Accepting credit and debit cards is growing more and more important in today’s business world. Fewer and fewer customers are carrying the cash in order to pay you. Not having a method to accept payments from these cards could cost you sales. However, you don’t have to be drawn into a merchant account for credit card processing that uses paper receipts, a bulky device at the register and paper monthly reports sent to you in the mail.
The business world is advancing to a paperless system whether you are on board with the idea or not. Every aspect of your business finances can be controlled digitally and backed up without fear of losing the information. Why should processing credit cards be any different? What are some of the advantages to having a digital form of credit card acceptance?
1. Mobility – Credit card processing can be done from the convenience of your smartphone or tablet. All you need is an account and Internet access in order to process a payment. If you are a professional who travels to customer locations, this is a great way to accept payments. Even brick and mortar retail locations are using the power of digital card processing through mobile devices.
2. Fees – Many mobile processing companies such as Squareup.com have devised a payment plan that is comparable to traditional merchant service accounts without using bulky devices sitting next to the cash register. These fees are paid immediately upon processing the payment. There is no need to try and calculate how much money will be owed at the end of the month. There are no monthly fees that you have to contend with or lease agreements that can tie up your funds for equipment you may or may not use.
3. Speed – For most of these digital credit card processing companies, the client receives money in the bank account the next business day. There is no waiting several days for funds to be processed and deposited. Even the interaction between customer and seller can be faster in comparison. In fact, some services have proven to be faster at accepting credit cards on your smartphone than when you visit the local store and swipe your card on the large units that never seem to work right.
4. No Paper Receipts – When a customer signs his or her signature to the mobile device, most processing companies offer a digital receipt to be emailed to them. If the customer agrees, the information will then be forever linked to that email address any time your location processes payment from that particular card.
5. Reports – Instead of monthly processing reports being mailed to you, an email is delivered. This is aside from the point that you can access extensive processing reports at any time on your account. You can pull information regarding card types, specific customers, average income per day and even the GPS location you processed the payment from.
If you process a great deal of credit and debit cards, it could be worth the effort into looking for digital solutions. Processing credit cards from your mobile device could be more beneficial to your business than you may realize. Whether you are building a more sustainable future for yourself and your environment or you simply want to save money on your business expenses, it may be worth your time to explore the possibilities of changing how you accept payments. You could save on paper, fees, leases and keep more money where it belongs – in your bank account.
Author Bio: Ken Myers is the founder of http://www.longhornleads.com/ & has learned over the years the importance of focusing on what the customer is looking for and literally serving it to them. He doesn’t try to create a need, instead he tries to satisfy the existing demand for information on products and services.