Helcim's Innovative Merchant Funding System
Helcim has introduced an exciting new system called gross deposits, which changes how merchants handle their finances. This novel approach to funding allows businesses to receive their money in a more straightforward manner. Unlike the traditional net deposit system—where fees are taken out before funds are deposited—gross deposits ensure that merchants get their total sales amounts deposited directly into their bank accounts. The associated fees are deducted on the same day, providing increased clarity and making tracking easier.
Enhancing Financial Management
This important development comes from insights shared by merchants looking for a better financial experience. Helcim's gross deposits aim to streamline the reconciliation process, helping businesses keep accurate financial records. With clear and easy-to-follow financial data, merchants can now eliminate the confusion that often arises from mixed entries or unclear deductions.
Why It's Good for Small and Medium-Sized Businesses
With a deep understanding of the specific needs of small and medium-sized businesses, Helcim has customized this system just for them. With gross deposits, these businesses can easily track their daily earnings. By knowing the exact amounts being deposited, merchants can manage their finances more effectively, staying agile and responsive to their needs.
Giving Merchants More Transparency
Nic Beique, the CEO of Helcim, believes that the introduction of gross deposits is all about empowering merchants. "We designed gross deposits to give our merchants more control and transparency, which helps them manage their finances more successfully," he said. This new feature tackles key issues and positions Helcim as an attractive option for businesses considering switching payment platforms without disrupting their existing accounting practices.
Transforming Payment Experiences
As numerous businesses rely on Helcim's services, the gross deposit system is poised to greatly enhance the overall payment experience. By focusing on clear financial reporting and consistent funding, Helcim continues to earn the trust and loyalty of clients from various industries.
About Helcim
Helcim aims to be the preferred payments company in the world, equipping small businesses with essential tools for success. By offering a smarter, more accessible payment experience that includes a personal touch, Helcim supports countless businesses across Canada and the US. These businesses trust Helcim to process billions in payments each year, covering 800 different industries.
Frequently Asked Questions
What are gross deposits?
Gross deposits are a new funding system launched by Helcim that allows merchants to receive their full sales amounts without fees being deducted upfront.
Who benefits from the gross deposit system?
This system particularly helps small and medium-sized businesses by providing clarity in financial reporting and predictable funding.
How does this change impact financial management?
The gross deposit system simplifies reconciliation and gives merchants a clear overview of their daily earnings, which improves financial planning.
What are Helcim's goals with this new feature?
Helcim aims to empower merchants with more control and transparency over their finances, addressing previous pain points within the payment process.
How can I find out more about Helcim's services?
To learn more about Helcim and its offerings, you can visit their official website.
