After the announcements by Xero two weeks ago and the news today that Sage was going to join the Salesforce platform, the latest company to get involved is vCita. They have announced the availability of their LiveSite Online Payments solution for service-based small businesses. The only surprise is that they didn't roll out Ed Balls MP to champion their announcement after his statement that you should always get a receipt from your windows cleaner.
For small businesses, the option to take credit card and other online payments can be expensive. Credit card companies not only like to levy charges but also hold back money in case a customer demands a refund. For many small businesses this is a major problem because it not only reduces their profit by adding to costs but also extends the time they wait until they get paid.
Another challenge for small businesses is making this part of their business process. All the major banks now make it possible for small businesses to take payments through an app either on the phone or a table. The problem is that the business then has to reconcile their bank account with their books which takes time and increases the risk of a mistake.
What vCita is offering not only an app which is integrated with the accounting solution that the business is using but also a simple Pay Now button that the business can integrate into their website. From here, vCita will take over all the heavy life of processing the payment securely which means that small businesses can improve their ability to take payments from customers with very little effort.