To help speed up payments, we’ve teamed up with PayPal. You can now add card payments as an option to your invoices.
Getting paid on time is a real challenge for self-employed people and small business owners.
In 2018, the estimated value of late payments in the UK was £13 billion, with 43% of SMEs struggling with late payments. And not just late, but really late. Many invoices were paid more than 2 months after the agreed due date.
Delays often come down to a client’s internal processes around bank transfers rather than ill intent.
So to help speed up payments, we’ve teamed up with PayPal. From this week you can add card payments as an option to your invoices.
Instead of having to set up a new payee in their bank account and wait until their next payment run, clients can now pay you straight away using their credit or debit card details. Or if they have a PayPal account of their own, they can pay using that too.
Good news all round. Not only for your cash flow, but also for boosting your professional image, and for security if you’re worried about sharing your bank details.
To turn on the option to accept card payments through PayPal, you’ll need to create a new invoice. (No invoices to send at the moment? You can always make one up and delete the draft afterwards.)
You’ll also need to connect a PayPal account. (Don’t have one? Simply follow the prompts in the Coconut app to create one, outlined below.)
Here are the steps in detail:
To learn more, check out our help centre articles about this integration.
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