How will a Merchant Account benefit my Small Business?
First and foremost, opening a merchant account means that you are giving your customers what they want; multiple payment options! When you give your customers the additional options of paying by credit or debit card, your sales will grow by leaps and bounds. More and more customers are choosing cashless payments!
As if an increase in sales is not motivation enough, opening a merchant account will benefit your business in other ways as well. Virtually no business is too big or too small to open a merchant account. And the type of business that you run also doesn’t matter. Opening a merchant account so that you can accept credit and debit card payments can help your business no matter what you sell or how you sell it.
Cashless payments are more secure than cash payments. Why? If you’re still thinking that ‘cash is king,’ then it’s time to be realistic. Yes, cash in hand is proof that you have been paid, but cash comes with risks. If local criminals know that you have a lot of cash lying around, they are going to want it. Depositing large sums of cash is risky, and deposit services are costly. By accepting card payments, you eliminate that risk.
If you choose the wrong payment processor, then card payments can bring the risk of fraud – but if you follow the right procedures and protocols when accepting card payments, you can generally preempt fraud. Also, by choosing a merchant account service provider that takes card payment security very seriously, you are not only protected, but you are also kept informed and up-to-date on industry developments. And don’t forget: counterfeiters can commit fraud using cash. And bad checks are a frequent problem for any business that accepts checks. So, in some cases, accepting credit cards may actually reduce fraud!
The convenience of technology
It is indisputable that technology makes running a business easier. If you open a merchant account with a reputable merchant card service provider, you will be equipped with all the technology you need to accept card payments, and you will be trained to use the technology.
After an assessment of your business and what you need to make accepting card payments easy, an appropriate card payment processing system will be identified for your business needs. The merchant card service provider should take care of providing the devices or software that will allow you to process card payments effortlessly and seamlessly. That’s why it is vital that you choose the right merchant card service provider to ensure the success and growth of your business.
And then there are there reports that merchant card service providers offer their clients. You will no longer need to burn the midnight oil trying to balance your sales versus payments. There are reports linked to your merchant account that can take care of that for you. You can also integrate merchant account reports with your existing systems; just ask the merchant card service provider that you choose to assess what you are already using and to make recommendations.
Your small business is much more likely to grow and prosper if you open a merchant account.
For more information on how your small business will benefit by opening a merchant account, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.