Payments Blog

Gratuity Pay in Kenya: What Is It? Should You Pay It?

April 24th, 2024 by Felix Cheruiyot
gratuity pay in Kenya

Gratuity pay is mandatory and widely applied in some jurisdictions. Does it apply in Kenya? Learn the history, benefits, and calculation of gratuity pay in Kenya.

Similar to various relationships in business and life, your connections with employees will inevitably come to a close. At times, challenging market or economic …

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How To Value A Recurring Revenue Business.

April 18th, 2024 by Felix Cheruiyot
How To Value A Recurring Revenue Business

What impact do metrics like MRR, net revenue churn, MRR expansion, and other revenue indicators have on the valuation of a business operating on a recurring revenue model? Learn how to value a recurring revenue business.

Whether planning an exit, looking for funding, establishing shareholder equity, courting investors, or considering …

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PCI Compliance For Merchants - How To Reduce Card Fraud & Boost Cybersecurity.

April 10th, 2024 by Felix Cheruiyot
PCI Compliance For Merchants

Online merchants encounter various cybersecurity threats, including card fraud, identity theft, and formjacking. This guide on PCI compliance for merchants teaches you how to combat these threats.

According to Statistica, merchants and card acquirers lost more than $30 billion to debit and credit card fraud between 2020 and 2021. …

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Attrition Rate vs Churn Rate - Significance For Subscription Businesses.

April 10th, 2024 by Felix Cheruiyot
Attrition Rate vs Churn Rate

How many of your customers cancelled their subscriptions last month? What were their reasons? Learn why you should know in this deep dive on the attrition rate vs. churn rate topic.

When running a subscription business, it is natural to focus on the rate at which you add new …

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How To Increase Subscription Sales - 5 Proven Strategies.

April 10th, 2024 by Felix Cheruiyot
How To Increase Subscription Sales

Optimising the subscription experience is critical to growing sales revenue and maximising ROI. Learn how to increase subscription sales with these 7 strategies.

Only 20 percent of subscription businesses successfully increase customer retention. Yet the most attractive attributes of the subscription business model—from predictable revenue and steady cash flow …

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Net Revenue Churn: Its Meaning, Calculation & Impact.

April 6th, 2024 by Felix Cheruiyot
Net Revenue Churn

How do you get your revenue churn when your subscriber base is in constant flux, with upgrades, downgrades, and cancellations happening simultaneously? Discover net revenue churn and learn how to calculate it.

Running a subscription business requires an astute understanding of revenue metrics. One of the most critical aspects is …

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Recurring Revenue vs Reoccuring Revenue - Unpacking The Differences?

April 4th, 2024 by Felix Cheruiyot
Recurring Revenue vs Reoccuring Revenue

Recurring and reoccurring revenue share similarities but do not refer to the same phenomenon. Let's settle the recurring revenue vs. reoccuring revenue debate once and for all.

The subscription economy will be a $1,5 trillion industry by 2025, which is not surprising considering that subscription businesses have grown three …

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Payroll Management Accuracy: How Do You Measure It, Why & Using What Metrics?

March 29th, 2024 by Felix Cheruiyot
Payroll accuracy metrics every business should track

Payroll accuracy is essential for legal compliance, employee satisfaction, and financial stability. Discover the 5 metrics you must track to improve it.

Payroll management accuracy metrics and KPIs sound like overused corporate jargon until you experience the effects of inefficient and inaccurate payroll processing firsthand.

I have learned of recent …

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5 Product-As-A-Service Examples & Companies Using The Model

March 7th, 2024 by Felix Cheruiyot
Product-as-a-service (PaaS) examples

Not sure if your product or business is a good fit for the PaaS model? Let these 5 product-as-a-service examples inspire you and show you how the model works.

Business constantly evolves, with entrepreneurs finding better ways to meet customer needs, grow revenue, and become more socially and environmentally responsible. …

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How To Calculate Annual Recurring Revenue (ARR).

March 7th, 2024 by Felix Cheruiyot
How to calculate annual recurring revenue (ARR)

‘If you cannot measure it, you cannot improve it’. Learn how to calculate annual recurring revenue so you can make the right decisions to grow it.

Subscription businesses are highly sought after due to their capacity to generate recurring revenue. Yet, it’s possible to operate a ‘recurring revenue’ company without …

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Circular Economy: What It Means For Businesses & Consumers

March 6th, 2024 by Felix Cheruiyot
Circular economy - its benefits for business and consumers

Shifting from a linear to a circular economic model can be as profitable as it is sustainable. Discover the circular economy and its numerous benefits.

The linear economy is proving to be unsustainable. Research indicates that if we persist with the current take-make-consume-and-discard approach to resource utilisation, we will need …

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What Is Recurring Revenue? [+ 5 Ways To Create It]

March 6th, 2024 by Felix Cheruiyot
what is recurring revenue

Discover the significance of recurring revenue, its advantages, and strategies for cultivating it, as entrepreneurs aspire to foster a loyal customer base that consistently engages in monthly purchases.

What's in a business model? Why would you choose one over another? What's the key attribute of a smart business model?

For …

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Product-As-A-Service Business Model: Everything You Need To Know

March 1st, 2024 by Felix Cheruiyot
product-as-a-service business model

Do you sell physical equipment but feel exhausted from chasing sales every month? Consider pivoting to product-as-a-service business model.

The subscription business model has many benefits, including recurring payments that help you maintain healthy cashflow, more predictable revenue, and stronger customer relationships.

It’s no surprise, therefore, that most software companies …

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Pay-Per-Use Billing Model - Meaning, How It Works & Examples

February 28th, 2024 by Felix Cheruiyot
Pay-per-use billing model - air conditioning

Consumers are exploring pay-per-use as a more equitable pricing model for their subscriptions. Learn more about pay-per-use, its uses cases, and benefits.

According to research, consumers in the USA spend 2.5 times more on subscriptions than they estimate. This is not surprising considering that 42% of those surveyed said …

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What Is The Freemium Revenue Model? (Pros, Cons & Use Cases)

February 24th, 2024 by Felix Cheruiyot
What Is The Freemium Revenue Model

Believe it or not, allowing free access to elements of your digital product forever is a viable acquisition strategy. Discover how the freemium model works.

Marketing new products is challenging and expensive, from finding product/market fit to selling the product. Very few people want to gamble their money on your …

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Loan Disbursements: Definition, Examples & Use Cases.

February 22nd, 2024 by Felix Cheruiyot
loan disbursement

Loans play a critical role in any economy, so their disbursement must be swift and efficient after approval. Learn more about loan disbursements, their types, examples, and use cases.

There are many use cases for disbursements in business. One of these is the delivery of loans - money borrowed to …

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Scheduled Payments: What They Are & Why You Should Use Them.

February 21st, 2024 by Felix Cheruiyot
scheduled payments

Missing a payment can mean losing critical business supplies and disappointing customers. Discover how you can avoid that with scheduled payments.

Do you want a healthy cash flow, with excess funds always available for emergencies?

Or you are the organised type that wants to stay ahead of their to-do list …

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Are Disbursements Taxable in Kenya?

February 20th, 2024 by Felix Cheruiyot
are disbursements taxable in Kenya

Misclassifying expenses as disbursements causes tax issues for your business. Learn what between expenses and disbursements is taxable in Kenya.

Whenever you move value out of your company, you must know your tax obligations. It is a general rule that you are only taxed when you have earned an income …

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Expenses vs Disbursements. What Are Their Differences?

February 17th, 2024 by Felix Cheruiyot
expenses vs disbursements

Confusing expenses with disbursements can have negative implications for your business. Learn the fundamental differences between expenses and disbursements.

On the surface, disbursements may look like expenses. Technically, though, they are not a business expenditure. For the receiving party, they can be easily conflated with regular business income. They are …

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What Is A Digital Disbursement? [Why You Must Care]

February 14th, 2024 by Felix Cheruiyot
digital payments

Digitising your payment systems speeds up your business payments and streamlines reporting and reconciliation. Learn how digital disbursements work.

Picture this. A supplier has to refund you for a defective piece of equipment they supplied. Would you rather receive your money instantly or the next day or the following week? …

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Free Trial Pricing: Low-Cost Customer Acquisition Strategy for Subscription Businesses.

February 7th, 2024 by Felix Cheruiyot
free trial pricing strategy

Unless you are in SaaS, giving your product away is not everyone's idea of a viable marketing strategy. Discover free trial pricing, its benefits, and use cases.

Statistics suggest that up to 92% of SaaS startups fail. The reasons for these failures include insufficient product market fit, poor marketing, and …

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Subscriptions And Memberships - Unpacking The Differences

February 6th, 2024 by Felix Cheruiyot
subscriptions and memberships

While they may appear similar, subscriptions and memberships are different business models. Learn what sets them apart.

The increasing internet connectivity has enabled businesses to operate entirely online. Besides creating completely new industries and producing behemoth businesses like Facebook, Netflix, Spotify, and Amazon AWS, it has reconfigured and pumped life …

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What Information Do Employers Need For Payroll

February 4th, 2024 by Felix Cheruiyot
What Information Do Employers Need For Payroll

The efficiency and accuracy of your payroll process reflect the quality of the information you use. Learn what information you need to process payroll.

Every day, an ambitious entrepreneur sets up a business somewhere in Kenya. Among the items on their long to-do list is hiring employees. They must set …

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Disbursement vs Payment: How Do They Differ?

February 2nd, 2024 by Felix Cheruiyot
What Is The Difference Between Disbursement And Payment

There are important differences between disbursements and payments. Learn how to differentiate and streamline them for your business' success.

You are not necessarily making a payment when money leaves your business bank account. The reason why you are paying out money and the recipient of the payment determines whether you …

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Payment Aggregator vs Payment Gateway - A Quick Explainer.

January 31st, 2024 by Felix Cheruiyot
benefits of online payments for businesses

Learn the difference between payment aggregators and payment gateways and which between them offers your business the best payment and cost efficiency.

Accepting customer payments on your e-commerce website or application instantly expands your total addressable market. This includes people outside your local town and even those beyond your national …

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Who Is Responsible For Payroll Errors?

January 24th, 2024 by Felix Cheruiyot
Who is responsible for payroll errors 1

When costly mistakes happen at the workplace, people want to avoid blame. Learn who is responsible for payroll errors and how to handle them.

Payroll mistakes are costly for the company and cause distress and hardship in employees. However, as payroll errors may stem from various individuals across different departments, …

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What Is The Difference Between Company Payroll And Third Party Payroll?

January 23rd, 2024 by Felix Cheruiyot
online jobs that pay through M-Pesa

You can pay workers directly or through a third party. Learn the difference between company payroll and third party payroll and the pros and cons for each.

In the realm of workforce compensation, the method of disbursing salaries holds significant financial and operational implications. This article delves into the nuances …

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Payroll Errors: What They Are, Causes & Fixes

January 23rd, 2024 by Felix Cheruiyot
Who is responsible for payroll errors

Payroll errors cause discontent among staff and pose compliance risks. Learn what payroll errors are, who is responsible for them, and how to fix them.

Employees rightfully feel disappointed when their payslips reflect a smaller net salary than what they were owed for the month. Especially if it turns out …

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What Happens If A Company Can't Make Payroll?

January 17th, 2024 by Felix Cheruiyot
What Happens If A Company Can't Make Payroll

The promise of a regular paycheque is why your employees turn up for work every day. Learn what happens if a company can’t make payroll.

Conventional theory will tell you that money is not the best motivator for most employees. But there aren’t many people who will keep working if …

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Mastering Salary Disbursements: Automation and Efficient Payment Methods

January 15th, 2024 by Felix Cheruiyot
salary disbursement

Automating salary disbursements ensures speed, efficiency, and enhanced security. Discover the best salary payment methods and tools for automating salary disbursements.

Employee attendance relies significantly on timely salary disbursements. Delay or fail to pay them when due and they could down tools.

Where salaries are routinely paid late, workers find …

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E-Payments Explained - Meaning, Types & Benefits for Businesses.

January 15th, 2024 by Felix Cheruiyot
e-payments

‘Cash is king’ may soon be a redundant phrase thanks to the growing popularity of e-payments. Learn why digital payments are now the norm in business.

Africa lags the world in digital payments absorption, with the notable success of the M-Pesa mobile payments platform marking Kenya as an exception.

Even …

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Disbursements: Meaning, Purpose & How to Streamline Them

January 10th, 2024 by Felix Cheruiyot
What are business disbursements

Disbursements are an essential part of every business’ payment apparatus. Learn what they are and how to streamline them and boost your cash flow.

There are several ways money flows into, within, and out of your business. Of particular importance is how money flows out of your business. All of …

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Subscription Marketing - How to Promote Your Subscription Product

December 11th, 2023 by Felix Cheruiyot
Subscription marketing

Subscription marketing refocuses the consumer’s mind from solving their problems to having them taken care of forever. Learn how to promote your subscription product.

The subscription market is reaching saturation point in the West. Meanwhile, it's in its infancy in Kenya and the rest of the developing world.

While this …

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How Billing Automation Can Improve Cash Flow

December 6th, 2023 by Felix Cheruiyot
How billing automation can improve cash flow

If cash flow is king, ensuring you get paid on time is key to running a successful business. Learn how billing automation can improve cash flow and keep things ticking over nicely at your business.

Cash flow is the movement of money in and out of a business. It measures …

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9 Must-Have Elements Of A Good Billing System.

November 29th, 2023 by Felix Cheruiyot
elements of a good billing system

A complex, inefficient billing process will sink your business no matter how good your product is. Learn the 9 essential elements of a good billing system, and why it’s crucial to your business’s success.

Even though it’s the part where you get paid, you didn’t start your business excited at …

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Dunning Automation - Meaning & Impact On Revenue Recovery

November 29th, 2023 by Felix Cheruiyot
dunning automation

Dunning automation can help businesses save time and money by automating debt collection. Learn the meaning and impact of dunning automation on revenue recovery.

Something we don’t sign up for when we start a business but is a reality of running a business is that some customers will not pay …

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What Is The Billing Process? [Steps, Purpose & Tips]

November 25th, 2023 by Felix Cheruiyot
what is the billing system

Billing is an integral part of any business that ensures you generate revenue and stay afloat. Learn what the billing process entails and how to streamline it.

The struggles of many small to mid-sized businesses are directly tied to the billing process. In short, they cannot get their customers to …

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7 Most Common Billing Mistakes And How To Avoid Them

November 22nd, 2023 by Felix Cheruiyot
Common business errors

Billing errors lead to delayed payments, lost revenue, and damaged customer trust. Discover the seven most common billing errors and how to prevent them.

The number 1 reason small businesses fail is cash flow problems. Cash flow is measured in the ability to pay your bills. But before you pay …

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How to Automate Billing And Get Paid Faster

November 21st, 2023 by Felix Cheruiyot
How to automate billing

Manual billing is costly, time-consuming, and gets more challenging as your business grows. Learn how to automate billing to get paid and scale faster.

As many business owners will testify, doing the work - providing the service or supplying the ordered goods - is the easy part. Getting paid? Not …

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Subscription Billing vs Recurring Billing - What’s The Difference?

November 18th, 2023 by Felix Cheruiyot
subscription billing

Recurring billing is often mistaken for subscription billing. Find out where they differ as we unravel the subscription billing vs recurring billing confusion.

Every business experiences periods of market turbulence where sales may slow down. Recurring payments can cure this by their ability to generate predictable revenue.

You can say …

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Billing Automation - Meaning, How It Works & 9 Benefits for Businesses

November 16th, 2023 by Felix Cheruiyot
Billing automation benefits

Manual billing is inefficient, costly, prone to errors, and can cause revenue leakages. Discover how billing automation solves these issues and boosts revenue.

Billing is an essential task that every business must tackle accurately to ensure profitability and long-term success. But as critical as it is to revenue collection, it …

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Can You Sell Subscriptions On Shopify? [Guide]

November 15th, 2023 by Felix Cheruiyot
Can you sell subscriptions on Shopify

Adding subscription options to your e-commerce website is bang on trend. But how easy is it on Shopify? Can you sell subscriptions on Shopify? Read to learn how.

Adding subscription options to your Shopify store helps to shore up flatlining sales, build a loyal customer base, and establish a predictable …

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Is The Subscription Model Right For Your Business?

November 13th, 2023 by Felix Cheruiyot
Is the subscription model right for your business

The subscription model fits most businesses, but a few aren’t a good fit. Learn how to separate these and successfully implement subscription pricing.

This is well and truly the age of subscriptions. Every other business and industry is shifting away from one-time purchases, drawn by the many compelling benefits of …

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What Is A Subscription Plan?

November 6th, 2023 by Felix Cheruiyot
what is a subscription plan

Your target customers will rarely be a homogenous mass that you can target with one subscription plan. Learn what a subscription plan is and why offering more than one option is good for business.

The subscription business model has become a popular way to quickly deliver products and services your …

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Subscription Pricing Strategy: How to Price Your Subscription Service.

November 1st, 2023 by Felix Cheruiyot
subscription pricing strategy

Your subscription business will fail unless it is profitable and generates sufficient revenue. Learn how to formulate an optimal subscription pricing strategy for your business.

The subscription business model has proven to be effective at driving revenue. It enables automatic billing, ensures a steady stream of predictable revenue, and offers …

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Subscription-Based Software - Definition, Business Case & Examples.

October 31st, 2023 by Felix Cheruiyot
Zoho software subscription billing plans

How you monetise your software determines how much revenue your business will generate. Learn the business case for subscription-based software and how it can help you maximise your revenue.

There used to be only one way of selling software. That is through a perpetual licence where customers make a large …

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How to Choose Software for Subscription Management - Guide

October 24th, 2023 by Felix Cheruiyot
How to choose software for subscription management

The right subscription management software can supercharge your e-commerce business’s growth. Learn how to choose software for subscription management.

The subscription e-commerce market is expected to grow to $196.35 billion in 2023. This boom is attracting entrants from all manner of industries.

Following the subscription business model, whether it …

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10 Benefits of Using Subscription Management software.

October 21st, 2023 by Felix Cheruiyot
Benefits of Using Subscription Management software.

There is a lot involved in running a subscription business. Discover the benefits of automating your tasks and processes with subscription management software.

There’s growing appeal for starting a subscription business or offering subscription options in your business. Among these are automated billing and recurring revenue, which improves business efficiency …

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Subscription Management - Meaning, Components & How to Automate It

October 18th, 2023 by Felix Cheruiyot
subscription management

There’s more to running a subscription-based business than automatic billing and recurring payments. Learn more about subscription management and how to optimise it.

Part of the allure of the subscription business model is how it can automate billing, which reduces labour costs, improves billing accuracy, enhances payment security, improves sales …

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Subscription Billing - Definition & How to Choose the Right Pricing Model

October 16th, 2023 by Felix Cheruiyot
subscription billing

Subscription billing enables recurring payments and auto-renewals, which increases sales and improves revenue forecasting. Learn more about subscription billing.

The subscription business model, or subscription billing in short, is no longer the domain of SaaS companies. Companies in other industries are realising the profound benefits of automating billing and collecting …

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