Since many consumers nowadays prefer plastic cards to the cash processing services, credit cards have become a standard requirement for new businesses. However, some companies avoid establishing merchant processing services due to the lack of information. That’s why it’s important to inform the representatives of the companies about the value that the credit card processing brings to the business. Once they learn about the sales increase and ease of use of the credit cards, they opt for it, as a rule.
Provide the traders with brochures, sales sheets that describe the service and merchant processing services reviews.
Educate the merchant about how merchant processing services work, providing information on the application process, what happens when a card is swiped or entered online, what is the merchant account number, and how the merchant will receive cash from the sale.
Explain all the costs of the service, including transaction-based fees, chargeback fees, monthly statement and gateway fees. Give information about all the possible costs for the customer to know what to expect.
Ask your dealer about the estimated monthly sales volume, as it can make a difference when defining the fees to be paid.
Cite the merchant processing services reviews and statistics. Tell them about sales that a merchant can simply lose by failing to offer credit cards as a payment method. Ask the dealer how many times has he lost sales just because the client found out that credit cards were not accepted. (This may be a rhetorical question – the point is to make the trader realise that the opportunity was lost.)
Ask the dealer to complete your merchant processing services application. Explain how much time does the approval process take to move forward. Find out what type of terminal does the customer want to get and if he needs the credit card swipe.
Send the customer his new merchant account number, access codes and other account details via e-mail or regular mail.
Help the customer to configure the terminal (if necessary), log into the system, and input the merchant account number and the customer’s website, in case the account was created as a gateway for online payments.
There are many reasons for the merchants to accept credit cards in their businesses, and very few not to do so. Of course, it’s not free and there are costs to be paid to have the merchants processing service as a method of payment. But these costs are further compensated through new sales and higher profits. It is a real buying power that merchants can’t ignore. Providing the credit card payment opportunity to customers as an easy and convenient form of payment requires a much less cost than, actually, losing a sale because of the its absence.
In addition, customers who have credit cards tend to spend more than those who use checks or cash. And also, according to the merchant processing services reviews, they tend to buy more often.
When a customer takes a decision to purchase something, he’s much more likely to buy more products and services, once the credit card payment service is available.