Credit card processors can help you maximize sales of your products/services online or in-store
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Select the right credit card processor and your business will be well positioned to thrive and grow for years to come. There are many options available when it comes to payment processors, so you might be wondering how you can be sure to choose the best one. Here are some questions to ask of any credit card processor you’re considering:
Does the processor have a good reputation? Have you checked out online reviews and talked to others in your industry about their experiences with various processors, both positive and negative?
Is the processor committed to innovations in payments? Are they constantly on the forefront of new payments technologies and acceptance methods?
Does the processor make data security a top priority in their business model? Will they be available and accessible to continually support your business to ensure your systems and networks are secure from hackers?
- Does the processor offer comprehensive customer service? Will this processor be able to provide support, day or night, if a payment network goes down?
These days, many businesses do business both online and in a physical storefront. Top processors can help make accepting credit cards seamless, no matter where your customers shop. Read on for more information on how a credit card processor can help you maximize sales of your products and services, in any channel.
Accepting in-store payments
When you think of accepting card payments in a physical location, the first thing that comes to mind is probably a traditional countertop POS terminal. While such terminals are the backbone of processing for many merchants, they’ve come a long way from just being able to swipe a card and print a receipt. Today’s newest countertop POS terminals have an easy-to-use interface that makes sales and checkout easy for your staff. You can also choose additional equipment to add to your terminal, such as a barcode reader, based on your business needs. Depending on your customer type, you may also want to consider adding the ability to accept mobile payments at your countertop POS terminal. Doing so is usually as easy as ordering a mobile device reader from your processor and plugging it into the terminal.
Another in-store payment acceptance method that is becoming increasingly popular for both retail and restaurant establishments alike are tablet-based POS systems. Tablet-based systems can be used in place of countertop POS terminals, or in addition to them. Some large retailers in the U.S. today are now sending their associates out on the sales floor armed with a tablet. Sales associates can quickly serve customers in real-time as they consider goods they’d like to purchase. Associates can retrieve inventory information, detailed product specs and more from the tablet-based POS system. And, when the time comes, the customer can pay with a card directly on the tablet the sales associate has in hand, saving a trip to the checkout counter.
Accepting payments online
Expanding your business to online sales can help you expand your customer base and increase your revenue. Your credit card processor can make accepting electronic payments online fairly easy and seamless from your brick-and-mortar sales. If you’re thinking about taking sales online, the first thing you’ll need to consider is whether you will build and manage your own website or create a site on an existing online marketplace (such as Etsy). Then, you’ll need to consider whether you want to set up your own merchant account or use a payment gateway to handle your credit card processing. Setting up your own merchant account is more time-consuming upfront, but can usually offer savings on processing fees in the long run. Your payment processor can help you make these important decisions related to accepting payments online so you can set up your online business for success.