Short YouTube advice video (Eric Deeran) recommending that service providers keep clients' payment cards on file so they can charge clients immediately rather than waiting for invoice payments. The speaker argues this practice reduces delays in receiving payments and avoids long waiting periods for client-initiated payment.
I can't tell you how much money my business has made and our clients businesses have made by simply just having the card on file and pulling it. Because what other people do is they'll send the invoice and then they have to wait a million years for the client to actually pay it. And then you're waiting around, waiting around, waiting around. And you don't have any sort of way of like actually getting that payment in. So you want to make sure that you have that on file. If you do not have that on file, you do not want to wait for the client to decide to pay you, because then you could be waiting a while there.
