Every day there is less physical money exchanging hands during transactions. The shift to a more digitized world has resulted in consumers relying on payment types other than cash. Having a credit card processing system was once a luxury for small business owners, but now it’s a necessity in order to stay relevant in the industry. Many times customers only carry credit and/or debit cards, so not accepting them could make you miss out on sales. Here are some of the options for the best credit card processing for small business owners to consider.
Terminal Processing System
The payment terminal is one of the most common types of credit card processing options. It’s also known as a point-of-sale terminal, and it gives customers the ability to pay with a credit card in the store. There are some very basic options for small business owners, and many merchant processing systems will allow you to upgrade your system as the business grows. Using a terminal processing system can speed up checkout lines and provide a secure payment option for your customers.
Online Credit Card Processing
Small business owners with an online presence should strongly consider using an online credit card processing system. It offers essentially the same benefits as the traditional in-store payment terminal, but you can accept payments at any time worldwide. Many consumers shop online before visiting a store, and some customers don’t visit a store at all anymore. Providing the ability for a customer to make a purchase online and on-the-go can result in increased sales and a larger reach for your business.
Some small business owners choose to accept credit card payments through a mobile phone or tablet instead of a traditional payment terminal. There are several cost benefits of incorporating mobile processing for your business, but there’s also a convenience factor to consider. Small business owners have to capitalize on every opportunity to make a sale, and mobile credit card processing can give you the ability to accept credit cards wherever you may be.
Which System is Right for Your Business?
Finding the best credit card processing for small business owners can be a bit overwhelming at first. The challenge many small business owners face is finding the right solution tailored to their business. Cookie-cutter merchant processing systems likely won't offer everything you need. Spending time to do some research and explore all available options will help you be satisfied with your processing system and make the most of every transaction.
At Precision Payment Systems, we do the legwork for you. We have a strong relationship with the leading credit card processors worldwide, so we can help small business owners find the best payment solutions for them at the best rates. And what’s even better - we offer a “meet it or beat it” rate guarantee! Be sure to contact us for a complimentary consultation. We’d love to help you take your business to the next level.