If you are new to the business world, you may believe that a low-cost merchant account is beyond reach. You might reason that every dollar of profit you make should be funneled right back into the business products or services rather than into an account that facilitates electronic payment processing. But a merchant account may be the very asset your business needs in order to achieve the growth you want to see. By providing your customers with alternative payment options to cash and check, you are inviting them to spend more and pay according to their preferred method, since research shows more consumers are choosing to pay by credit card than any other means.
A low-cost merchant account can help your business grow by enhancing your marketing plan. When the word gets out that your company offers electronic payment services like credit card swiping, telephone dial-up, and Internet Website payment options, customers will be impressed and may be more likely to check out your various options to see for themselves how easy you have made it for them to shop with your company. Naturally, you don’t have to offer all these options at once. But you can start by getting approved for merchant account services and then setting up one type of credit payment option to see how customers respond. If all goes according to plan and growth follows the expected trend, you may decide to add another option to further expedite payment procedures.
Your low-cost merchant account can put a terminal-printer on your checkout counter to help your cashier process credit payments in addition to making change for cash payments and getting the manager’s check approval. When customers know that you accept credit cards, they may be more likely to spend more than they would have otherwise. They might even buy gift cards or novelty items in the checkout line. If you deliver goods or services with an appliance installation service, for example, you can buy or lease a wireless credit card processor that can go wherever you do for point-of-sale processing. You don’t have to worry about statements that won’t get paid or billing customers each month for the next year. A credit card sale can finalize the account to the satisfaction of both your client and you.
When you are ready to grow your business to the next level, with a low-cost merchant account, you can apply for digital credit card processing by installing a telephone credit payment service. This will allow customers to call in at any time and key in their credit card account number for payments without the aid of a customer service representative. Then you can add a company Website with a credit-processing feature where customers can order services or supplies and pay on the spot with a credit card.
Don’t wait too long before making the move to electronic credit card processing equipment. Your customers expect it, and your company needs it to stay solvent and experience serious growth. Start thinking about applying for a low-cost merchant account.