Many businesses prefer to send make payments by cheques. Singapore has one of the highest usage of cheques per population among the developed countries.
Why do businesses avoid using electronic payments? Here are some reasons:
a) To make payments, they have to allow the employee to log into the online bank account. The employee can view all the entries in the bank account. The boss may not like to provide this access.
b) The online platform of the bank is difficult to navigate. It provides many functions that are hidden by layers of hyperlink. Some of the functions are confusing.
c) It is quite troublesome to log into the online bank account. The user has to provide several codes and passwords, including a 2FA token.
d) After making payment, the user has to notify the payee that the payment has been made electronically.
Due to the troublesome nature, many businesses continue to send payments by cheque.
I have developed an online portal that makes it easy for businesses to make electronic payment. It reduces the work for the staff significantly. It automatically sends out an email to inform the payee about the payment.
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