Freelancing market size is booming, let alone the Indian freelance market which is estimated to touch USD 25 billion by 2025. On an average, freelancers work up to almost 40 hours a week; 160 hours a month and earn an average income of INR 20 lakh per annum. Statistics say that 60% of the freelancers are under the age of 30. Thus, freelancing is also helping youngsters to become financially independent at a young age.
But freelancing life isn’t easy and it’s no less than managing a business. The only difference is that a single person is handling the entire business, right from searching for the right clients, getting contracts signed, the work, maintaining the brand and finally, reaping the fruits of the hard-work – the paycheck!
Doing what you love as a freelancer comes with various challenges even when there are flexible working hours. Sometimes payment challenges like lack of knowledge of GST (since unregistered businesses and freelancers also come under GST laws), irregular and late payments, problems in branding themselves, absence of digital payment solutions etc.
These kinds of challenges make it difficult for freelancers to accept payment online and can sometimes lead to unpredictable financial crisis. 58% freelancers have reported to receive no payment for their projects at one time or the other in their careers. Thus, freelancers spend a lot of their time and energy chasing clients for projects and then chasing them for timely payments.
Like every other sector these days, the freelancing sector is turning to digitalization of their personal business – from using social media presence to their leverage to building their brand and eventually using freelancer payment solution to accept payments online. The various methods freelancers use to collect payment online are as follows:
- Payment links: You can share the payment links through any channel with your clients and get your hard-earned payment instantly. You can generate GST compliant invoice, track payments, have customizable pricing slabs for products, customizable offers/coupons, a single dashboard for all the reconciliations and refunds etc with freelancer payment solutions like Easebuzz to accept payments online in an easy and hassle-free manner.
- Payment Gateway: Payment gateway providers in India like Easebuzz are simple to integrate, have security features and they are built to support freelancers in scaling their personal brand. There are more than 100 payment methods that can all be tracked under a single dashboard along with some advanced analytics. These features are for freelancers to easily accept payment online and also to track their finances.
- Web Store: These days, freelancer payment solutions not only ease the process to accept payments online but also allow freelancers to create products like event tickets, digital items, subscription based services with free integrated payment gateway providers in India. You can also connect and share your webstore link through Easebuzz which is one of the best freelance payment solutions.
- EasyCollect: It is a simple API that can be integrated with any software that reads the due date of subscription payments and auto-generates payment links for all the products at once. It sends customized e-mails and SMS reminders to the customers just before the due dates so that customers can pay anytime, anywhere and from any device.
- Smart Billing: It is an invoicing solution with recurring payment capabilities to collect payment online from the clients who use your product/services on a regular basis. It can also be used to take fixed rentals from the subscribers. With Smart Billing facilities in Easebuzz, freelancers can split payments to allow customers to pay in installments, add GST details and provide discounts, download PDF versions of invoice and send it separately, replicate/clone the invoice according to the requirements etc.
- Become a Reseller: Get rewarded for offering payment services to your customers like accepting, managing and disbursing online payments with ease. Easebuzz provides unmatched support to its channel partners for acquiring merchants. Become an Easebuzz Reseller partner today and start earning money easily. Anyone including freelancers, individuals, agencies and consultants can become a reseller with Easebuzz.
There are several other features that are available in Easebuzz like solutions for freelancers to accept payment online. Now you as a freelancer can empower your brand by integrating freelancer payment solutions like Easebuzz for your brand/website.