Payment / Tender types are the different modes of payment that the customer can use to complete the transaction. For example, Cash, Credit/Debit Cards, UPI, etc., are some payment modes used while billing.
Benefits of using Payment modes:
Adding new payment modes gives the customers a sense of freedom of paying through their desired payment type
Having different payment methods, allows them to make a split payment while billing
If many payment types are added, then there is no restriction that the user should stick to just one payment type. For example, if the swipe machine is not working, they can choose the other payment options
How to add new Payment modes?
Step 1:
In the home screen, go to Settings --> Organization --> Payment Types.
Step 2:
A list of existing payment modes will be displayed. For creating a new payment type, click on Add Payment Type.
Step 3:
Enter the name of the payment type.
Step 4:
Enter the type of payment if it is Cash/Card/Coupon.
Step 5:
Enter the Tender availability. This feature allows you to choose if this payment type is applicable in POS/Online Store/Both.
Step 6:
After entering the details, click on Save.
Now, the payment type has been saved successfully.
Thus, we can create several payment/ tender types, giving customers' a handful of options to make their billing easier.