Growing your small business is now easier than ever. By harnessing the power of the Internet, savvy entrepreneurs can take advantage of a wealth of merchant services that will attract a larger customer base, jump start sluggish sales and boost their profitability.
When most people think of a merchant account, they tend to define it as an online system that allows them to accept credit and debit cards. That’s only part of the equation. Depending on which type of credit card processing agency you do business with, you can increase your company’s profitability by implementing the following services:
eCheck Options. Even though we live in a society that loves to wield its plastic, it’s hard to believe there’s still a sizeable chunk of the population that doesn’t own a credit card. For these shoppers, a merchant account that processes electronic checks, or eChecks, comes in handy. With this type of service, the merchant collects the account information and routing numbers displayed on a paper check and processes the payment electronically through a secure widely-used network known as ACH (Automated Clearing House). The shopper’s checking account is debited directly and your account is credited. No more driving to your bank every couple of days to deposit paper checks.
Loyalty Program/Reward Cards. A great credit card-based way to keep your customers coming back, as well as encouraging them to purchase more of your goods and services, is to offer rewards cards. These incentives also help you keep track of your customers’ spending habits to target them with specific offers. Depending on the credit card processing firm you partner with, they can set up the loyalty program as well as process and manage the reward points that shoppers rack up the more they buy. You can also consider adding gift cards to your menu of services, which can be branded with your company logo and colors. These cards not only inspire loyalty among your existing clientele, but they help you market to their family and friends as well.
The right merchant services can help brand your business as a leader in the ecommerce world, as well as expand your customer base. That’s why it’s vital to partner with a credit card processing company that understands your business needs and offers cutting edge products to enhance your bottom line.
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