Back-to-School Rush: How Merchants Can Simplify Payments and Serve Customers Faster

Equity Bank

The back-to-school season is one of the busiest times of the year for retailers, with parents rushing to buy uniforms, textbooks, stationery, and other school supplies.

For merchants, this period can bring both high sales potential and operational challenges, especially around managing payments and cash flow.

Managing Finances During the Rush

Equity Bank

• Digital payments also help merchants track and manage finances more efficiently.

• Payments received through mobile or online platforms are automatically recorded, simplifying accounting and making it easier to monitor cash flow during a busy season.

• Merchants can use these systems to gain instant access to funds, monitor transactions in real time, and ensure that payments for stock and supplies are settled without delays.

  
  

Accept Multiple Payment Options

• Shoppers increasingly expect convenience and flexibility when paying for goods.

• Merchants who can offer a range of payment options are better positioned to serve customers and complete sales, even when cash is limited.

• One solution widely used by Kenyan merchants is the One Equity Till Number, which allows businesses to accept payments from bank accounts, mobile platforms, and digital wallets.

• Payments made through such systems are typically processed instantly, reducing the need for cash handling and lowering the risk of errors or theft.

• In addition to mobile payments, card payments are another option for retailers.

• Accepting debit or credit card payments allows customers who do not carry cash to shop with ease and can help businesses capture more sales during peak periods.

  
  

Financing and Stock Management

• The back-to-school season often requires additional inventory.

• Some financial institutions provide business loans and overdraft facilities to help merchants stock up and cover short-term expenses such as inventory and staffing.

• Flexible repayment terms and competitive interest rates can make these options manageable for small and medium-sized enterprises.

  
  

Staying Secure

• With increased transactions comes an increased need for security.

• Digital payments reduce the risks associated with handling large sums of cash, while merchants are advised to verify payments, keep PINs confidential, and monitor transactions regularly to prevent fraud.

• By adopting a mix of digital and card-based payments, merchants can streamline operations, serve customers more efficiently, and navigate the busy back-to-school season with less stress.