Types Of Credit Card Merchant Services

Most business owners rarely think about the various kinds of merchant services available to them, especially when it comes to credit or debit card transactions. They usually think of processing as a necessary evil and think no more about it. However, you could be missing out on some excellent ways to increase revenue and build rapport with your customers.

Retail

The retail trade isn’t just about clothing or food. Almost any company can be considered retail if they sell products that people need or want. Therefore, you need to ensure that you provide your customers with multiple ways to pay. Cash is still popular with some, but most people use plastic or shop online. Therefore, you may want to consider credit card merchant services to ensure that you’re not paying too much in processing fees.

However, these companies may also be able to sell you equipment, such as point-of-sale systems, report and inventory management software and more.

Mail/Phone

Many companies prefer to use catalogs to increase the chance of getting a sale. You send out books filled with items you sell and people can call in or mail in their order. While you can request that they send in money orders, most customers won’t do so because it costs them more money to get the slip of paper. Instead, you can allow them to pay with plastic. They can either call in with the account number or put it on the mail-in form.

Internet/Wireless

Companies everywhere have moved away from physical stores and mail orders to go to the Internet. It is much easier to design a website with all your products and allow customers to search at will. Plus, it’s much quicker than using the mail. You have to send out the catalog, wait for them to look through it, wait for them to send in their order and then process it.

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