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.

Find Out How Much Funding You Qualify For

Fields marked with an * are required
By clicking this button I agree to all terms and conditions.

Terms & Conditions

General Acceptance

Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

US Patriot Act:

To help the United States Government fight terrorism and money laundering, Federal law requires us to obtain, verify, and record information that identifies each person that opens an account. What this means for you: when you open an account, we will ask for your name, a street address, date of birth, and an identification number, such as a Social Security number, that Federal law requires us to obtain. We may also ask to see your driver's license or other identifying documents that will allow us to identify you.

 

For Loan/Merchant Services:

The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

For Equipment Services:

I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121.  Funding amount and credit approval is subject to a full credit profile review.