Good payment agreements are essential for your webshop

Most web shop owners have broken the good habit of asking for payment before sending the goods to their customers. In fact, the Internet makes this perfectly possible: there are countless payment methods for getting cash payments (PayPal, credit card...). But requesting cash payments is not always possible, or even desirable. Because you reduce the risk associated with credit, but you lose at least 30% of your turnover, as mentioned by Intrum Justitia, a company that offers credit optimisation and debt collection services. Working with credit can be a solution, but only if you assess the associated risks properly.

Recently, the company conducted a survey on bad debtors. In this survey, they found out that two groups can be distinguished: risky and trusted. Men and women aged between 30 and 44 are e.g. very trustworthy, just as women aged between 45 and 59. Households and couples also constitute a trusted category, just as highly qualified middle-class people. On the other hand, other categories, such as young people under 29, are associated with high credit risks.

You will have to keep these factors in mind when you will decide whether you will ask for cash payments only or whether you will also offer a form of credit in your e-shop. Because if the product you sell is e.g. mainly intended for young people under 29, it is best that you consider a “cash only” approach. Whereas if you sell