Charge Card — the Next Level of Coworking Payment Methods Usability
Payment collection is one of the greatest concerns for coworking managers as revenue growth is critical for every business. They strive to make it as convenient for residents as possible. If you share the same issue, this article will be rather helpful as here I am going to tell you about one small step towards user-friendly payments that makes a huge difference.
Every coworking center is looking for ways to automate payments. Some of them decide to purchase a coworking space management system with built-in billing and invoicing tools, others rely on professional solutions integrated into the main workspace app.
The problem with non-professional invoicing instruments is that almost every European country has its own regulations for financial documents. So, there is no guarantee that your files will be shaped up correctly. An experienced accountant will sooner refuse to use such a tool and continue with some credible products like Xero or Quickbooks if they don't want to get a penalty from the local tax authority.
We, at andcards, believe that there is no need to reinvent the wheel, that's why we offer our customers integrations with best-of-breed apps that they already know and love, that they already use or want to use to manage their coworking space.
Our integrations include local and international payment systems (Stripe, KakaoPay, Flow) to make your residents' lives easier and your revenue higher with the possibility to book meeting rooms via mobile apps even when they are out of credits.
From this section, you will get to know the logic behind andcards' Charge Card. It is really simple and familiar, similar to a credit card when you use service now and pay later.
We use the "Charge Card" term instead of a common bank "Credit Card" to prevent misunderstanding.
A charge card is a type of electronic payment card that charges no interest but requires the user to pay their balance in full upon receipt of the statement, usually on a monthly basis.
As you see, the definition is pretty straightforward. The consumers got used to paying their monthly bills, so the system works well for them. Especially if we talk about companies. When teams run out of credits, they don't need to settle this down with the leader each time a meeting room is needed. They can just select Charge Card as a payment method and complete reservation. The payment statement will come to the manager's inbox at the end of the month.
Charge Card is not an entirely new andcards feature. The functionality was previously available for companies as Team Invoice. As our website is undergoing a complete rebranding, some of our solutions are being improved along the way. Team Invoice is one of them.
After analyzing feature performance, we arrived at the conclusion that it is underused, so we decided to change boring “Team Invoice” to “Charge Card” to improve the situation by making the payment method more appealing to consumers.
- Increase the rate of card payments for team invoices.
- Redesign the payment method for user-friendliness and fun to use.
- Use familiar concepts for users that are easier to understand.
- Improve the user experience of using the payment method.
- Lay a foundation for future feature development.
Now, when you know the background of Charge Card appearance, let's see how it works.
When a team member wants to book a meeting room but has no credits, they can choose Charge Card as a payment option and make a reservation.
Selecting the “Charge Card” on the Membership page will open a brand new page.
- Metaphoric 'charge card' with network color and name.
- 3 buttons to visualize overview: This month accrued amount — Previous Month (“Pay” button shown after invoice finalization) — Monthly Activity showing last 6 month expenses.
At the end of the month, the administrator of the coworking space just clicks the "Send" button to request payment from the team manager. The team manager gets the Statement right to their inbox and clicks "Pay" button after reviewing it.
The team manager has two payment options — Card and Bank Transfer. If they choose to pay with card, the payment is processed via our Stripe or KakaoPay integration. If they choose Bank Transfer, the payment is processed outside the app.
Pretty simple and extremely usable, isn't it?
Charge Card has not only a super cool interface with metaphoric card and graphs. It adds a touch of fun and gamification to meeting room booking automation elevating usability of your services to the next level, unreachable for your competitors.
Would you like to know more about this and a plentitude other unconventional solutions andcards can offer to your workspace? Schedule a demo call with us!