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In this modern era of business, organizations provide customers with various payment options to increase the flow of cash. By enabling multiple payment options, organizations tend to create a better hassle-free ecosystem and ensure that customers have a better experience with the product and build trust with the brand.
All payment options have their own set of advantages and disadvantages. The four most prominent modes of payment prevalent in industries are cash, checks, cards, and ACH. Customers prefer one of them over another while making payment for a product/service. With various modes, come variegated clearance, transaction, and remittance issues that organizations need to deal with that ultimately result in the loss of valuable time and business.
Different payment options have different processes of improvement initiatives. The organizations need to figure out what suits them the best out of all the available options and what can speed up the whole transaction process. What if the processes of improvement initiatives become less tedious? What if figuring out the right mode of payment becomes less laborious and more efficient? Tune in to this course on 'Processing Different Payment Options' by John M. Donovan to get the answers to all your queries, confusion, and questions on various modes of payment.
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