Why Your Small Business Needs an Alternative Payment Solution

Running a small scale business in Nigeria is very challenging. Every day, small business owners confront issues ranging from unfavorable government policies to high exchange rates in the market, amongst other pressing issues. However, a major challenge that still plagues small business owners is the issue of finding a payment processing platform that solves, if not all, but a large chunk of the major concerns shared by entrepreneurs, when it comes to accepting payment from customers.

Today, in the world of business, digital payment platforms have experienced massive growth. Small business owners integrate the services of online payment platforms into the financial operations of their business as a means of providing new and improved payment solutions that are reliable, secure and convenient for the business and customers. Although digital payment platforms support the smooth operation of a business, they are not void of issues. Security risks, processing costs and integration issues are a few payment processing challenges that confront small businesses.

When choosing a payment processing platform for a business, the most important thing to consider is how the services of your choice of payment platform best suits your kind of business. For the purpose of this article, I am going to be focusing on Vella and why your small business needs to use Vella.

Here’s why you should use Vella as your payment solution.

Whether your small scale business involves selling physical products in-person or online, Vella offers payment processing services that help increase productivity and enhance efficiency in your business.

Vella is a great payment solution that enables small business owners to accept payment from customers globally, pay the utility bills of your business seamlessly and send money to your suppliers in over 80 countries.

Below are a few reasons why you should use Vella in the financial operations of your small business;

1. A Secure Means of Payment: In modern businesses today, online payment platforms which are susceptible to fraud are integrated into the operations of a business. And that is why using a digital payment platform that guarantees security during every transaction is key. Integrating Vella into the financial operations of your business is a great way to protect your business and customers from fraud. Small businesses who adopt Vella as a payment platform can be sure of one thing - Every transaction is secure. With Vella, online transactions come with an added layer of security in the form of an email notification every time you log into your account, OTPs and your Vella Transaction Pin different from your regular banking pin. Buyer and merchant protection is 100% guaranteed during payment as Vella does not share sensitive information between both parties.
2. Accept Payment From Customers in Cash or Crypto: An important aspect that increases cash flow and contributes to the growth of a business is the ability to accept payment from customers without any hitch. Vella is an online payment platform that caters to the needs of small business owners when it comes to receiving payment. Whether your customers are based locally, internationally or both, Vella gives your business flexible payment solutions that help you receive payment with ease. With Vella, you can receive payment in cash or cryptocurrency from customers.
3. Pay your Merchants in China Quickly: As a small business owner, buying goods from other merchants is inevitable. The “common marketplace” for most business owners in Nigeria is China as goods imported range from hair to electronics to beauty products etc. And a common challenge faced by these small business owners is the steep exchange rate incurred on Chinese currency, Renminbi. Whether you are importing goods from China in small or large quantities, Vella is a simplified way to pay your Chinese merchants seamlessly. A major benefit of using Vella for your business is that you do not have to worry about high exchange rates or bank charges as the exchange rate for payment to China is cheap on Vella compared to other payment platforms. Another plus to using Vella is that both you and your supplier get to transact on a secure platform as sensitive information of both parties are protected.
4. Multiple Payment Options for your Customers: Customers love having options. They love a business that provides flexibility for them when it comes to making payment for a physical product or service. Choosing Vella as the payment solution for your business provides multiple payment options for your customers. Customers are not restricted to paying for products with cash only. With Vella, customers can pay for your products or services via cash, crypto or virtual dollar card. The beauty of Vella is in the fact that all payment methods attract low transaction fees.
5. No or Low Transaction Fees - Unlike Paypal that charges almost an arm and a leg for every transaction, Vella costs next to nothing per transaction. For small business owners who want a payment gateway that is cheap and void of hidden charges, Vella is the ideal payment gateway. An interesting thing to note is that transactions between Vella users are absolutely free.
6. Grow your Business - There are many ways to grow a business but integrating better means of accepting payment from customers is one of the fastest ways. As a small business owner, Using Vella as an online payment gateway for your businesses not only guarantees efficiency and productivity in the financial operations of your business, It also supports your small business in the course of reaching its full potential.

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