May 4, 2015
For anyone who is currently operating a storefront or who is considering starting a business, it is important to understand the ways in which one may collect money for selling products and services, whether on the Internet or at the storefront. Making the right decision will help to increase the business profits.
When developing a business idea, it is important to include plans for managing the collection of the money to ensure that the business is making the maximum amount on the products and services while keeping the costs of doing business as low as possible. Therefore, it is best to research all the options and the costs involved.
In this day of digital products, it is amazing how many business owners still insist on accepting cash only for their businesses. By doing so, they are overlooking the fact that customers like choices and their competitors are constantly seeking ways to have a competitive advantage over other businesses. We cannot afford to overlook the advantages to accepting credit cards at the place of business, especially if we have a quality product or service to offer consumers.
I have recently published a new book for startup businesses about the credit card processing industry with the latest developments on the laws regarding credit card acceptance at storefronts and online. The book, The Retailer’s Guide to Merchant Services, includes information about rates, fees, advantages, and disadvantages of collecting credit cards. Join my mailing list.
August 10, 2009
Photo by Nazreth
British consumers today are using
credit cards and debit cards more because of the economic crisis. There has been a 10% increase over last year. Therefore, if you are not accepting credit cards at your retail store or at your website, you stand to lose business. Despite the admonitions to spend less money, some consumers continue to be impulse shoppers.
There are wireless and countertop models to choose from and there is even a wireless product to utilize while on the go. Nurit, Omni, and Verifone are the most popular brands to choose from. Depending on the volume you process, there is a product to meet your needs.
If you do not accept credit or debit cards, customers will go to someone who does. Although some may pay in cash as a last resort, you cannot afford to take the chance that you may attract someone who prefers to pay in cash.
Accepting credit cards can increase your profits and while we are experiencing hard times and earning less money as a result, accepting credit cards and debit cards can ensure business profits.
February 26, 2009
While I was out prospecting yesterday, I came across a business owner who was proud of the fact that she had an ATM machine and not a credit card terminal. She preferred to make money when the customers used the machine rather than to incure a charge for accepting credit cards.
Her ATM machine happened to be located at the front of the store next to the door. But, is that a good place to have an ATM machine?
Business owners should carefully consider where they will install their ATM machine or whether they should bother to have one at all. Incidents where thieves are driving through doors to get to the ATM machine are becoming increasingly common.