Getting paid should be the simplest part of running a business and the businesses that manage this well tend to have one thing in common: they make it easy to say yes, and easy to pay.
Here are four practical ways to ensure your business is set up to receive money efficiently and professionally.
1. Card Payments (In Person and Online)
Cash-only businesses are now the exception rather than the norm. Most customers expect to pay by card – whether they are standing in front of you or sitting at home.
That means thinking beyond the traditional card machine:
- In person → card readers or contactless devices
- Online → payment links, checkout pages, or e-commerce sites
- On invoice → “Pay Now” buttons embedded in digital invoices
If you are taking payments online, this is where a payment gateway comes in.
Put simply, it is the secure system that:
- authorises the transaction
- protects the customer’s card details
- transfers the funds to your account
Using established providers reduces both your risk and your admin.
2. Bank Transfers (BACS, CHAPS and Faster Payments)
Bank transfers remain a core payment method in the UK, particularly for larger or B2B transactions.
Each type serves a slightly different purpose:
- BACS – reliable and low cost, but typically takes three working days
- CHAPS – same-day, high-value payments, usually with a fee
- Faster Payments – near-instant and widely used for everyday transactions
For most small businesses, Faster Payments has become the default.
One important clarification – you do not need FCA authorisation simply to receive bank transfers. That requirement only applies if you are operating as a regulated payment provider yourself, which most trading businesses are not.
The practical focus here is simpler:
- provide clear bank details
- reconcile regularly
- and ensure you know exactly what has (and hasn’t) been received
3. Direct Debit and Automated Collection
If you offer ongoing services – retainers, subscriptions, maintenance contracts – then chasing payments each month is an unnecessary drain on time and energy.
Direct Debit allows you to:
- collect payments automatically
- improve cash flow visibility
- reduce debtor days significantly
From a client’s perspective, it also removes effort. Once set up, payments happen in the background.
This is particularly valuable for:
- professional services
- property management
- recurring advisory or support packages
It shifts the conversation from “Have you paid?” to “Here’s the value you’re receiving.”
4. Payment Platforms
This is where things have evolved significantly in recent years. Platforms such as Stripe, GoCardless, and SumUp combine multiple functions into one place. Rather than just acting as a gateway, they typically offer:
- payment processing
- integrations with accounting software (e.g. Xero)
- automated reconciliation
- customer-friendly payment experiences
Each has a slightly different strength:
- Stripe – highly flexible, strong for online payments and integrations
- GoCardless – designed for Direct Debit and recurring income
- SumUp – simple, accessible card payment solutions (especially in person)
The commercial reality is that you are paying for convenience here – typically via transaction fees.
However, for many businesses, the trade-off is worthwhile:
- faster cash collection
- reduced admin
- fewer awkward conversations about overdue invoices
More Ways to Pay = Fewer Barriers
There is a broader point sitting behind all of this. When a customer is ready to pay, any friction – however small – creates a risk:
- delay
- hesitation
- or, occasionally, a lost sale
Well-structured payment systems do three things:
- They protect your time (less chasing, less admin)
- They support your cash flow (more predictable inflows)
- They enhance your client experience (professional, seamless transactions)
Not just getting paid, but getting paid on time and without friction