Tide

Here are the key features of Tide’s payment solutions for businesses in the UK:

Invoicing

This feature allows businesses to create, send, and manage professional invoices directly through the Tide platform. It helps streamline the billing process, especially for businesses that provide services or have vendors and suppliers to bill. The number of free invoices depends on the type of business account you have. And these invoices can easily integrate with the platform’s accounting tools.

Various Methods of Payment

Whether you’re signing up for the card reader or want to accept payments online, Tide’s merchant products and services are compatible with a wide range of payment methods. You will be able to accept credit/debit card payments (Visa, Mastercard, and American Express), bank transfers, and mobile wallets (Apple Pay and Google Pay).

Tap to Pay on iPhone

This service enables merchants to accept contactless payments from credit cards, debit cards, and digital wallets (like Apple Pay) directly on their iPhone. It eliminates the need for separate hardware, such as a card reader. All you need is an iPhone with the Tide app and the Tap to Pay iPhone subscription. It’s a secure way to process in-person transactions on the go.

QR Payment Codes

Businesses can generate unique QR codes that customers can scan with their smartphone camera to initiate a payment. This offers a fast, simple, and contactless way to receive funds, which can be used in various scenarios, from market stalls to printed invoices. Customers can then pay with a card, wallet, or bank transfer.

Payment Links

This feature simplifies online payment requests by allowing users to generate a secure URL for a specific amount. The link can be shared with customers via email, text message, or social media. It’s a straightforward method for collecting payments without needing a traditional e-commerce checkout system. It can also be helpful for one-off payments from vendors.

If you want to accept in-person payments with a card reader, you can buy Tide’s proprietary card readers. It offers two choices:

• Tide Card Reader: A small device with a touchscreen that accepts contactless payments and connects via WiFi and 4G cellular network.
• Tide Card Reader Plus: A slightly larger device with a printer and paper roll to print receipts. It also connects via WiFi and 4G networks.

Hardware must be purchased separately from the business account service. But it’s a one-time fee (no monthly rent or subscription).

For those who want to accept payments through their mobile device, Tide’s ‘Tap to Pay’ service works with iPhones. It doesn’t yet offer an Android version of this service.

The Tide platform and web app can be accessed via browsers on both Windows and Mac.

The POS system doesn’t work with third-party readers.

The Tide platform integrates with accounting software, like Xero, ReckonOne, QuickBooks, FreeAgent, Sage, Coconut, Crunch, ClearBooks, and KashFlow.

Tide also offers its own accounting product, Tide Accounting, that integrates with the main business account offering for managing expenses. There are several tiers in this service with varying features to suit business needs.

Additionally, Tide offers other business management tools, including Payroll, Company Expense Cards, and Workforce Management.

Tide is consistently praised for its ease of use, which is a central pillar of its business model designed specifically for SMEs and sole traders. The platform offers an intuitive user interface within its mobile and web applications, which lets business owners handle essential tasks like opening an account, making payments, and managing expenses with minimal friction.

The platform, overall, is user-friendly with all products and services centralized. But again, that depends on what you’re subscribed to.
As far as merchant services are concerned, the card readers and the mobile app for handling payments are super easy to use. The software/app has easy and fast navigation with a minimal learning curve.

Also, the integration of all financial tools, from core banking functions to invoicing and expense management, into a single, unified app simplifies the overall financial administration.