How to choose the right payment method for your new business

Every SME has different needs, especially when it comes to payments. That’s why NETS offers flexible solutions for all types of businesses.

Starting a new business is an exciting journey, filled with decisions, from shaping your product to choosing the right location. One important step that supports smooth day‑to‑day operations is putting the right payment setup in place from the start.

Choosing a payment solution that matches your business type helps create a seamless checkout experience for both you and your customers. When payments work smoothly, queues move faster, transactions go through with ease, and your team can focus on what matters most — serving customers and growing your business.

In Singapore’s cashless landscape, 95.1% of small and medium enterprises (SMEs) now adopt at least one digital technology. Take hawker stalls for example. As of 2024, Infocomm Media Development Authority’s (IMDA) Hawkers Go Digital programme sees over 11,500 hawker stalls processing $60 million monthly via e-payments. This shows how the right setup needs to match how and where your business operates.

What to consider before choosing

Before choosing a payment setup, take a moment to look at how your business operates day to day. Think about whether you’re running a permanent storefront or working with a light, mobile setup that allows you to move easily.

For businesses selling at flea markets or bazaar events, having a portable and flexible solution makes it easier to set up quickly and serve customers smoothly, without being weighed down by bulky equipment.

If your business handles a high volume of small transactions, speedy and dependable payment processing helps keep operations flowing smoothly. At the same time, customers today appreciate the convenience of paying by card, QR, or both.

It’s also helpful to consider setup costs and how easily transactions can be reconciled at the end of each day. With these needs clearly defined, finding a payment system that fits your business becomes a simple and confident decision.

If you’re a fixed retail or service business

For shops, salons, clinics, or boutiques, smooth checkouts matter most. You need one reliable device for multiple payments and high volumes, plus easy POS integration.

NETS POS terminals make this effortless. It processes NETS, major credit cards, QR payments, overseas wallets, and foreign cards payments on a single machine, giving customers the seamless experience they expect.

It also allows you to track the transactions of various outlets from a single merchant portal, letting you have an overview of your business performance. And with dedicated on-site support, you can count on prompt assistance when you need it, so you can stay focused on running your business while NETS keeps your payments running smoothly.

If you’re running a mobile or pop-up business

If you’re a weekend market vendor, home baker, craft stallholder, or event seller, mobility is everything. These operations thrive on zero hardware commitments, lightning-fast setup, and seamless performance anywhere from bustling pop-up stores at shopping malls to outdoor events.

For that, seek app-based solutions offering instant QR or contactless payments for pop-up stores and lower setup fees.

NETS SoftPOS delivers precisely this. It transforms a smart device into a portable terminal with minimal setup time. You can even track the transactions and issue e-receipt on your mobile device.

If you’re a hawker stall or coffeeshop

Speed keeps queues moving at peak hours in hawker stalls and coffeeshops. F&B stalls thrive when customers scan and pay instantly, with clear confirmation and no delays.

Seek SGQR for Singapore businesses: a single standardised QR code combining multiple payments into one single label.

By accepting NETS QR with an SGQR label, you can pair it with either the NETSBiz App or a NETS Soundbox for instant payment notifications. Customers scan their preferred payment app; you track payments effortlessly and serve the next order with confidence, with zero setup fees.

Beyond serving local customers, NETS QR also helps you unlock new growth opportunities by accepting payments from overseas visitors through supported cross-border payment partners from China, Indonesia, Malaysia and Thailand. This enables you to reach a wider customer base, attract more regional tourists, and grow your business with seamless digital payment acceptance.

For F&B stalls with larger ticket sizes or greater sales volume, a NETS POS terminal is a great fit too. With card and QR acceptance on a single terminal, it helps speed up checkout during rush periods and supports smoother operations when volumes are high.

Whether it’s SGQR label or a POS terminal, NETS offers payment solutions that adapt to your stall’s needs, so you can focus on serving great food efficiently.

Find your perfect NETS solution

Business Type	Key Need	Recommended Setup
Retail / Service	Multi‑payment convenience	NETS POS Terminal
Mobile / Pop-up	Flexibility to use your own Android devices	NETS SoftPOS
Hawker / Coffeeshop (F&B)	Speed & simplicity   Support higher sales volume	SGQR label with NETS + NETSBiz App / NETS Soundbox     NETS POS Terminal

Choosing the right payment method does more than complete a sale. It shapes how customers experience your business and how smoothly your day runs.

Visit NETS Business Solutions to find the setup that best fits your business.