Merchant Services

Discussion in 'Credit Card Processing' started by Emma Megan, Nov 28, 2018.

  1. Emma Megan

    Emma Megan New Member

    Merchant services are extremely helpful for working more efficiently with funds. With a merchant account, payments are easy to manage online, handling transactions quickly and securely. This also means that there’s no need to waste hours on counting cash earned throughout the day, as payments are recorded in accurate amounts via an electronic channel.
     
    Last edited by a moderator: Nov 28, 2018
  2. Charles T

    Charles T Administrator

    @Emma Megan Good point about not having to count cash!
     
    Emma Megan likes this.
  3. Emma Megan

    Emma Megan New Member

    Thanks for the appreciation
     
  4. Emma Megan

    Emma Megan New Member

    Easy and quick transactions enable the clients to always have stable cash flow in their account irrespective of the day and time. From ecommerce websites to travel firms, restaurants, pharmacies to retail store, non-profit organization and more, seamless card processing solutions are made available to every industry type.
     
    Charles T likes this.
  5. Emma Megan

    Emma Megan New Member

    June 1st, 2018
    4 Impeccable Reasons Why Credit Card Processing For Small Business Is Important
    1. Legitimize your business. Reputation is the foremost important thing for a business to prosper. When you will accept card payments your business will be automatically considered as authentic and more importantly legitimate. You can of course better place yourself in market with more logos of credit cards that your business accepts. It gets much easier to draw attention of both your clients and prospects with display of acceptable credit cards.

    It is fool proof way of establishing your business in minds of your audience with high levels of trust and legitimacy.

    2. Expand your customer base. For a thriving business it is important that you have growing customer base. Taking up credit card processing services will attract larger number of customers as they will know shopping with you is not even convenient but secure too.

    It is high time that you switch to card payment from cash. It may interest you to know that more than 50 percent of Americans carry no more than $20-30 cash with them. While 10 percent tell that they do not carry any cash. From this you can very well understand that if you accept payments through cash only you are limiting your customer base. On the other hand if you provide modern and digital payments they are not going to leave you easily.

    3. Boost sales and revenue. Customers spend more money when they have the liberty to use any of the cards they hold. This directly increases the possibilities of increasing sales along with the increased average ticket size. Customers in America and even over the world are found more willing to spend with credit card acceptance.

    Surprisingly it has been found that customers are even okay to pay more for the same product with card.

    4. Ensure security. Accepting card payments enable the merchants to have a control over bad checks. You can simply minimize the chances of dealing with bounced or bad checks when you are open to accept card payments. Moreover a great deal of time and efforts often wasted to track down the customer to pay for your goods and services will be saved.

    The best part from the merchant’s point of view is that upgrading your business to accept card payments is not at all expensive. It is a misconception if you think these services burn hole into pockets of the businessmen. With myriads of merchant account service providers active in market you have bright chances of signing a prosperous deal for your unique business needs.

     
    Last edited by a moderator: Dec 11, 2018 at 2:25 PM
    Charles T likes this.
  6. Charles T

    Charles T Administrator

    - "It may interest you to know that more than 50 percent of Americans carry no more than $20-30 cash with them. While 10 percent tell that they do not carry any cash."

    Interesting stat. I certainly believe it, based on my experience. Do you happen to have the source handy for those figures though? Curious how they arrived at those numbers.


    - "Surprisingly it has been found that customers are even okay to pay more for the same product with card."

    Also have seen this many times. A good point.
     
    Emma Megan likes this.
  7. Emma Megan

    Emma Megan New Member

    Types of Merchant Accounts


    Retail Credit Card Processing

    Merchants involved in conducting face to face business have to accept credit card processing. No matter they own a restaurant or store, established service providers can help them to setup merchant account & accept credit cards at price less than imagined.

    Change in technology means changing the retail tool. On that note, it is important to consider questions, such as –

    • Whether or not your terminal is PCI compliant?

    • Is your terminal compatible to accept latest types of payments, such as EMV?

    Industry best service providers allow setting up the business with the advanced equipment to accept all the latest payment options like Mobile Wallets and EMV.

    Online Credit Card Processing

    If you have an online store or have an e-commerce website, online credit card processing is important. Online merchant account and credit card payment gateway allow customers to buy goods at the click of a mouse, anytime they want.

    MOTO (Mail Order Telephone Order) Credit Card Processing

    It talks about merchants who run a mail order business and accept credit card payments over the phone. Here, credit cards are collected in an environment where neither the customer nor the credit card is present during the purchase phase. ‘Card not present’ processing is another term used for this processing.

    MOTO credit card processing options come with a variety of card processing equipment and software.
     
    Charles T likes this.
  8. Emma Megan

    Emma Megan New Member

    Merchant account for e-commerce business
    Online businesses or e-commerce businesses must own merchant account to boost sales and increase funds. Credit card processing facilitates easy and fast payments.​
     
    Charles T likes this.
  9. Emma Megan

    Emma Megan New Member

    Some basic points related merchant service

    • Processing fees and setup fees
    • Purchase cost of the equipment
    • Monthly processing fees
    • Business credit reporting
    • The right type of merchant services, as per the business
    Upon keeping these services in mind, it is possible to begin with merchant services on a clear & well-informed note.
     
    Charles T likes this.

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