Freelancing has always been filled with hidden gems in the job market, but the recent events this 2020 prove that it can be a stable path for anyone. Being your own boss, honing your time-management skills, and hopping from gig-to-gig is all the rage in today’s changing workforce, making it one of the best careers of the future.
While working as a freelancer is becoming a norm in different industries and countries, everyone shares the common struggle of getting paid on time properly. Finding the right payment method, especially when your clients are all over the place, can be tricky.
Fortunately, there are universal payment methods that can take the drudgery out of receiving your income:
PayPal is arguably the new go-to payment method as it’s a widely used platform across the world. With over 227 million active users, there’s no doubt that it appeals to the masses thanks to its easy navigation.
It’s one of the most accessible ways to send or receive money since setting up an account is free, allowing clients to easily send your payment in just a click of a button. The money also appears instantly to your PayPal account, which you can then transfer to your bank account.
The only drawback is that it has a relatively hefty transaction fee, reaching around 2.9 percent and an additional $0.30. While it seems like a small amount, it can still pile up into thousands of dollars lost per year.
2. Credit Cards
One of the oldest transaction methods in the world, using credit cards appeals to most businessmen and women globally as it is the most trusted form of payment. Processing these “plastic” funds can easily be done using PayPal, though there are other online payment systems like Payment Page that can easily integrate credit cards into your page.
3. Electronic Funds Transfer
One of the best methods to-date, using electronic funds transfer (EFT) means you can send or receive money from one bank directly to another. You don’t have to use third-party apps or rely on credit card processing companies, though the challenge arises when you or your client’s bank need to review these bank requests.
This often puts a delay on the bank transfer, which is primarily the reason most freelancers prefer online payment methods like PayPal.
The Bottom Line: Exploring Different Payment Options For Freelancers In 2020
Using service providers like these can be huge money-savers since you don’t have to shell out for further equipment that works with your mobile device. Think of them as middlemen that can facilitate convenience and ease of payment all in one fell swoop.
If you’re looking for more different online payment methods that you can integrate into your business, Payment Page is your best option! We aim to make it easier for you to implement, making it possible to receive global payment support in just a few clicks with our WordPress plugin that helps create a hosted payment page seamlessly.