October 2013

Why Credit Card Acceptance Matters

Businesses these days are starting to catch on to the fact that customers like it when they are provided with the opportunity to pay with their credit cards. It is really pretty simple to understand why customers would want to do this, but some businesses have still taken quite a long time to get on board with that reality. However, the demand has now pushed almost all businesses to get credit card machines to accept this type of payment. As such, it is a sign of a reputable business to accept credit cards.

Who would want to walk into a business and see that they are not accepting credit cards? If this was what was going on, there are a good number of people who would simply turn around and walk out of that same business. They have every right to do exactly that and should if they feel that their money is no good at that establishment. That is really what it comes down to when it comes to businesses accepting or not accepting credit cards. The ones that do show up with higher profits than those that do not. It is really as simple as that.

When someone sees the logos of the credit cards that are accepted at a particular business, they know that the business is legitimate in what they have to offer the customers. There is no question that this business is one that has worked out of its way to get right with customers. They have done all that they can to make sure that said customers are taken care of, and that is important to a lot of those customers. They want to see that a business they choose to purchase products from is one that they know they can trust.

Just trusting that you can accept their money is a great win with customers. As soon as the credit card acceptance is available to them, it is a good idea to advertise this fact. Just letting customers know that your establishment is accepting their money in the form of their credit cards can be a huge relief to the customers and really let them know that they are cared about. That is how to win over customers and show them that they are your top priority. Some businesses do not do this, but yours should if you want to separate from the rest of the pack.

If you are ready to get a leg up on the competition, please contact us today!

Does Every Business Need a Merchant Account?

The number one question on the minds of most new website builders is “How do I arrange to accept credit cards for payment?” Once upon a time (which means last year in internet time), getting merchant account status for an online storefront was tough because credit card companies were suspicious about vendors who lacked brick-and-mortar Storefronts.. No more.

Even bankers have awakened to the reality that the net has created a revolution in how commercial transactions are completed, and credit card issuers nowadays truly “get it”-they understand that the net is a legitimate retail channel, and they are rushing to set up merchant accounts with online stores. But that doesn’t mean it’s suddenly easy. Issuers still want proof that you are a legitimate business and not a fly-by-night con game. Patiently answer all their questions and show the requested documents, and you’re likely to get the status you crave.

Your bank is a good place to stop at first when searching for a merchant account because you already have an established relationship. Most issue credit cards and a wide range of other financial products. What if your bank says no? Try a few other local banks-offer to move some of your accounts there-and that just may be enough to sway them. There are also plenty of smaller financial institutions that make it very easy for new businesses to set up merchant accounts.

Credit cards are not cheap to process, however, at least not for a new business. A typical fee schedule for a small-volume account (less than 1,000 monthly transactions) would include start-up fees around $200 and monthly processing fees in the $20 range. Is it worth it? Absolutely. It’s simply impossible to run a real electronic storefront without credit card processing capabilities. In very special cases, yes, you can go online and ask customers to mail checks, but when your aim is to build a volume storefront, you’ve got to take credit cards. Customers expect it, and it will make transactions easier for everyone involved.

Your credit card processor must offer a secure, encrypted connection. You’ve seen this many times yourself. Go to almost any major retailers website, commence a purchase, and you are redirected to a “secure server” environment, where transaction data is scrambled to provide a wall of safety against hackers. The reality is that it’ll be pretty difficult for a hacker to get a credit card number from an unencrypted, unsecure site. But buyers by now feel reassured when they see they are entering a secure site, and that means you need to provide it.

Is this a big hassle? It shouldn’t be. Whoever sells you your credit card processing services should also, as part of the package, provide a secure connection for transactions. If they don’t, look elsewhere.

It may sound daunting to arrange for online credit card processing, a secure server, etc., but nowadays, you can have all of this in place in a matter of minutes. There are plenty of services that allow you to establish a merchant account through their shopping cart service. There are wide variations in fees and pricing. Should you go with the lowest price? Not necessarily. You should go with a company you trust, one that has competitive pricing plans, and that exhibits excellent customer service.

Does your company feel the need for a merchant account? VPS is here to help today! Contact us now!

 

5 Signs Your Business Should Start Accepting Credit Cards

Credit cards give you access to a whole new realm of delicious income for your business. Here are five signs that you’re ready to start accepting credit cards.

1. YOUR STUFF COSTS MORE THAN $20Let’s say you own a tuba business. You make tubas, you service tubas, you sell tubas. Unfortunately, tubas are expensive. Somewhere, there might exist someone who carries around a few hundred bucks in cash just in case he has a tuba emergency and happens upon a kindly tuba merchant who can fill his tuba needs, but that person is probably not one of your regular customers.

2. YOUR CUSTOMERS ARE TIRED OF WAITING AROUND

Picture the scene: you’ve got a line of tuba enthusiasts out the door. The next guy in line struggles to extract his from the pockets of his tight hipster jeans. You cringe at the glares of the thirty people trying to buy a tuba behind him. Then he says the dreaded words: “Oh, wait, I have exact change,” and he starts digging again.

But the guy after him pays with a credit card, so he’s out of there in thirty seconds, tops.

3. YOU’RE TIRED OF NOT FEELING LIKE A REAL BUSINESS

Perhaps some amateur tuba designers only take cash, but real tuba designers know that their customers want options when it comes to purchasing. Your clients will get to pay however they want to pay, you don’t lose customers who think buying tubas with cash is super sketchy, and everybody wins.

4. YOUR BANK DEPOSITS ARE LOOKING ATTRACTIVE TO RUFFIANS

Maybe your nightly deposit won’t fit in one bag anymore. Maybe you don’t like carrying around a month’s worth of rent in your pockets. Maybe after you get the tubas loaded in the delivery van there isn’t enough room left for a ninja sword to fend off robbers with. Maybe it’s time to start taking credit cards.

5. PEOPLE AREN’T BUYING ENOUGH

Cash is a physical substance, and people don’t want to hand it to some stranger behind a counter, they want to keep it and hoard it like a dragon in a cave. But credit’s easy! Just a quick little swipe of the card and it’s all over. A cash customer might get just the tuba, but a credit customer will buy the tuba, the tuba cleaning kit, the book of tuba tunes, and the lifetime tuba club membership.

Does your business suffer from any of these problems? Fix them by contacting us today!

Why Accept Credit Cards?

Why should your company accept credit cards? Any company that accepts credit cards is doing its customers a big favor. This is because fewer people carry cash as opposed to a decade ago. Therefore, forcing your patrons to pay with cash or check could result in those people buying goods elsewhere.

Accepting Credit Cards Is Good Customer Service

Allowing your customers to pay by credit card is good customer service. If a customer had to go to an ATM to withdraw cash because his or her credit card was not accepted or credit cards were not accepted at all, that could add several dollars to the purchase due to ATM fees.

Accepting Credit Cards Allows Customers To Shop Online

Online sales are becoming a larger source of revenue for companies of all sizes. Unfortunately, your customers are not going to be able to shop online if your business does not accept credit cards. While your business could accept payments through PayPal or with a debit card, those methods may not be secure enough or convenient for your customers. Therefore, it is essential that you accept credit cards if you want your customers to buy goods from your website.

Accepting Credit Cards Can Be Good For Marketing Purposes

When a customer uses a credit card, you get a wealth of data about that customer. You get to know that person’s name, address and how much they spend on your products or services. That information can be used to create a sophisticated marketing message that can be used to keep that customer around for the future. Attracting repeat customers allows your company to make more money while spending less on marketing.

Make The Sale From Anywhere

Swiping a credit card through a mobile POS unit makes it easier for your business to make sales from anywhere in the world. For smaller companies, these mobile cash registers allow you to sell goods from anywhere in the world. For customers, the ability to purchase a good without standing in a line is a positive development. A customer that can find what they want, pay for their goods quickly and leave as soon as possible is more likely to spend money with your company as opposed to with the competition.

Regardless of how large or small your company is, it needs to accept credit cards. It is good customer service to do so, your business can attract online orders and the marketing information that can be gained from credit card users is invaluable. Therefore, your company should look into ways to accept credit cards immediately.

Contact us today to help you find the perfect solution for your business.

The Basics of Payment Gateways

Any time you want to sell products, whether virtual or real goods online, doing so requires you to implement payment gateways for your potential customers. Using a payment gateway allows you generate sales online whether you are selling clothing, downloadable goods, books or even home decor. With the use of payment gateway options for your potential customers you can increase the number of sales you are capable of generating each day.

What is a Payment Gateway?

A payment gateway is a method of making a payment online with the use of credit cards or other online services that allow customers to pay with debit cards, wire transfers and direct deposits. Using a payment gateway has many benefits that can help to take your business to the next level of success, regardless of the industry you represent.

Popular Types of Payment Gateways

There are many different types of payment gateways available to integrate into any type of online shop or store, for physical or virtual goods. The most popular type of payment gateway includes allowing credit card processing. You can also use third-party services such as PayPal for secure credit card processing and alternative routes of payment, including wire transfers and direct deposits.

Choosing a Payment Gateway for Your Brand

Determining the right payment gateway and methods for your brand can be done by first considering the demographic or audience you want to reach. The more you know regarding the age group, gender and various interests of your followers and potential customers, the easier it is to determine which method of payment is right for your online users.

Comparing different methods of payment can be done right from home, online, where you can compare fees as well as credit card options that can be used from various merchants before making your decision. Once you understand your audience’s demographic, you can then choose the payment gateway that is likely to generate the most sales.

Benefits of Using a Payment Gateway

Using a payment gateway is highly recommended when you are looking to expand your brand’s presence online. Having a payment gateway available is a way to also increase your overall professional reputation and credibility. The more gateways you have available for customers who are looking to make purchases from your website, the easier it is to generate sales and revenue.

Knowing how to incorporate a payment gateway for your business online not only gives you more opportunity for success and generating sales, but it also build credibility and boost your professional reputation in any industry. Using a payment gateway online also helps to build trust between you and your customers, which ultimately allows them to feel more loyal to your brand altogether.

Interested in payment gateways? Contact us today. As experts, we can find the right solution for you!