Small Business Credit Card Processing
Small-business owners must do all they can to maintain a competitive edge in a challenging economy
, as consumers focus on spending less while the cost of running a business remains high. The ability to accept credit cards for business has become extremely important in increasing profits, as consumers rely more on credit and debit cards to make purchases large and small, online and in-person.
The convenience of a simple swipe, combined with the security and control gained from using credit cards, has led consumers to carry less cash and use plastic for everyday spending. Read on to learn more about the benefits of a small business merchant account and credit card processing solutions.
Why Accept Credit Cards:
Merchants with small businesses may be hesitant to accept credit cards, whether they are unsure if their business is large enough to benefit, or they believe the cost of credit card terminals and Payment Card Industry (PCI) compliance is too high. Small business merchant accounts, however, provide the opportunity for businesses to expand and grow, improving cash flow while cutting costs and time associated with traditional payment methods.
For example, recurring billing is a payment processing solution that reduces paper mailing and invoicing costs, and allows customers to set up payment reminders and manage their own account. When customers have flexible payment options, they are often more likely to make larger purchases that they wouldn't otherwise make with cash payments.
Online Credit Card Processing:
The Internet has become a powerful platform for shopping, paying bills and even ordering food. With a small business merchant account, merchants can expand their market by accepting payments online. By creating a strong online presence, customers can access a merchant's services and products from anywhere. Increasing sales and profits becomes as simple as a click of a button, and with security features such as tokenization and address verification systems (AVS), customers' credit card data is protected from the moment their information is sent.
Keeping Customers Happy:
Customer satisfaction is crucial to business growth. Customers want flexibility and options when it comes to making payments, and when they cannot pay the way they'd like to, they simply will not make the purchase. Limiting the types of payment you can receive also limits your customer base. With a merchant payment processing account, you can attract new customers with gift card programs, and keep returning customers coming back with loyalty cards and rewards programs.
Achieve your business goals with a small business merchant account, and always be ahead of the game.
by: Julie Henaghan
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