with the right product or service, even a small person can take on their competitors and win. However, in order to compete against the big guys, small business owner must be able to offer customers the same benefits offered to other retailers. One of the biggest benefits you can offer your customers? Accepting card payments. And with the development of merchant accounts, this step is easier than ever.
As a business owner, you can set up a merchant account through bank or card company or other payment processor. There are three types of merchant accounts to consider:
As a small business owner, you have to explore that a merchant account is right for your business and find a company that is the right fit. Look at the fees you will be charged on the transaction, ask questions of the company and ask others in your line of work that make them choose. You will be paying money for the service, to make sure it meets your needs.
Some small business owners can still struggling with why they have to accept credit cards. After all, they must pay a fee for processing each time the customer is a plastic payment. Here are five big advantages for business owners who accept credit cards:
1 In the long run, you will earn more money by accepting credit card payments than what you pay processing fees. Studies show that when people can pay with a credit card, your order will be greater than if they paid cash. One study by a reputable accounting firm PricewaterhouseCoopers estimated that the average credit card to up to three times the size of orders paid by cash or check. Customers - the online store fronts - you want to be able to pay with a credit card and they will reward their cash for the privilege
.2 Dealers and customers will experience real-time processing. Transactions are completed automatically and immediately. If time is important for your business, it can be a real dar.Transakcija performed and the products and services (or to confirm the product or service) is delivered within a few minutes. However, if your job involves online sales - which means it does not deliver products or services over the Internet - You May Prefer deferred processing. This allows you to review orders for accuracy before charging credit cards and shipping. And if your online system goes down, delayed the system will not take place until the sale because the buyer was not on-line waiting for confirmation.
3 Credit cards are not just a convenience for customers. They are also benefits for merchants, which technically can remain open for business 24 hours a day, seven days a week. If you operate your business out of California, the client on the east coast does not need to wait three hours to wake you to place the order. It was commissioned and paid for before they even got out of bed.
4 Credit card processing can mean fewer trips to the bank for deposit or to deal with bounced checks. You no longer have to wait to see if the check will clear, because the payments are usually guaranteed by credit card companies.
5 Expand your customer base by adding online components to your business - one that accepts payments via credit card. Even if your local store, you should have an online presence. With the right code words, your site can be the first pop-up with the goods requires someone across the country. This customer does not need to reach your store pick up and pay for the product -. And you, the merchant, just expanded your customer base