Leaving a steady job that pays well in order to be your own boss is both exciting and scary.
The work landscape in India is changing as more and more people are quitting their cushy jobs to earn a living by doing something that they are passionate about.
The growth of India’s freelancers market is the second-fastest in the world. There was a 46 percent rise in freelancers between the first and second quarters of 2020.
While freelancers enjoy doing what they are good at, the honeymoon period soon wears off when they have to indulge in managerial tasks. Things like remembering to raise invoices for different clients, where rates vary from one customer to another, can take a toll on freelancers’ already busy work schedules.
Their problems don’t just end there, freelancers also have to spend a large chunk of their time tracking payments from different clients.
Digital payment tools for freelancers
The freelancing industry is infamous for delayed payments from clients who often ghost freelancers once the work is done.
Freelancers face delays in payments even from clients who do have the intention of paying because of the billing cycle the company follows. In such a scenario, freelancers have to make a note of each company’s unique payment cycle and raise the invoice accordingly.
With so many permutations and combinations to take care of, content creators and freelancers should pay extra effort to manage their payment collection system.
How independent professionals can use Paytm for Freelancers
One of the biggest challenges of running one’s own show as a freelancer is that every other aspect of business has to be arranged personally. It’s only when everything has been set up, one can relax and concentrate on their work and stop worrying about payment-related arrangements.
This is why we created a specific product called Paytm for Freelancers so that they can concentrate on their work rather than figuring out different ways of collecting payments.
These are the few ways how freelancers can manage the collection of payments using Paytm for Freelancers:
- Payment links: Sending bank details such as the 12-digit account number and IFSC to every client takes a lot of time and is prone to human error. Freelancers can easily do away with this by simply creating a short payment link on the Paytm for Business dashboard or the business app.While creating the payment link they can input their bank details once and send out the link to different clients via email, SMS, or WhatsApp. It’s easier for clients to pay via these payment links as Paytm Payment Links works seamlessly with all payment modes.
- Payment invoices: It’s crucial for freelancers to look professional not just in their work but how they manage their non-core activities such as billing and raising invoices. Creating invoices can be tricky for freelancers who have never made one. Paytm Payment Gateway makes this process quite simple and straightforward.One just needs to enter customer details, the total amount including tax, and other information related to the services offered. And voila, the payment invoice is ready to be sent by any communication means.Mind it, that it’s not a simple invoice. Freelancers can track their payment status and get in-depth business analyses of all the previous payments collected via Paytm.
- Collection from international clients: It’s quite usual now for freelancers to accept gigs from foreign companies. However, accepting payments from international bank accounts is cumbersome. There is no need to let go of these opportunities on the account of not being able to accept payments. Just use Paytm to start receiving money from over 200 countries.We automatically do the currency conversion and show the actual amount that one will receive post deductions if any. Freelancers can receive money from any currency directly into their Paytm Wallet or Paytm Payments Bank account.
- Subscription business: The creator economy is largely led by subscription-based services such as newsletters or bite-sized online courses. However, having a payments mechanism where content creators can accept recurring payments from loyal subscribers is still a challenge.Paytm Subscriptions has solved this issue with a dedicated solution for artists who rely on paying subscribers. Without creating a website or app one can offer subscription links to customers, which accepts payments via credit and debit cards, net banking, UPI, and digital wallets.
It supports different business models to align with content creators’ business plans. One can offer a free trial and post that can start collecting payments automatically from subscribers who wish to continue.
Features of Paytm for Freelancers
Among dozens of digital payments products, Paytm for Freelancers is unique in its approach.
It resonates with the needs of freelancers, content creators, individuals who run home-based businesses, and gig workers.
Paytm for Freelancers is meant to portray freelancers as professionals who mean business. Companies have a sharp eye for these small yet important traits in independent professionals to decide whether they want to continue working with them.
These are the few features of Paytm for Business that can provide freelancers the jump in their journey that they rightfully deserve:
Various payment options: Paytm’s payments products allow freelancers to give clients all payment modes such as UPI, netbanking, debit and credit card, and digital wallets like Paytm Wallet
Same-day settlements: Freelancers don’t have to wait for days to receive money online. Paytm reconciles payments in a day irrespective of any holiday. One can also receive money the same day for a little extra charge
Tracking payments: Get instant updates from the dashboard or the Paytm for Business app on the status of different payments
Free payments collection: Freelancers can accept payments from clients for free by appending their UPI account with Paytm Payment Links
No compromises with Paytm for Freelancers
Since you have taken the decision to earn your living by following your passion, make your life easier with a dedicated payment gateway that can handle all your requirements.
Our product, Paytm for Freelancers has identified all the payment woes freelancers face and has solved them all. The best part is that freelancers can access all the solutions from a single platform. Start using Paytm for Freelancers and change the way you collect payments now.
