When it comes to satisfying customers and keeping revenues high, the key is to offer simple, convenient payment solutions to encourage sales. Read on for five must-haves for accepting payments at your business with ease.
A smartphone is vital not only from a payment perspective, but also from an efficiency perspective. Smartphones make it easy to accept credit card payments on the go, but with the right applications, it also allows business owners to coordinate logistics, look up sales data, and adjust their business model accordingly.
A Tablet Computer
Much like a smart phone, a tablet like the iPad allows businesses to perform transactions anywhere at anytime. It can also be used as the primary credit card reader and register in a shop when set up with the proper apps and programs. Tablets store data from purchases and sync nicely with external programs making it simple for business owners to make adjustments to inventory and staffing.
A Square Card Reader
Most small business owners are familiar with the Square card reader and register app because it makes accepting payments on a smartphone or tablet stress-free. Just plug the device into your phone or computer and you can immediately start accepting credit cards for payment. There are no set-up fees and you pay just 2.75% per swipe.
While it is becoming increasingly common for businesses to email a receipt to the customer, most stores still offer a printed version as well. Two leading receipt printers for small businesses are models by Star and Epson. For those companies that rely on the Square card reader, Star is usually a better printer option because it syncs up with the register app and streamlines the payment process.
A Bank Account
Every small business needs to open a bank account. In the event that a bank is unwilling to set up a line of credit for your start-up or small business, there are high risk credit card merchants that can help you with a credit line. Find a reliable bank or merchant account provider with no set-up fees and low transaction rates and you’ll discover that accepting credit cards will be a boon for business.
Today, over 180 million Americans carry credit cards, so it puts a business at a serious disadvantage to accept cash only. Make transactions easy for the customer by accepting all forms of payment and you’ll never have to turn anyone away.
This is a guest post from Kyle Haze. Kyle is an analyst at High Risk Pay, a specialty merchant account provider.