"Payment methods" refer to the various types and conditions of payments agreed upon between parties. This includes aspects such as the timing of payments, the method of payment (cash, bank transfer, credit card, etc.), and, if applicable, installment payments or discounts.
Typical features of software in the payment methods domain could include:
Set Payment Due Dates: The software allows for setting due dates for payments to ensure they are made on time.
Diverse Payment Options: Support for various payment methods such as cash, bank transfer, credit card, direct debit, etc.
Installment Payments: Features for managing installment payments when agreements for staggered payments are made.
Discounts: Integration of discount options for early payment discounts if provided in the payment modalities.
Automation of Payment Processes: Automation of payment processes to facilitate recurring payments or billing.
Customer Communication: Features for communicating with customers regarding payment modalities, payment reminders, or specific instructions.