Running a small company requires not only providing excellent goods or services but also ensuring that you are paid on time. Cash flow is the lifeblood of every small to medium-sized business, and late payments can create major problems. If you’ve ever had to chase down a customer for late payments, you understand what I mean. In 2025, it’s more important than ever to streamline your payment processes. Here are some strategies on how to get paid faster in 2025.
In 2025, companies will have more options than ever to expedite the payment process. One of the most effective? SMS payments. In this tutorial, I’ll take you through the best tactics for being paid quicker, including mobile payments, automation, and follow-ups.
Why Are Payments Delayed?
Before we go into remedies, let’s go over why payments are delayed in the first place:
- Customers forget – People are busy and forget to pay bills, particularly when there is no simple method to do so.
- Complicated payment methods – If clients must go through many steps or log into a system, they may put it off.
- Lack of reminders – Many organizations do not follow up often enough, resulting in needless delays.
- Payment method limits – Some clients prefer to pay by text or mobile, but companies do not provide these alternatives.
Now that we’ve identified the difficulties, let’s look at potential remedies.
1. Use SMS Payments for Instant Transactions
SMS payments are a major changer for small and medium-sized businesses. Rather than waiting for a customer to check their email or log into a portal, you may send a payment link to them by text message. This is why it works so well.
- SMS texts have a higher open rate than emails, at 98%.
- Convenience: Customers may pay with a single touch on their phone.
- People respond far quicker to SMS than to emails.
I began accepting SMS payments in my own firm last year, and the difference was night and day. Instead of chasing down bills, I’d send a simple SMS, and payment was received within minutes.
2. Provide many payment methods.
Customers have varied payment preferences, so restricting your alternatives might slow things down. Mobile payments, credit cards, ACH transfers, and digital wallets should all be considered.
Best Payment Options for SMBs
- Mobile payments allow customers to pay instantaneously using their phones.
- Credit and debit cards are a must-have for convenience.
- ACH bank transfers are ideal for big transactions.
- Digital wallets (Apple Pay, Google Pay) are fast and secure.
Adding these alternatives guarantees that your consumers may pay in the method that is most convenient for them.
3. Automate payment reminders.
If you’re still manually sending reminders, it’s time to modernize. Automation allows you to follow up without spending hours chasing customers. A decent online payment solution for small businesses should enable you to:
- Send automatic reminders via email and SMS.
- Create recurring billing for repeat consumers.
- Notify you if a payment is late.
I used to send reminder emails manually, but since automating, payments have come in 30% quicker with far less work.
4. Establish clear payment terms beforehand.
One mistake I made early on? Not being strict about payment conditions. The invoice should explicitly state:
- Payment due date (for example, “Payment is due within 7 days”).
- Late fees (as appropriate)
- Accepted payment methods
Setting these expectations up front avoids misunderstandings and lets your customers know you’re serious about timely payments.
5. Encourage early payments.
Do you want your consumers to pay you faster? Give them a cause to. Try offering:
- A slight discount applies to payments received within 24-48 hours.
- Clients that consistently pay on time get loyalty rewards.
This tiny incentive may have a significant impact, particularly if late payments are typical in your company.
6. Follow Up Consistently (But Politely).
Everyone dislikes pursuing payments, yet it is occasionally required. Here’s how I follow up:
- 1 day past due – A nice reminder via email.
- 3 days past due – A text message including a direct payment link.
- 7 days past due – A phone call to check in.
If you are 10 or more days over due, you will get a final notice with possible late fines.
This method maintains professionalism while guaranteeing that consumers do not forget to pay.
7. Use Payment Software that Integrates With Your Business.
Selecting the appropriate online payment solution makes a significant impact. An effective system should:
- Integrate effortlessly with your website and CRM.
- Provide SMS and mobile payments alternatives.
- Automate invoices and reminders.
There are several alternatives available; choose one that best meets your company’s requirements.
Final Thoughts: Get Paid Faster with the Right Strategy.
Getting paid on time is more than simply sending invoices; it’s about making the process simple, quick, and automated for your customers. By using SMS payments, providing numerous payment alternatives, and automated reminders, you can keep your cash flow robust and your stress levels down.
If you’re ready to accelerate your payments, check out Xipster’s mobile payments to learn how we can help SMBs get paid quicker by 2025!