subject: Keep Business Booming at your Retail Business with the Help of Merchant Services [print this page] Keep Business Booming at your Retail Business with the Help of Merchant Services
You do all the right things for your business: You offer the latest merchandise, you make it easy for customers to do business with you, and you accept credit cards for their purchases. What else can you do?With the help of the right merchant services account, you can offer your customers far more than they expect when they walk into your retail establishment. Here are some ways you can keep your business booming, with the help of the right merchant service account:
Credit card processing
Today's consumers expect your business to accept credit cards and other non-cash payments in exchange for their business. They get this kind of service elsewhere, so if you are going to compete, you need to offer the same level of service. For you to offer that kind of service, you need to look for a merchant account where you pay the lowest possible fee, with a service provider that offers you the best possible services.You want to hang onto every dollar you earn. That means you cannot simply accept the lowest rate offered. It means you need to look for a provider that offers you more than the lowest possible rate. The provider must also offer special services such as debit cards, check and pre-paid card processing, electronic balance transfers and gift and loyalty cards, which can also generate revenue.
You also need a merchant account that has your back. It should look out for you when you have grown and when business is not as strong as it has been in the past.Finally, you need to find a service provider that offers a full-range of processing options and industry-leading service and support. What can your merchant account offer you in the way of free equipment? Does it offer you space-saving countertop terminals or wireless terminals with PIN pads and check readers? Here are some other options to consider:
Check acceptance
While most clients prefer to pay with a bank card, there are a few who still prefer to break out their checkbooks and write a check. You need a service provider that lets you accept checks as your client's preferred method of payment and still limits the time between deposit and redemption. Find a service provider that lets you convert checks into a secure electronic document. This will ease your record-keeping and also help guarantee payment on that check.
Wireless payment
If you do not want to be bound by geography, look for a wireless payment solution. With the right system, you can conduct business safely and conveniently from almost anywhere in the world. You may not want to limit your retail business to the storefront. Maybe you would like to step out to a trade show or take your business on the road. The right system will allow you to conduct business no matter where you set up shop. Wireless credit card processing allows you to conduct business wherever you are located. You can assure your customers that their credit cards and your wireless credit card terminals are a safe duo.
The terminals use encrypted technology, which means you can accept wireless payments without worrying about a bad outcome.Even if you have a storefront business, wireless technology may still be a good answer. Maybe you have curbside pick-up or offer some other form of take-out service. You need to be able to process car-side payments and save your customers the hassle of having to come into the store. The best merchant account providers can offer this kind of service within 48 hours.
Gift card acceptance
One of the best gifts to give these days is money - or a gift card. Customers love to give gift cards and recipients love to receive them. But do you realize that gift cards are like receiving a cash advance for your business? That's right. Gift cards represent money in before the product or service has gone out. But there are other benefits to gift cards: They attract new customers. Often times, recipients have not yet tried your business. With a gift card in hand, new customers face little risk in trying your business. If they enjoy the experience, they will spend more than the worth of the gift card.
Not every gift cards is redeemed. This means if you sell a gift card that is never fully redeemed, you pocket the difference between the purchase price of the gift card and the redeemed value.Those receiving gift cards often spend more than the face value of the gift card. Once recipients step foot in your store, they often find something else they want to purchase. If that product or service is higher than the value of the gift card, they often make up the difference - comforting themselves that the gift card provided a discount.
