My small business has a mix of B2B and B2C clients. When a new client signs up we always ask them what their preferred payment method is. Most people reply with “credit card” or ‘bank transfer’. But on several occasions now clients have replied with “invoice”.
What on earth are they thinking? An invoice is a document detailing what they are being billed for. 100% of our clients get an invoice, but it is not a payment method.
Why do people think that an invoice is a payment method??
I’m in the merchant services industry and yes, you are correct that some believe “invoice” is a payment method. When someone says that I usually add something like, “Ok, so your customers pay their invoices with cards, checks, or both?” Most of the time, I see the lightbulb go on after hearing that.