Managing business expenses is no easy task, especially your staff salary payment which usually covers up to 30-40% of your overhead expenses.
And this is also the payment that you should not delay as well as it will impact your team’s welfare and morale. Someone once said that as a leader, you first have to take care of your team’s welfare, and then only your team will take care of your customers.
Despite this, sometimes businesses are faced with cash flow issues due to late payments from clients or other unforeseen circumstances. At this point, there are not many options left except for tapping into your personal cash flow or getting a loan from your family or friends.
Now with jomSETTLE, you can tap into the immediate credit available to you without touching your personal cash flow – which is to pay your staff salary using your credit card.
Pay Salary with a Credit Card
To pay salary with credit card, all you need to do is to create a business account in jomSETTLE. Select staff salary payment type and fill up all the required details with supporting documents (e.g payslip and employer contract). You then swipe using your credit card and the fund will be transferred directly into your employee’s bank account within 3 working days.
(*Do take note that there will be 3 working days of processing time, so you are advised to make the payment at least 3 days before the due date)
Why Should I Pay My Staff Salary using Credit Card?
Tap Into Immediate Credit Available at the Cheapest Rate
Cash flow issues are inevitable when running a business but so is salary payments. In this situation, why not tap into the immediate credit available to us through our pre-approved credit limit instead of getting a loan which is at a higher interest rate. In jomSETTLE, we only charged a 2.5% transaction fee per transaction. Our approval time is also the fastest, once you made a payment, we will only take 3 working days to process your payment.
Float Your Cash Flow For Up to 50 Days
When used smartly, credit card is a very good financing tool. When you make a payment using your credit card, you get to settle your expenses first without actually using your cash. A standard credit card usually gives you a float day between 45 days to 55 days depending on your card issuers. For a business, an extra 45 days is very important as one should always expect a delay in payment from the clients. This will give you much-needed leeway in managing your cash flow even when the payment from your client is late. Furthermore, with more capital on hand, there are more opportunities that your business can venture into.
You can read more about the importance of managing cash flow here.Keep the Team Morale Up with On-Time Payment to Your Staff
As we mentioned above, we leader has to make sure that our team member’s welfare is taken care of so that they can perform at their best. When you pay your staff salary with credit card, you can always make sure that the payment is on-time as you do not need to wait for the payment from your client.
Reward Your Employee with the Credit Card Reward Points Earned
In jomSETTLE, we believe that every big-ticket payment should come with rewards. When you move big monthly overhead payments such as salary to your credit card, in no time you will see how fast your credit card points are accumulated. With these points, you can change to air miles and use them to reward your top employee by giving them free flight tickets or you can even change to some useful office appliances that will bring benefits to all your employee.
Here is How to Pay Salary with a Credit Card using jomSETTLE
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Managing business expenses is no easy task, especially your staff salary payment which usually covers up to 30-40% of your overhead expenses.
And this is also the payment that you should not delay as well as it will impact your team’s welfare and morale. Someone once said that as a leader, you first have to take care of your team’s welfare, and then only your team will take care of your customers.
Despite this, sometimes businesses are faced with cash flow issues due to late payments from clients or other unforeseen circumstances. At this point, there are not many options left except for tapping into your personal cash flow or getting a loan from your family or friends.
Now with jomSETTLE, you can tap into the immediate credit available to you without touching your personal cash flow – which is to pay your staff salary using your credit card.
Pay Salary with a Credit Card
To pay salary with credit card, all you need to do is to create a business account in jomSETTLE. Select staff salary payment type and fill up all the required details with supporting documents (e.g payslip and employer contract). You then swipe using your credit card and the fund will be transferred directly into your employee’s bank account within 3 working days.
(*Do take note that there will be 3 working days of processing time, so you are advised to make the payment at least 3 days before the due date)
Why Should I Pay My Staff Salary using Credit Card?
Cash flow issues are inevitable when running a business but so is salary payments. In this situation, why not tap into the immediate credit available to us through our pre-approved credit limit instead of getting a loan which is at a higher interest rate. In jomSETTLE, we only charged a 2.5% transaction fee per transaction. Our approval time is also the fastest, once you made a payment, we will only take 3 working days to process your payment.
When used smartly, credit card is a very good financing tool. When you make a payment using your credit card, you get to settle your expenses first without actually using your cash. A standard credit card usually gives you a float day between 45 days to 55 days depending on your card issuers. For a business, an extra 45 days is very important as one should always expect a delay in payment from the clients. This will give you much-needed leeway in managing your cash flow even when the payment from your client is late. Furthermore, with more capital on hand, there are more opportunities that your business can venture into.
You can read more about the importance of managing cash flow here.
As we mentioned above, we leader has to make sure that our team member’s welfare is taken care of so that they can perform at their best. When you pay your staff salary with credit card, you can always make sure that the payment is on-time as you do not need to wait for the payment from your client.
In jomSETTLE, we believe that every big-ticket payment should come with rewards. When you move big monthly overhead payments such as salary to your credit card, in no time you will see how fast your credit card points are accumulated. With these points, you can change to air miles and use them to reward your top employee by giving them free flight tickets or you can even change to some useful office appliances that will bring benefits to all your employee.
Here is How to Pay Salary with a Credit Card using jomSETTLE
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