Accepting Credit Cards | Credit Card Processing | Merchant Services
Credit Card Processing, Merchant Services and Credit Card Acceptance Programs all speak of the same process. We're alluding to accepting credit cards or your ability to perform credit card transactions though your business.
Accepting credit cards generally increases the number of dollars spent at your business and may therefore increase profits. The statistics referred to by credit card companies report an average of 25% increase in business from adding merchant services to your business.
There are very simple ways to add a credit card acceptance plan (to accept credit cards) to your small business and there are complex methods such as point of sale systems. Card processing with point of sale systems can be wonderful tool to some and an albatross.
As with leasing credit card processing equipment, point of sale systems are very powerful revenue streams for the salesman and bank but may be deadly to an new business. It matters not to them if you would be better served by investing that money in facilities or marketing.
Call me if you'd like me to clarify how this happens.
Another thing that drives prices up is the perception that a bank or others marketing themselves as "direct sources" are cheaper.
You may however loose personal service and have to talk to India for your problem solving but that's usually the extent of the difference in these so called ""direct sources".
The most damaging however is the fact that all of the fee's leave your community never to return.
We can't control what Visa, Mastercard or worse yet Discover or Amex charges us or you. We can however control your processing costs.
As an example lets say your total cost of accepting cards is about 2%. That's discount rate, batch fee's, per transaction fee's whatever. (this varies from processor to processor but the actual margins usually don't)
If you pay this to Sam's Club, Paypal or your Bank for the large part it's gone from your community.
However if you use a local small business to perform these services all but their taxes go back to the local economy. If it's someone like ourselves the benefit to the local economy & community is multiplied.
If you feel someone that lives local, supports your community and actually sends customers to you is of any benefit call right us.