medically necessary.

However, it’s important to be sensitive to your clients’ financial situation and budgetary constraints. You can, of course, emphasize the features and benefits of deciding to contract with your office, but if the price of your services is out of reach, you’ll need to get creative.

Offering financing options is an extremely effective way to overcome price objections while also making your services more affordable.

By allowing your customers to use a payment plan to buy your services, you’ll be providing a more affordable option. This can be especially beneficial if your average cost for a service or procedure is relatively expensive, or your client base is not very affluent. By giving clients the option to pay over a period of time, you’re likely to increase your conversion rates and overall collections for your business.

The key to selling your financing options is to make them affordable and convenient. Consider low-interest or no-interest financing as well as flexible payment terms. For example, you could offer zero interest if your client pays the balance within one year.

To prevent your staff from becoming accounts payable czars, you can avoid collection headaches by sending automated reminders to clients and auto-debiting their monthly balances from their accounts. Another alternative is to provide a convenient payment portal that clients can use. You could potentially send a text or email with a secure link that clients can click on to submit their payment information.

If your clients don’t have banking information that they’re comfortable sharing, another option is for them to pay by check or in-person. Keep in mind that these payment methods are not as convenient for your staff or your clientele, but by having as an available option, you can attract more clients.

Not interested in playing the role of a banker or collection agency? Then you might want to consider using a Buy Now, Pay-over-time service like Sunbit. Weave and Sunbit have partnered to allow practices to easily offer customers financing options. This service allows your clients to pay for a variety of health and wellness services, including vision, hearing, dentistry, and even veterinary care for pets!

Clients love Sunbit and similar financing plans because it gives the option to finance their healthcare with low-interest payment terms that they can choose. Learn how you can start offering Buy Now, Pay-over-time flexible payment options today.


Are you accepting all the right payment options? Is it time to look at how you can modernize how you accept payments? Weave Payments launched in 2019, and it’s fast becoming the preferred payment solution for small businesses around the country. We invite you to schedule a live demo today.