Reasons To Consider A Merchant Credit Card Payment

by | Jul 1, 2016 | Accounting Services

Merchants everywhere usually realize the benefits of accepting a customer’s credit card as a method of payment. You want your customers to visit your store, whether online or in person, and most people find it easier to pay with plastic. However, you must pay a transaction fee when your customers use plastic, but you’re paying it to those companies, such as Discover, MasterCard or VISA. While you cannot pay less to these companies, your CC processor will charge more, as well. Therefore, you may want to consider merchant services, as they will offer low, flat rates for processing.

More Than CC

Most businesses accept various payment methods and will be charge processing fees for all of them. With merchant services, you’ll pay a flat rate, per month, for all credit card payments that are made. This can include debit cards, check processing, EBT, loyalty programs and more. Plus, you will be able to offer mobile payments, as well.

Along with the processing needs, you’ll also need the tools to do so. Merchant services allow you to get the readers, swipers, and other items you need so that customers can use plastic.

Benefits Of Accepting Plastic

It’s important to understand the benefits of allowing your customers to make credit card payments. For one, you’ll likely increase sales. Even though you have to pay the transaction fees, you’ll still be making more money by allowing customers to use multiple forms of payment. Plus, they’ll be able to buy and shop online and on their mobile device.

You’ll also improve your cash flow because you won’t be waiting up to three months for checks to clear. You can pay your vendors with plastic and payments will be processed quickly on your end, as well, making it a win-win situation for everyone.

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