Why Should I Accept Credit Cards?
Millions of cards are carried in the U.S. by people who take their cards wherever they go- to the mall, on vacation, to the post office, our to eat, to the dentist and surfing the Internet. These consumers enjoy the convenience, the flexibility and the security credit cards offer.
For years, card acceptance has been expected at places like retail stores, hotels, restaurants and airlines. But today, consumers expect to be able to use their cards for a much broader range of products and services, including health care services, groceries, tuition payments, movie tickets and recurring payments such as cable or utility bills. And the list will only continue to grow.
As a result, businesses who accept cards are not only gaining more customers, they are gaining more loyal customers and customers who spend more. In addition, these merchants and service providers are gaining real bottom line benefits for their business.
How Does Accepting Credit Card Mean More Business?
In today’s fast paced society, people are continually taking advantage of opportunities to do tasks quicker and more efficient. Credit and debit cards are the answer to consumer’s desires of more efficient and faster paying needs. More and more, consumers are driving the economy to a card based payment solution. Nearly 1 in 3 consumer purchases in the United States is made with a card payment. As a business owner, one would want to take advantage of this payment trend for many reasons. Credit cards acceptance offers your business a wide range of benefits in terms of reduced operating costs and increased profitability, including:
Increased Sales Consumers spend more when they're not constrained by cash on hand. You may see increased purchases of higher-margin products as well as specialty items. And customers may visit your store more often.
Improved Customer Satisfaction Your customers will appreciate the fact that you allow them the flexibility to pay the way they want to pay - including by credit or debit card. Happier customers are more loyal customers.
Speed of Checkout You'll speed your customers through checkout with rapid electronic payment. No more counting change or waiting while customers write checks. Customers appreciate and enjoy the speed of the transactions and their paying experience.
Improved Efficiency Card transactions today are conducted electronically. These paperless payments can save you time and money by minimizing cash handling and payment reconciliation, giving you more time to do more important things - like managing and growing your business.
Safety With lower volumes of cash, you're less vulnerable to theft and pilfering.
Currency Conversion Electronic payments on cards are settled in the currency in which you sell your goods and services, regardless of where the cardholder is from. If you sell in US or Canadian dollars, that's how you'll be paid.
Improved Cashflow Card transactions are typically settled in 24-72 hours and money is transferred directly into the business account. This saves on processing fees and clearing time delays with checks.
Simplifies Accounting Detailed reports can be run at any time showing an accurate number of the volume of sales during a shift or business day. It is a quick way for one to verify all receipts are accountable and saves time entering and adding all the receipts up oneself.
Reduced Costs You can save time on the management of billing, sending statements and tracking receivables, reducing your overhead and related expenses.
Fewer Processing Problems Reducing the number of checks you take in diminishes the likelihood of problems resulting from processing checks. So you’ll avoid redeposit fees and the cost of processing additional transactions.
Frequently Asked Questions
What is Merchant Account Processing?
Merchant account processing services are provided by a bank or a third party processor (on behalf of the bank) to the Merchant. These services include authorization of credit cards, settlement of funds through the bank associations (MasterCard and Visa), depositing of funds to checking accounts, merchant billing and account activity reporting.
How do I apply?
We will do a pre-approval. Once pre-approval, we will send you that paperwork to sign. This process normally takes five working days.
What if my application is declined?
Very few applicants are declined. If you are declined you have no obligation so why not apply.
I have a bad credit rating, is this a problem?
Probably not. Most applications are declined due to current bankruptcy or tax lien. There are not hassles, no strict credit requirements, and NO FEES TO APPLY, so why not apply?
What equipment do I get? Must I purchanse it, or can I lease It?
You have the option of many state of the art electronic terminals. The equipment may be purchased or leased. What are my leasing options? You can get a four-year lease. These are all lease to own plans. The lease has a 10% buy-out option at the end. It is a business lease and therefore 100% tax-deductible. Just as importantly, it will not show up on your personal credit report as a credit liability.
Can I use my compiuter instead of a terminal to process the sales?
Yes you can purchase or lease the software for the same amount as the electronic terminal.
Do I receive any training on the equipment?
We will contact you when your terminal arrives to fully train you on all equipment at NO charge.
Is there a merchant service phone number that I can call if I need help?
You will be provided with an (800) number to handle any questions.
What are discount points?
Every bank charges discount points to merchants. Discount points are the percentage of each transaction that the processing company charges to handle the transaction for you. Our discount points are exceptionally low.
When can I expect the money from the sales to appear in my bank account?
Usually, the money will appear in your account within 2 business days after you have reconciled your daily business.