Payment Processing 101: Payment Options
Kudos to you! You’ve got your business registered and you are almost ready to flip the CLOSED signed to OPEN. One thing you need to have before you go full force is a good payment processor. A payment processor sets up your company so it can take payments. After all, you can’t make money if your customers can’t pay, right? This quick blog will walk you through some trendy payment options to get your business up and running.
Credit and Debit Card Payments
Credit and debit card payments are the most common way to accept payments. In this day and age, everyone has access to or owns a debit or credit card. Whether your customers are locals, tourists, or online the chances are they have a card readily available. Out of all the payment methods every business needs to be equipped with this option.
Learn more about credit and debit card payments here: https://msspay.com/home/payment-processing/credit-debit-card-processing/
Contactless payments are taken without the need to touch any equipment. First, a customer sets up their card information in their phone or app. Then, your POS system or card terminal scans the card information right from their phone. The transaction is made seamlessly with no contact necessary. This is a great payment option for customers who might have forgotten their card at home or are simply trying to stay germ-free.
Learn more about contactless payments here: https://msspay.com/home/payment-processing/contactless-payment/
Cryptocurrency payments have only been around for a few years. This payment option is a good way to prep your business for the future. As cryptocurrency and digital currency continue to grow they will soon become mainstream payment methods. Cryptocurrency payments can easily be added to your traditional payment methods. They have lower transaction fees. They can also bring more diverse customers to your business. Over 6% of businesses are already accepting Cryptocurrency payments so the time to get on board is now.
Learn more about cryptocurrency payments and solutions here: https://msspay.com/home/payment-processing/cryptocurrency-payments/
E-commerce payments allow payment processing through numerous platforms. Online payments require very high-tech security and flexibility that is compatible with your e-commerce store. Some of the solutions you can adopt with e-commerce payments are payment gateways, shopping carts, fraud and chargeback protection, and more.
Learn more about e-commerce payments here: https://msspay.com/home/payment-processing/e-commerce/
Invoicing is often used by businesses and clients to pay for services. Invoicing allows payments to be taken directly from your bank account and routing numbers. This offers additional layers of security and ease. Invoicing technology continues to advance with seamless ways to conduct transactions. One example is Text Invoicing to pay. This sends a text message directly to a customer’s phone where they can enter their bank details. Just like that, a secure transaction is processed.
Learn more about Invoicing here:
ACH Payments are very similar to invoicing, the major difference is the ability to send invoices by check. Businesses often issue e-checks or physical checks to pay for expenses and services.
Learn more about ACH Payments here: https://msspay.com/home/payment-processing/ach-payments/
Gift and Loyalty Cards
Gift and loyalty card payments are customized to fit your business and customers. When you take payments with these cards the chances of a customer coming back or gaining a new customer greatly increases. In addition to payments, you can add reward programs or point systems to sweeten the deal and promote customer loyalty.
Learn more about Gift and Loyalty Cards here:
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