Credit Card Processing from a Top Industry Leader
We all look at the bottom line before we make a decision about what to spend our money on. Whether you're making a decision on how many employees to hire or what kind of supplies to buy, price makes a difference. If you're a small business, you may not choose to get your credit card processing from more established companies because you're scared off by the cost. However, the benefits you get from experienced payment providers can't be beat — especially when you're looking to solve for today's payments problems, smartly, safely and even affordably. Unfortunately, with the world of commerce challenge today, the odds are too great to take a chance with your business. Here's a quick look at why you should consider industry leading payment providers.
The Changing World of Payments
Every day consumers sacrifice their privacy for convenience, and it's almost become habit. Every day they become more and more used to getting what they want when they want it, and even a small delay can become a big deal. We've moved quickly from paying exclusively with cash, to using credit and debit cards everyday, and now looking at mobile wallets to make payments more convenient. When you deal with a top industry leader, you have the flexibility to keep up with where payments are headed. From stand-alone terminals, to fully integrated POS systems that contain the technology you need to power into tomorrow, you can stay current and relevant.
Future-Proofing Your Solution
No one knows exactly how technology will play out in the future. One thing is certain—payment processing is changing as quickly as the consumer behaviors and technologies shaping it. Future-proofing your business, while processing safer, more secure payments should be a priority. It's a priority that's driven by an always-evolving, software-driven payment ecosystem. You only have so many places to turn to for helpful solutions, but the right partner makes it their mission to do the heavy work for you, and to help steer your business in the right direction. Whether that's enabling all the latest payment options in cards and mobile wallets available to you, making your card data more secure with encryption or tokenization, or providing more intuitive reporting that makes the business of payment easy, an industry leader can give you relevant and current advice to keep you on the right path.
Outsmart and Outlast
Generally small businesses operate on small profit margins and large-scale theft can't be absorbed by the rest of the budget. Similarly, even the most careful small business can be taken down by just one data breach. Don't suffer this fate when you can have card data security measures in place that will protect you from this. You process debit cards, prepaid cards, gift cards, credit cards, and each one comes with its own set of specific risks associated with them. You should be able to assure your customers that you're doing everything you reasonably can to protect them. Consumers may not read every news story, but they know enough to be worried about using their credit cards when major retailers are constantly suffering from hacks. An experienced payment provider can help you encrypt your processing and help you avoid point-of-sale fraud with solutions including chip card-readiness.
Fending off the Fraud
Chances are, you only know so much about how criminals actually break into your system or how criminals mastermind fraudulent card presentation in your store. Superior credit card processing gives you the tools necessary and simple steps to follow so you can employ more defense than offense when it comes to protecting your customers' card data and defending your business from fraud. A good company will also communicate what you need to know, and be there to answer questions at any time of the day. There are even options available to turn the burden completely away from you by letting the payment processor take care of the information so you can concentrate on growing your customer base. That kind of relief is priceless, and you can only get it from someone who knows what they're doing.
The Expected and the Unexpected
There's a lot to be said for experience. You may not even consider hiring an employee if they don't have any, depending on the seniority of the position. The leaders in their field who have been working with fraud have watched how everything has changed so they can see it all in context. This makes it much more likely that the established companies will have insight you can't find anywhere else based on all they've seen. Any company can take care of the run-of-the-mill, garden variety problems when it comes to processing. However, a real leader can fix the anomalies and forge a new course if need be, without putting your company in jeopardy.
How We Spend
According to Vantiv research, 38 percent of people will spend more than their gift card is worth — up to 40 percent more. About a third or more of the cards they have in their wallet will be gift cards. A fourth of the time, they'll use cards that provide the most rewards. A leader will have the capabilities built into their programs to promote this in every way possible, with advanced security options, virtual choices and flexible spending. Prepaid processing is also a popular choice among merchants, and can mean more promotions and rewards from both your customers and employees. It can also just give you a better way to manage your payments.
The Bottom Line
Your goal here is to customize as much as possible for your payment solutions. Both you and your customers need to see real benefits from your processing solutions. Whether you need to save time, give your customers more financial incentives to shop with your or just stay current on the best in technology and security, there are features they'll respond to that good credit card processing can provide They should be able to pay with multiple types of payments with full reliability, and you should get only what you need and nothing you don't. A leader in credit card processing can increase your profits and maintain your sanity in ways you probably haven't even considered.