When it comes to making ends meet, landing a side gig or two is a great way to supplement your main source of income. Indeed, advances in technology have allowed people to create profitable vlogs, start home-based reselling businesses, as well as dip their toes into the world of freelance work. These same advances have also provided clients with various ways to send payments digitally. But before we get into them, let’s take a look at how professionals used to accept payments in the past and how things have changed in the modern age.
How People Used to Receive Payment in the Past
Back in the day, there were only a limited number of payment methods for those who took on side hustles. Most newbies cash upon the completion of a project, especially if it was for a friend or family member.
However, most registered corporations paid their outsourced service providers with post-dated checks. While some would send them off using snail mail or couriers, most clients required people to pick up their checks in person. This was a huge inconvenience, as it meant enduring heavy traffic and long wait times. To make matters worse, most accounting departments were only open during weekday office hours. Thus, people with full-time jobs would have to file leaves just so they could get paid for their side gigs.
Upon receiving their checks, they’d have to go to their bank of choice to deposit them into their account. Afterwards, they had to wait for the deposited checks to clear, which often took a few days. If they were lucky, though, some clients would be kind enough to deposit the check directly into their bank account.
While most companies opted for traditional post-dated checks, others preferred to use over-the-counter bank deposits. That said, people still had to manually check their account balance to confirm receipt of payment by going to a nearby ATM or branch. Some clients would send money via remittance centers, giving side hustlers the option to pick it up at a branch or have it deposited directly into their accounts. Yet another method was to use wireless credit card terminals, though this still required people to meet up with the client to swipe their credit card. It was also not that accessible for most side hustle beginners, as it required them to buy dedicated equipment and software.
Modern Methods of Accepting Payments Quickly and Easily
To this day, some clients still opt to pay their outsourced service providers using the methods discussed above. However, they are not ideal, as they still come with many of the same hassles as before. Fortunately, many innovative payment service providers have cropped up in the past decade, meaning clients and service providers hardly ever had to leave their homes or offices to process payments.
For instance, many local financial institutions have started transitioning over to online banking apps and websites. If you and your client happen to use the same bank, they can simply transfer their payment over to you using your account number. In case your client is sending payment from a different bank, interbank transfer fees may apply.
Many e-wallets such as Maya also allow clients to settle their payments with just a few taps on their phone. All they have to do is input the mobile number linked to your Maya account as well as the amount that they want to transfer. After reviewing and confirming their transaction details, you’ll instantly get an SMS notifying you if the payment is successful.
To make the process even simpler for your clients, Maya allows you to generate and send your very own QR code. By scanning in or importing a screenshot of the code, the app will automatically fill in your information for them. Because they no longer have to type in your details, Maya’s QR Scan to Pay option reduces the likelihood of them accidentally sending the money to someone else.
Should your clients feel more comfortable using a remittance center, don’t worry. You can use your Maya account to receive payments via Western Union and MoneyGram. Should you decide to take your business to the next level, you can even upgrade to Maya One to accept payments via credit card.
Once you’ve received your earnings, you can keep it in your Maya balance so that you can use it to pay your utility bills, online purchases, as well as buy mobile load and data, among other things. You can also transfer your money to your bank account if desired.
When picking a primary payment method for your side gigs, why not choose the most convenient one of them all? With Maya, your clients can enjoy smooth and hassle-free transactions, and you can rest assured that your earnings will always arrive in an instant. Indeed, with a reliable e-wallet like Maya, there’s no better time than the present to start earning some extra income.
