1. Next day payments

Business is a busy world. Whether you are the owner of the business or number 2, 3, 4 or 5 the workload and list of things to complete is forever increasing. When running your business, the last thing you want to worry about is whether you can accept payments from your customer or not.

Accepting payments from your customers, whether in cash or by using card, this is paramount to your business’ success. I mean, if you can’t accept money from your customers, how do you expect to survive?

When customers are using their debit cards (or even phones or watches!) now to pay for their goods more and more, it has never been more important to have an effective, simple solution to accept and manage card payments.

Here we have 5 ways in which having an efficient card payment solution can help your business:

Operating your business on a daily basis requires money. Cash. Pounds. Moolah. From paying your supplier to providing your customer with change, having cash in the bank is one of the most important things you can aim to secure.

Taking a look at how fast your merchant service provider can pay out the money that your customers pay you should be one of the first things that you look at when in the market for a new provider. Some providers can take up to a week to land into the bank account which means you are always working behind yourself and always have some of your cash locked down with the merchant provider.

Taking advantage of the best offerings on the market is something that is very often overlooked. We get comfortable, if it’s not broken, why fix it, right? Wrong, if things can be improved upon (and a saving made in the process), then investing an hour to look at your options might not be a bad idea.

There are merchant service providers that have next day (maybe sometimes even same day!) payments and very low rates available. You may have started with a terminal that was suitable for your business to start with but as you have grown, have you outgrown your current method?

You might be a takeaway, café, restaurant, retailer, mechanic, day care centre, sometimes your customers may not be around when you need to accept a payment from them. Finding a merchant provider that can will enable to you provide the customer with a multitude of different payment options to suit them.

Having the ability to secure a sale and accept payment over the phone will make a far greater impact rather than sending them to your website or even worse, completely declining the sale and losing out. This isn’t an ideal situation for both the customer and the business. The customer has decided to choose your business to buy from. They have taken the time to reach out to you and enquire, giving you a chance to wow them and secure the sale.

They are ready to buy, and you don’t have a suitable solution in place to fulfil their requirements. You lose out on income and the customer has to continue their buying journey to find another, more suitable seller to purchase from.

Taking it one step further from the previous point, you may not be on site and have a good, reliable Wi-Fi connection. You may attend wedding fairs with your cupcake business or sell merchandise on the fly at events.

Seasonal requirements may force you to have a mobile solution for your card payments, knowing the difference between a GPRS terminal and wired terminal will play a massive part in your being completely informed when it comes to making the final decision and moving forward with the most suitable service for you and your business.

Having a central unit and place to have all of your business’ finances will help streamline your day to day workings and balancing of your books. Knowing how much you have taken, what product has been sold and by what payment method will provide your business with a streamlined experience and centralises your workload to one place.

You can focus on what products are selling well, see trends on purchases and, more importantly, what products aren’t performing and what might be affecting this. Being able to log in remotely, wherever you are in the world provides you with peace of mind that your business is always accessible, wherever you are. We all know that business owners can never truly switch off from work so this gives them confidence that they are in the best hands possible.

Last but by no means least, customer convenience. At the heart of every business, is it’s customers. They are the lifeblood. They keep the business moving forward. Servicing your customers and keeping them happy and pain free is of the utmost importance. So, when it comes to paying for things, having the simplest, most convenient and suitable way for your customers to pay you should be an important decision that you make and one that you should really take time to assess.

Personally, there is nothing more frustrating than having a pocket full of coins. Having that one way to pay for everything keeps it nice and easy, especially now with contactless, it has never been easier for us to quickly pay for things and move on to the next task at hand.

Last year it was announced that for the first time in history, the UK was a CASH SECOND country. Card payments now account for two-thirds of the UK’s payments. This means that customers like to pay for this using this method. This isn’t hearsay, its fact. Do your own research throughout the process and assess which solution works for you, what features you think your business will need and how it will affect your business in the short and long term depending on which avenue you would like to explore. If you don’t have a solution suitable for the customer, then they will shop elsewhere, it’s simple.

Hopefully you managed to take a little something from this and see that there is an array of different ways that having the right card payment terminal can help your business’ revenue and efficiency. If you haven’t evaluated your current merchant provider recently then it may be time to do so. We have seen a massive 90% success rate when interacting with our customers.

This means that 9 out of 10 people whom we speak to, we can either save them money, improve their service or in the best-case scenario, both!!! An age old saying; “don’t put off until tomorrow what can be done today.” There could be a whole new, efficient and effective new world awaiting you and your customers!

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