Business Trends

 

09 24 2013

09 24 2013

3 Tips For Credit Card Processing For Small Businesses

Online payment processing is becoming essential for small businesses. More consumers rely on debit and credit cards to make purchases in stores and online, and some customers have switched almost entirely to making payments with credit cards, carrying around little cash on a regular basis. Keeping up with merchant credit card processing services can be tough for entrepreneurs – they’re often so busy they don’t have time to focus on business trends. Or some small business owners may find it difficult to navigate a technological world they’re not familiar with and find the prospect of trying to figure out credit card processing a daunting task. Instead of getting discouraged, small business owners should embrace new technology – here are a few tips on how to adopt an effective credit card processing system:

1. Embrace in-store credit purchases

“Cash only” is on the way out – when a customer is in a store and finds the company doesn’t accept credit card payments, it may be difficult to close a sale. Instead of reaching into their pockets and paying with plastic, customers who have to run down the street to find an ATM may not come back. It’s sometimes a very small window to land a sale, making it essential for entrepreneurs to come around to credit card technology.

Small business owners should do some research to find out how to go about getting this technology. National Funding is a great place to go with questions and concerns about small business credit card payment options. The National Funding staff can help an entrepreneur gain an edge over competitors by embracing reliable credit card payment methods.

2. Get online

It’s not always enough to accept credit cards in a physical shop. Online shopping has come to be expected from many customers, especially if a company is established and sells physical products directly to consumers.

Without credit card processing services, however, buying online is difficult, if not impossible, for customers. That’s why it’s important to offer the option for online buying. If a small business offers services rather than products that can be easily sold and shipped, these entrepreneurs should still create a comprehensive website that uses high-quality graphics and is easy to navigate.

3. Focus on customer needs

With such a competitive market for most industries, when a customer feels they’re not being listened to, it’s easy for them to switch companies. That’s why it’s essential for companies to cater to their customers, starting with offering easy payment options. This includes credit card processing services that take a wide variety of credit cards.

If a company is struggling to understand what their client base wants and needs, they can ask customers to complete surveys after making a purchase and can request information on their customer service experience.

Entrepreneurs who are looking to update their business practices can come to National Funding for guidance. National Funding offers financial assistance in getting a small business loan and also offers equipment financing options for small business owners.

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