Bill Gates, business guru and Microsoft co-founder, once said: “Information technology and business are becoming inextricably interwoven. I don’t think anybody can talk meaningfully about one without the talking about the other.”
Bill knows a little something about running a successful business. Whether you are ready for it or not, our world is becoming increasingly driven by technology. The small businesses that will not just survive but thrive in this tech-intensive climate are those that learn to adapt and stay abreast of current trends.
How savvy are you as an entrepreneur when it comes to the benefits of having a merchant account? Are you satisfied with your current customer base, or are you looking to ramp up your profits?
Partnering with a credit card processing firm can expose you to a wealth of potential customers.
This is how it works: Credit card processing companies authorize the transaction of customers who pay with plastic, and then transfer the funds from that customer’s bank to the merchant’s account. When you do business with a payment processing firm, you’re able to accept credit card payments in several different ways – in person, on the Internet and over the phone.
Some small business owners may shy away from the notion of opening a merchant account because they think they’re going to get locked into lengthy contracts with fees that are through the roof. Depending on the firm you do business with, payment processing can be very affordable. Some companies may only require a monthly fee for processing and a small percentage of each transaction. These lower fees allow you to keep more of your earnings and make your enterprise more competitive.
If you’ve ever driven to the bank with a sack of checks and bills to deposit, you know how time consuming that process can be. With a merchant account, the transaction process occurs within minutes and the money hits your bank within a day or two. This is a much simpler process than waiting for a check to clear.
Take Bill Gates’ advice and bring your business into the new millennium. A merchant account can help you do just that by giving your company more of a competitive edge.
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