The Pros and Cons of Debt Factoring

Accepting payments, managing your finances, and paying recipients should be simple. Unfortunately, this isn’t always the case. Our research shows the majority of Australian business owners are dissatisfied with their business banking. The truth is, most merchant services solutions aren’t built to help your business thrive. That’s where Zeller comes in. Today, we’re launching Zeller — giving Australian merchants affordable, accessible, and innovative tools that enable businesses to get paid, access their money, and manage cash flow — without ever having to set foot inside a bank. We’re reimagining business banking through powerful new technology, backed up by local support and personalised service. An innovative SME alternative to business banking “Innovative” isn’t a word usually heard in the context of merchant services. Finding integrated financial solutions to grow and support your business often requires you to weave together multiple products from different providers, which typically means longer processing times, more paperwork, and a more frustrating experience. Large enterprises benefit from financial solutions tailored to their specific needs; traditional banks have shown that they’re more than willing to pour resources into supporting big business. However, this comes at a cost to the everyday Aussies behind our small to medium sized businesses. SME owners are typically forced to fit the traditional banking mold, suffering through archaic onboarding processes only to be hit with high fees, lock-in contracts, and slow processing times when the paperwork is complete. For new business owners, this can present what seems like an insurmountable hurdle to starting and growing a venture. With 67% of businesses stating they would prefer a non-Big 4 bank, it’s clear that Australian business banking is fundamentally broken. A lack of innovation from the incumbents means merchants like you are overlooked and underserved, at a time when they should be thriving. Businesses need new tools, technology, and support to grow. And that’s why we built Zeller. What’s in the box Zeller is all-in-one payments and finance solution for Australian businesses. It helps to accelerate your business cash flow by giving you a next-generation EFTPOS terminal, a free business transaction account, and free business Mastercard, all in one box. 1. Zeller Terminal Our research revealed that 71% of business owners using clunky EFTPOS terminals regularly consider switching providers. High costs and expensive fees, slow deposits that impact cash flow, and a lack of local support are all common reasons for businesses looking to switch. The majority of Australian business owners are dissatisfied with outdated EFTPOS technology currently on the market. Zeller Terminal is an all-in-one card payment and EFTPOS solution. Our next-gen payment terminal allows you to accept every payment from every customer – Zeller Terminal accepts contactless devices, contactless cards, chip cards, magstripe cards, and will soon also accept alternative payment methods such as Alipay and ZipPay. As new payment methods continue to emerge and shape the way Australians pay for products and services, Zeller Terminal will adapt to support Australian businesses to grow. Read more about Zeller Terminal . 2. Zeller Transaction Account We understand that being able to effectively manage and access your cash flow is key to the long-term survival of your business.  That’s why we make sure your funds are available as quickly as possible after taking payment from a customer. Zeller Transaction Account is included free when you sign up for Zeller. Your account is instantly ready to use, giving you real-time visibility over your settlements and spending — no lengthy paperwork required. When you take payment through Zeller Terminal, funds are settled directly into your free Zeller Transaction Account within the day. You also have the option of sweeping your funds into any existing bank account, and they’ll be accessible as soon as your bank allows. Read more about Zeller Transaction Account . 3. Zeller Mastercard By giving you the tools to accept payments, store and settle funds, and spend your money, we're significantly reducing the time it takes for you to get access to your funds. According to the Australian Bureau of Statistics, more than 60% of small businesses close within their first three years — and the most cited cause for business failure is poor cash flow. As a business owner, fast access to your funds to pay your staff, suppliers, or buy product, is imperative. Read more about Zeller Mastercard . By seamlessly combining these services into a fully integrated solution, Zeller significantly reduces the time businesses spend on finding a merchant services provider, completing lengthy applications, getting set up, and connecting disparate payments and financial services solutions — all while speeding up your business’s cash flow. Watch the video to see how Zeller works in more detail. Your business, your way Merchant services should work the way your business needs, allowing you to pick and choose the business banking products you need to sustain and grow a profitable business. With Zeller, you have the option to choose the parts you need – Zeller Terminal, Zeller Transaction Account, and Zeller Mastercard work just as powerfully together as an integrated solution as they do alongside your existing products. Learn more about our EFTPOS machines and how our newly launched products are changing business banking for the better.

Meet your newest recruit: a sleek, reliable multitasker that takes payments, processes sales, cuts costs, grows tips, splits bills, and boosts your brand. Once upon a time,  EFTPOS terminals did one thing: accept card payments. In 2024, they have become the beating heart of a business’s finances, incorporating myriad tools and features to help merchants not only deal with the increasing volume of card payments, but also make informed business decisions, deliver premium and branded customer service, and get you paid faster. Zeller Terminal is one such device that’s leading the way in payment technology in Australia. Integrated into Zeller’s financial ecosystem, which offers a  point-of-sale system ,  transaction account  and  savings account ,  debit cards  and  corporate cards , a  contact directory  and  mobile app , Zeller EFTPOS Terminal is a key component of an all-in-one system that gives businesses real-time visibility of their cash position, important sales insights, and near-instant access to their funds. So much more than an EFTPOS machine, Zeller Terminal is a key growth driver for your business, and below, we explain twelve reasons why. Top 12 benefits of Zeller Terminal 1. It saves your business money. Zeller Terminal is yours to own outright for the low cost of $99, or $199 if you choose Zeller Terminal 2, which comes with a built-in point-of-sale system. There are no monthly rental fees, no lock-in contracts, and no hidden costs. Once you start taking payments, you will only ever incur a 1.4% transaction fee for all card types – including AMEX – or 1.7% for over-the-phone transactions. Plus, with Zeller Terminal’s flexible surcharging capability, you can choose to pass on all or part of your merchant fee to the customer. Unlike many merchant services providers which lock you into surcharging for an added fee, Zeller’s zero-cost EFTPOS  option can be turned on, off, or customised at the press of a button. 2. It accepts every payment method. Zeller Terminal gives your customers the option to pay however is most convenient for them. To make payment, a customer can: tap their smartphone, watch, or other  NFC-enabled device  to the terminal tap their contactless debit and credit cards to the terminal insert a chip card into Zeller Terminal and, if needed, securely enter their PIN swipe their card and enter their PIN, or sign directly on the screen (available on Zeller Terminal 1 only) call you and read their card details over the phone 3. It simplifies checkout with a free, built-in point-of-sale system. Traditional point-of-sale software can be costly to growing businesses, which is why Zeller Terminal 2 incorporates a simple POS solution right into the hardware, for free:  Zeller POS Lite . Designed for micro, small, and mobile businesses, this easy-to-use POS solution records sales and delivers a fast and secure customer checkout experience. With Zeller POS Lite, you can: Manage a library of items directly on the terminal or via Zeller Dashboard or App Customise your product offering with modifiers and variants Design your home screen grid to allow quick access to frequently used items Generate itemised receipts which customers can receive via email, SMS, or QR code View detailed sales reports to understand what you are selling and when Create and manage discounts Get set up instantly – Zeller POS Lite comes automatically installed on Zeller Terminal 2 4. It boosts your brand with customisable receipts and screensavers. Zeller ensures your brand is central to the payment process by allowing you to customise both your receipts and your machine’s screensaver. Whether they’re printed or sent digitally as an email or SMS, Zeller receipts can incorporate a custom image at the top of the receipt, as well as business details, social media handles, a brief message or returns policy. Similarly, Zeller Terminal’s large digital screen can be customised with an image of your choice, allowing you to engage your customers with your brand while you scan their items or pull up their order on your point-of-sale. Much more than a simple payment device, Zeller Terminal is an innovative marketing tool that can be leveraged to instil your brand messaging. Customise your Terminal screensaver and your receipt to align with your brand. 5. It splits payments. Gone are the days of making your customers get out their phone calculator to figure out who owes what after a group meal. Zeller Terminal’s  Split Payments  functionality gives customers the option of splitting by custom value or by number of people. Not only is this more convenient for your patrons, but it speeds up the payment process, freeing up the EFTPOS terminal for it to be used by other staff. Additionally, by giving each individual customer the option to pay their share, it gives them all the opportunity to provide a tip. Everyone tips differently, so by giving more power to each customer, it is not only a more democratic process, it's likely to result in cumulatively greater tips for your business. 6. It settles the bill, tableside. Zeller Terminal’s  Pay at Table  feature is revolutionising the dining experience. Where before waitstaff would have to jostle between the diner’s table and the point-of-sale machine to settle a bill, Zeller Terminal now allows you to see total outstanding bills, take payments and close tables — all on one device. Rather than the customer paying at the counter or finalising the bill in the traditional, time-consuming manner, waitstaff can deliver the bill and the mobile payment device, all at the same time. The status of a table is updated in real time and synced across all machines, reducing human error and optimising the whole operation. 7. It makes processing refunds easy. Zeller Terminal supports both complete and partial refunds – and you, as a business owner, have the ability to restrict who can provide a customer with a refund. It’s an added level of protection for your business. Refunding a payment doesn’t cost your business anything; Zeller doesn’t charge any additional fees for refunding a customer. 7. It gives you real-time insights. Track key metrics from your Zeller Terminal in your own Zeller Dashboard or on  Zeller App . By providing powerful real-time data and a searchable transaction history, Zeller equips you with the tools you need to better manage cash flow, identify cost-saving opportunities and sales patterns. With most payment services providers, daily transaction information is unavailable until totals are tallied up at close of business — and important business information can only be found in a monthly merchant services statement. Having the ability to see how your business is performing at a glance enables you to quickly understand your short-term cash flow, progress sales targets to meet (and outperform) business objectives, and ultimately make smarter business decisions. 9. It gets you paid faster with same-day settlements. When you settle your funds into a Zeller Transaction Account, your day’s takings from Zeller Terminal will be deposited into your account the very same night, 365 days a year. If you choose to settle your funds into a third-party bank account, you will receive them the next business day. Speeding up the settlement process means you have access to your funds faster, helping to keep your cash flow healthy, and helping to avoid delays to wage payments or supply orders. 10. It can be controlled remotely. If your business operates across multiple locations, you need an easy way to manage your EFTPOS payment terminals. Every one of your Zeller Terminals can be controlled from your Zeller account, ensuring consistency across your entire operation. Update your staff permissions, enable and disable surcharging, update the information on your receipts, and more from one easy, online location. 11. It increases your tips. Zeller Terminal makes it easy for customers to leave a tip. This is particularly useful for hospitality businesses — you don’t have to enable the feature, but the functionality is there. You can configure your Zeller Terminal to provide a range of tipping options, either prompting a customer to leave a tip calculated on a percentage of their purchase or allowing them to enter a custom amount. This is a proven tactic, designed to grow tips for your business. 12. It reduces paper with digital and QR code receipts. A recent study* revealed that Australia produces 10.6 billion paper receipts annually, but because of their chemical coating, none of them can be recycled. With consumers and businesses becoming increasingly aware of their environmental footprint, many are choosing digital receipts as a convenient and sustainable alternative. Zeller Terminal embraces this step forward by offering customers the choice to have their receipts sent via email or SMS (available on both terminal models), or they can quickly scan a QR code which appears on-screen after the payment has been processed and download their receipt directly to their smartphone (Zeller Terminal 2 only). *‘Life Journey of an Average Receipt’ report, commissioned by Slyp, undertaken by the University of Technology Sydney (UTS). Plus protection for your business. Zeller uses end-to-end encryption and industry best practices to protect transactions from the time they are taken at the terminal to the time your money is received. Whether you choose to use an open or secured Wi-Fi connection or a mobile broadband-based connection, all the information Zeller processes is encrypted to our servers. Our team adheres to industry best practices in cybersecurity and threat management, constantly monitoring transactions for suspicious activity and blocking fraudulent transactions. When payment disputes occur, our team of experts deals with the bank for you, helping you avoid costly chargebacks. We’re always looking ahead. Our team of developers are hard at work, continuously building new functionality to give your business an edge. That's why, when you sign up for Zeller, there are no lock-in contracts or commitments. We know you’ll love our solution enough to never want to leave. Learn more about how  Zeller Terminal  can help your business grow by accepting every card payment, quickly and securely, for one low rate. By sharing your details with us, we may contact you from time to time. 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COVID-19 has drastically changed consumer behaviour. Here's what you need to know. Australian business owners have shown incredible resilience throughout 2020, and the first half of 2021. Faced with lockdowns, capacity restrictions, and a constant sense of uncertainty, many have had their hands full simply trying to keep out of the red. Yet while it’s clear the 2021-22 financial year will be another year of transition, there is light at the end of the tunnel. A number of business trends have emerged over the past few months, shaped by fast real-time consumer preferences and behaviour. While we cannot know with total certainty what the next financial year holds, you can be prepared to embrace the changes. Understanding how the economic environment has shifted is key to navigating your business through the pandemic, and beyond. In this article, we deep dive into five of the emerging business trends identified by the world’s biggest consulting firms. Each of these trends will have a ripple effect across the small to medium business sector. Keep reading to discover how you can capitalise on these trends and implement practices that will benefit your bottom line. 1. Revenge spending As consumer confidence returns, so too will spending. “Revenge spending” has emerged as a new term for a post-lockdown cash splash. The term, first used to describe the increase in retail spending in China last April , is defined by the Collins Dictionary as: “Spending excessively after a period when one has had limited opportunities to spend.” It makes sense; consumers have spent the last eighteen months saving a disproportionate amount of their income. Now, after more than a year of lockdowns, quarantines, business closures, and restrictions, those same consumers have a pent-up desire to spend. 41% of Australians saved more than usual in 2020. This trend isn’t new — economists have reported an increase in spending after every financial crisis. The difference, however, is that this particular economic downturn particularly affected the services industries. Unlike other periods of financial crisis in history, those involved in the running of a services-based business have been restricted from carrying out their jobs. A service cannot be purchased online, ordered through click-and-collect, or delivered via UberEats. Government restrictions have prevented plumbers, electricians and other trades from entering people’s homes, effectively putting a stop to business. For this reason, it’s likely we’ll see revenge spending across all industries for the first time — as consumers spend big on dining, retail, entertainment, home improvements and more. Tim Finocchiaro, Managing Director of Pavers Plus — one of Victoria’s largest independent paving and landscape suppliers — has already noticed a shift in where Australians are spending their money, and it’s close to home. “Last Spring was pretty tough, with Victoria's lockdowns, and Spring is usually our busiest period. But the Australian life is an outdoor life, and now with programs like The Block people are being exposed to all sorts of new designs. We’re seeing a lot of demand for pool tiles at the moment – people are thinking, ‘If I can’t spend money on an overseas holiday, I’ll spend it on a pool’,” Tim says. "We're expecting to see the economic benefits this financial year, as Australians reinvest in their homes.” How businesses can benefit To cash in on consumers’ willingness to spend big, consider which elements of life your customers have missed most throughout lockdown and how your business can adapt to provide those things. The most obvious example is communal experiences. To meet this need, book stores could invite an author to read in-store. A games retailer could put on a magic show, or host an in-person chess competition. Restaurants and cafes could offer group packages such as high tea, or themed dinners with entertainment. Of course, with group bookings comes the headache of bill-splitting. This is where having the right tools for the job can save a lot of time, and help to provide an exceptional customer experience that leaves a great taste in diners’ mouths. 2. Conscious consumerism Conscious consumerism — sometimes referred to as ethical consumerism, green consumerism, or sustainable consumerism — is a commitment to making purchasing decisions that have positive social, economic, and environmental impact. These terms are no longer buzzwords; conscious consumerism is an effective (and arguably necessary) business strategy. We know with certainty that younger generations are actively spending at businesses that share their own values. The public shunning of fast fashion producers and the growth in demand for farm-to-table hospitality are examples of this shift, albeit from opposite ends of the spectrum. In fact, a recent survey found that nine in ten Australian consumers are more likely to purchase products that are ethically or sustainably produced. And they’re not just settling for “eco-friendly” labels — 87% want to see greater transparency around what makes a business’s products sustainable. But it’s not just a trend we’re seeing on our own home soil — sustainable business is an international phenomenon. A global study by Oxford Economics reported that 82% of SMEs who introduced ethical and sustainable practices saw a 15% increase in financial performance the following year. People spend more with conscious businesses. How businesses can benefit Consumers are more environmentally and socially conscious than ever before, and expect the brands they buy from or use to take responsibility for their impact. It’s no longer enough to not know where your products come from, or the conditions under which they’re made. Consumers are looking for greener alternatives and transparent supply chains. Now is the time for every business to rethink its operations and environmental impact. First,  read our blog to discover five ways to make your business more sustainable, work out where you can make changes and — if it makes good business sense — implement them publicly. With the significant supply chain disruptions brought about by COVID-19, it’s an ideal time to hit the reset button and make changes to run your business more sustainably. 3. Local love The silver lining of physically restricting consumers to within a few kilometers of their homes is that local businesses have been put in the spotlight. In 2020, consumers saw the effect of the pandemic on their local barbershop, fruit market, gift shop, and more. The shift to remote work kept (and continues to keep) many workers in suburbs and regional areas, providing more opportunity to discover local shops, cafes, restaurants and other businesses. Now, with many shuttered still, consumers say they will be taking action to support homegrown businesses. A recent survey by CouriersPlease found that 4 out of 5 Australian shoppers — an overwhelmingly large proportion — say they would be proactively supporting small and local businesses over big, global brands throughout 2021. It’s clear the “shop local” trend is likely to continue in 2021-22 and beyond. How businesses can benefit This shift presents challenges for larger brands, such as department stores. However, small businesses can capitalise on this by reminding consumers that spending locally doesn’t have to mean more money, or less convenience. It could be something as simple as showing support for other local businesses, or sympathy for those doing it tough. If you’re in a position to, it could be an extended returns policy or offering a payment plan. Depending on the type of business you run, joining forces with other local business owners might be beneficial. For example: A cafe shop could invite the local florist to place a few arrangements for sale by the register, and in exchange the florist might keep some of the cafe’s business cards at the front counter. A local grocer and gift store could team up to create and sell hampers, with an emphasis on local produce and products. A homewares store could invite the local coffee cart to sell coffees at its EOFY sale event. Read our blog , Shop Local: How You Can Benefit From This Growing Trend, for five easy-to-implement tips to attract more local customers to your business. 4. Authenticity on social media These days, it’s not just e-commerce businesses that need to be active online; bricks and mortar businesses need to have a social media presence. However, consumers’ increasing reliance on social media does not necessarily mean that it’s any easier for businesses to connect in a meaningful way. For the last 18 months, social media has been a lifeline for many — providing people with the means to connect with one another, and businesses with a platform to reach their target audience. Yet countless studies show that a growing reliance on technology rather than face to face interaction is causing an overwhelmingly large proportion of people to feel isolated, disconnected and lonely. In fact, the problem is so pervasive that at least one scientist is working on a pill to try and alleviate it. As a result, businesses need to think outside the curated box and utilise social media in a way that makes their audiences feel connected. In 2020-21, a number of brands saw the opportunity to strengthen community ties through an authentic social media presence, purposefully designed to connect with and engage their audience. There were giveaways, collaborations, behind-the-scenes content, live videos and more. This authentic content helps forge a deeper connection with customers, which in turn encourages brand loyalty. As communities continue to be affected by lockdowns, this type of marketing should be an important part of any businesses social media strategy in 2021-22. How businesses can benefit Being authentic means being real and genuine. An authentic brand is one that understands its audience and their values, and aligns itself accordingly. This is especially important for businesses operating in a saturated marketplace; consumers will often choose to spend money with the brand they feel most connected to. One of the most important steps to creating an authentic brand is deciding its values. Decide what your business stands for, then audit your website, social media presence and in-store experience for any discrepancies. When it comes to social media, imperfect content, live content, and user-generated content should be prioritised over overly photoshopped or curated content. One of the most authentic pieces of content you can create is a peek behind the scenes, introducing the people that make your business what it is— whether that’s the chef, the jeweler, the barista, the locals, or even their dogs. Whatever you choose to post, it must reflect the ethos of your business’s brand in an authentic way. 5. Business model innovation Crisis typically spark a wave of innovation, and the COVID-19 pandemic has proved no different. 2020 was a year of business model innovation. This financial year, the focus will be on refinement. In the face of lockdowns and restrictions, many businesses were forced to adapt their strategy in order to stay afloat. Hospitality and events-based businesses were especially affected. The businesses that thrived were those that were able to react quickly to the changed environment. For example, restaurants that pivoted to enable finish-at-home experiences through the likes of Providoor, or in-person events that shifted to online. Bill Spathis, co-owner of Melbourne-based Decoy Cafe Coffee Roasters, was quick to adapt when the city came out of lockdown. With fewer office workers dropping by for their morning brew, Decoy Cafe's menu shifted to align with its new clientele. “We usually operate à la carte, but we’ve had to change our business model because our customer base is different now. People aren’t coming back to the city for work just yet —  but they’re building a hotel across the road, so there are lots of tradies,” Bill said. “We’ve installed a bain marie for dim sims, fries and the like — and that’s what’s saved us. Without the tradies, we’d be closed.” Although businesses have always had to think about how the market is changing and what that means for their product or service, business model innovation will be more important in 2021-22 than ever before. The key to success this financial year will be refining the strategies that allow your business to continue generating revenue even when consumers cannot physically visit your business, or engage your services. How businesses can benefit Every business should have a crisis plan by now. In fact, it should be a part of every business plan ; no one can say, with complete certainty, what this financial year or the next holds. Businesses need to plan in advance how they will adapt in the face of a lockdown. Retailers should know how a lockdown will affect their returns policy, and trades businesses ought to have a communications strategy in place to reschedule appointments, for example. Every business should invest in an EFTPOS terminal that allows them to accept payment, even when customers cannot come to the store. This will help ensure business can continue as normal, as much as possible. However, the businesses that continue to grow in these times are those that innovate their business model. Gift cards, online tutorials and take-home packs are all examples of monitisable, COVID-safe strategies. If these changed business models make sense – customers enjoy the changed offering, and it’s a profitable direction for the business – there’s no reason to go back to the way things were. Business owners should always look for opportunities to drive revenue and generate new opportunities as the economy recovers. Embrace the opportunity The COVID-19 pandemic has changed the business landscape, however life beyond the pandemic holds promise. Overall, the 2021-22 financial year looks like it will be a year of optimism, recovery and opportunity for business owners. As the months roll on, additional trends will emerge that further shape the business landscape. It’s up to business owners to decide how to adjust their tactics in response. To stay up-to-date with the latest small business marketing trends, learn about new payment methods and more, sign up to our Business Blog.