How to Manage Credit Card Processing for Your Business
18 January, 2017
The vast majority of sales made in this day and age are done using debit and credit cards. A lot of people don’t even bother to carry cash, as cards are accepted by just about every merchant in the country. If you want to take your business into the future, here are a few tips to help you manage your company’s credit card processing:
Know Your Processing Company – Instead of settling for the first or most convenient credit card processing company, do your research! Find the one that will charge you the most reasonable prices, but which will offer you a quality product (software and hardware). Look for a company that suits your needs most closely. Sometimes it’s worth paying a slightly higher fee for a better, more reliable processing service.
Always Take Payments – Yes, payments made via credit card will cost you a small percentage of the payment plus a processing fee. But that’s part of the cost of doing business! It’s better to accept the small fee rather than lose out on sales altogether. Customers may not always have cash on hand, so you need to be ready to take credit card payments even if it means a lower profit per product/sale.
Make it Easy – Customers use debit and credit cards to make payments because it is both quick and easy. It’s simpler to carry around one credit card than a wallet full of cash, and it’s a good deal safer as well. Your goal should be to streamline the payment process so your customers can pay their bills or purchase their products with as little wait time as possible. Find a credit card processing service that trims down to the process to one or two customer actions (inputting PIN and signing the bill).
Guarantee Security – Most customers take credit card safety for granted, but you don’t have that luxury. You need to make sure that your customers’ data and credit card information is as secure as possible. That means opting for the best and latest in credit card processing safety, as well as software that is 100% secure. Having your customers’ information misplaced or stolen can seriously harm your reputation and prevent them from coming back to the company in the future.
Credit card processing companies like Dynamic Merchant Solutions can make life much simpler, but it’s vital that you understand the ins and outs of credit card processing. Give us a call today and let us help you make the most of your credit card processing services to increase your company’s chance for business success!