As a small business owner, I know how crucial it is to get paid quickly and efficiently. No one likes waiting for payments to clear, and cash flow can be a real challenge, especially when your customers pay late. That’s why I’m always on the lookout for ways to speed up my payment process. In 2025, two of the most effective payment solutions for SMBs are link payments and virtual terminals. But which one is better for getting paid faster? Let’s break it down.
What Are Link Payments?
When I first started looking into payment options, I came across link payments. Simply put, this method allows you to send a secure, personalized payment link to your customers via SMS or email. The customer then clicks the link, enters their payment details, and boom – you’re paid. No more chasing down checks or waiting for bank transfers. It’s fast, simple, and incredibly effective.
In my experience, using payment links has saved me so much time. For example, I run a local coffee shop, and whenever a customer needs to pay for a bulk order, I just send them a payment link. They pay right there on their phone, and I can see the payment pop up in my account almost instantly. It’s an absolute game-changer.
But, what is link payments really good for? Link payments are perfect for businesses like mine that have a mix of in-person and remote transactions. Whether it’s an order over the phone, a follow-up invoice, or just a simple payment reminder, link payments make it easy for your customers to pay however they prefer, and you get paid faster.
If you want to dive deeper into how link payments can boost your cash flow, check out this ultimate guide to what is link payments.
Virtual Terminals: Another Game-Changer
Now, let’s talk about virtual terminals. At first, I didn’t know much about virtual terminals. They seemed like something only big corporations would need. But after trying one out, I quickly realized how useful they could be, even for a small business like mine.
A virtual terminal allows you to process credit card payments without needing a physical card reader. This is great for situations where you might not have your card reader on hand, but still need to take payments over the phone, through a website, or via email. All you need is an internet connection, and you’re good to go. I use it when I’m dealing with customer orders that come in via email or phone – it’s smooth, easy, and secure.
In my experience, virtual terminals are a fantastic option if you frequently deal with transactions that happen over the phone or on the go. For example, if you’re in construction or HVAC, where customers often call to schedule services, you can securely take payments while you’re on-site or at the office.
To learn more about virtual terminals and how they can simplify your payment process, check out this Virtual Terminal guide for SMBs.
Link Payments vs. Virtual Terminal: Which One Is Best for Your Business?
So, which option is better for you? It all depends on the way you do business. Here’s how I think about it:
When to Use Link Payments:
- Quick, one-time payments: If you’re looking to send a payment reminder or a one-time invoice, link payments are the way to go.
- Mobile-friendly: If your customers are often on the go, or if you’re a service provider, link payments let them pay instantly from their phones.
- Flexibility: Link payments are great for recurring payments, too. You can set them up for repeat customers, making it even easier for them to pay every month without any hassle.
When to Use Virtual Terminals:
- Phone-based orders: If you take orders over the phone and need to process payments immediately, a virtual terminal is the perfect fit.
- Customer-facing payments: When you don’t have access to a traditional point-of-sale (POS) system but need to take a payment (e.g., at a trade show or pop-up event), virtual terminals have you covered.
I personally prefer link payments for day-to-day transactions because they’re fast and easy. But when I need something a bit more hands-on, especially with phone orders or taking payments over email, the virtual terminal does the job.
Conclusion: Choose What Works Best for You
At the end of the day, link payments and virtual terminals are both excellent ways to get paid faster. For me, it’s been about finding the right balance between both tools. Whether you’re sending a quick payment link to a customer or taking an over-the-phone payment with a virtual terminal, both options can help improve your cash flow and save you time.
No matter which one you choose, the important thing is to embrace technology that speeds up the payment process – because the faster you get paid, the easier it is to run your business.
