As a business owner, it is more than likely your establishment will be accepting debit and/or credits as methods of payment (if this isnâ€™t the case, it might be time to seriously reconsider this decision). As such, there is no better way to guarantee a successful business day than to have your payment processing systems up and running, ready to accumulate capital for your business while enabling your customers to enjoy your products and services. Without the certitude of being able to accept payments in a timely manner, any given establishment could easily lose a number of customers.
If you think itâ€™s time to upgrade to a new POS system in order to maintain a competitive edge, itâ€™s important to do some research regarding the nuances of the service providers out there today; you can, for example, visit Malaqy.com/products/ to learn more about the reliable offerings from the Malaqy Group â€“ including, but not limited to, credit and debit card terminals, wireless or countertop POS systems, and Ecommerce and Gateway solutions. Indeed, there are number of merchant service providers who differ from companies like Visa and Mastercard, in that they are more transparent when it comes to transaction fees and customer service, should something go awry. Using the services of companies with high volumes of clients could result, for instance, in less hands-on assistance from their customer service agents; this is less likely to be the case for companies that focus solely on matters of payment processing.
Additionally, whether or not there is interchange-plus pricing should also be brought to the forefront of your deliberations; if a service provider does not offer this, itâ€™s recommended that you seek out another company. Interchange-plus gives you transparency as a business owner â€“ not only do you get to see the initial interchange fee (i.e., what a credit card company charges per transaction), but exactly youâ€™re paying to the payment processor. Other methods are not as clear-cut as this, such that additional hidden fees could be thrown in the mix, depending on what kind of card the customer has swiped â€“ without interchange-plus, there is the looming possibility of being unjustly overcharged simply because someone desires to pay with an airline credit card, for example (they tend to complicate the process).
Moreover, if you have an online representative of your brick-and-mortar establishment, itâ€™s vital that your payment processor be compatible with the shopping cart of your webstore through what is known as a payment gateway â€“ if this isnâ€™t the case, it might be time find a new provider, lest you miss the opportunity to make sales in a way that is more convenient for many potential customers.
In short, if you have been underestimating just how integral choosing the right merchant service provider truly is, itâ€™s not too late to change your attitude and perhaps prompt an overhaul in your current business model by embracing the efficiency of the technology available today.