In this day and age, plastic has become the new currency of the United States. It has been reported that approximately 60 percent of all retail purchases are made with a debit or credit card. Since more and more businesses are accepting these alternate forms of payment, many people find it more convenient to simply carry their cards with them, rather than bother with cash or checks. Many businesses have stopped accepting checks altogether because of the added hassle of processing.
Using your credit cards is also a great way of tracking your expenses. With 24 hour online access to your credit card statements, you have a detailed report of all of your spending transactions. Due to this influx of credit card shopping, it is almost a necessity for any business to incorporate the best credit card merchant processing services into their point of sale. Whether it is at the store or online, allowing credit card transactions is an important detail in the daily operations of your business. By opening up other alternative forms of credit and debit card processing, such as mobile devices, you can continue to grow your businesses.
It is not enough to simply process credit and debit cards within your store. In this time of cyber mania, many people do their shopping from home, either on their laptops or smart phones. The new trend in credit card payment processing is setting up online and mobile processing capabilities for your business. When setting up credit card merchant processing services for your business, there are several different options that are available, such as:
The Census Bureau of the Department of Commerce reported that online transactions exceeded $194 billion dollars last year alone. If your business does not have the best credit card merchant processing option available for your customers online, you are missing out in additional revenue for your company.
While the holidays are quickly approaching, many people prefer to complete their holiday shopping online. In fact, many people report that they do the majority of their shopping over the internet. By allowing people to bypass the crowds, traffic, and hassle, online shopping offers a convenient way to purchase your items from the comfort of your home. Not only that, but your items are delivered to your doorstep from anywhere in the country.
Online exposure introduces your product to an entire population of people that might not otherwise see your merchandise. Even if you are limited to one store front, with an online presence you can complete sales transactions from across the country. By enabling your business to accept credit and debit card payments online, you are able to compete with other businesses in your field from around the world.
With advancements in mobile applications being continually upgraded, the options that are available through your smart phone seem limitless. Not only can people make payments over their smart phone, but they can also accent payments with their mobile device
One of the newest trends in credit card merchant processing is the ability to accept payment from your mobile device, including tablet, smartphone, or another piece of electronic equipment. Wherever you go, you can set up a virtual point-of-sale application that can process credit card transactions in real time. All you need is a Wi-Fi connection or a 3G network in order to process the payments. It is now possible to take your business with you wherever you go. Your customers will be impressed by your advanced technology.
Creditors, financial institutions, and other financial companies are realizing the benefits of allowing members to pay their bills over their mobile device. Some companies have downloadable mobile applications that will allow you to access your information quickly and easily. Not only can you view your monthly statement, but you can make your payments, and be directly connected to a representative if needed.
Although mobile processing may be one of the latest trends in credit card payment processing, it is still relatively inexpensive. With its ease of use, mobile processing is a very desirable option to increase your business.
Years ago, the credit card machine required a phone line to transmit purchase and credit transactions. When you swiped a card, the information traveled via phone line to the processor, and the transaction was completed. These days, transactions can be completed with no phone line needed. Wireless processing is significantly quicker than using a landline, giving your customers the added benefit of getting their transaction processed fast. This innovative way to process transactions opened up a wealth of possibilities when it comes to allowing your customers to purchase with a credit or debit card. With a wireless processing unit, portability is key. These machines are essential for fairs, trade shows, or any business that conducts purchase transactions where a phone line isn’t available.
It’s no surprise to most business owners that having a credit card processor in their store front is absolutely essential in running their business. Hardly anywhere you go these days will tell you that they don’t accept credit cards. Although some merchants may choose to not accept certain credit cards from certain financial institutions, they most certainly accept some form of plastic payment. Your retail credit processing system should be easy to use. This will translate into a speedy and wonderful experience for the customer.
There are still people out there who are unfamiliar with using a computer. With the looming threat of identity theft and credit card fraud, some people are hesitant to pay with their credit card online. Although most online transactions with reputable companies are secure, some still find it safer to pay their bills either over the phone, or by sending their payment through the mail. Also referred to as MOTO, Mail Order Telephone Order payments are easy to do. If you don’t have access to the internet or a computer, then you can simply call in your payment and everything will be taken care of for you.
With all the new advances in digital and wireless devices, it is an exciting time to be a business owner. The best credit card processing companies are always finding new and fascinating ways to bring exceptional service to their customers.