It is essential that your business accepts credit and debit card payments. Customers no longer expect to carry large amounts of cash around with them and if they cannot pay for a product or service on card, they may well not buy at all or take their business elsewhere. Therefore, credit card processing for small businesses is essential to generate sales, maintain excellent customer relations and help profits grow.
Getting started with credit card processing
Installing systems which operate credit card processing for small businesses may seem complex, but the basic principals are actually very simple and the products competitively priced. The first step is to set up a contract with a merchant account provider. This allows your business to accept debit and credit card payments, whether face to face in a shop or restaurant, over the phone or through the internet. You then need to purchase a system with which to take and manage payments. The first part of this will generate the bill, through scanning barcodes or manual input and the second part takes the card payment. You can choose between fixed, wireless or mobile credit card terminals.
How customer service will be improved with credit card processing for small businesses
Credit card processing for small businesses is so commonplace today because of the proven benefits to customer service;
- An extremely fast system to process payment. This greatly reduces queuing time.
- A large number of terminals can be used simultaneously with no loss in transaction time.
- Goods or services delivered to a home or another business client can be paid for straightaway using a mobile, hand held terminal. This cuts out invoices and other paperwork.
- Flexibility as to where the customer can pay.
- In a bar or restaurant, waiting staff can take the payment terminal directly to the customer table.
- The customer remains in complete control of the transaction. They do not have to trust the merchant to take the card away or enter figures in their absence.
- Tips and gratuity can be added discreetly to the bill on the hand held terminal.
- Customers can pay online. This is one of the biggest current benefits of credit card processing for small businesses. By offering this service, customers can make a payment outside of regular trading hours, can shop around in the comfort of their own home and can make decisions without feeling pressured in a retail environment. Small businesses can very cheaply and effectively market themselves over the internet and produce an online catalogue with links to reviews and other products and services offered.
- Paying by credit card offers security on large purchases as well as reward schemes.
- Customers feel valued and are, therefore, more likely to purchase again and recommend your business.
Enhanced customer service is just one of the advantages to credit card processing for small businesses. You will benefit from improved cash flow, lowering of operational costs, enhanced image and higher sales.No tags for this post.