As a small business owner, you know how important it is to have access to funds when you need them. When you allow your customers to pay on account, you often have to survive without the capital you’ve already earned for as long as sixty days. Since lenders have some of the strictest terms for both new and seasoned small businesses, finding and qualifying for business loans can be extremely difficult.
That difficulty is why small business credit cards have become the most practical alternative to business loans, invoice factoring and other financing options. To help you out, we’ve researched and compiled which credit cards offer the best bonuses and advantages for business owners like you: (read more…)
Here’s a recap of what Jeff had to say about processing transactions without being tied down to a wired terminal:
It wasn’t that long ago when a telephone line and electrical outlet were the two keys to keeping credit card processing fees down. If you were in a setting that didn’t provide access to these necessities, you ended up needing a special wireless terminal. While they were dependable and offered convenient features like printing receipts, many business owners were still turned off by the heftier price tag.
The good news is instead of paying six to eight hundred dollars for one of these terminals, as well as $20 or more a month for the required cellular service, it’s now possible to process credit card transactions with your existing cellphone. This is done through what’s known as a virtual terminal. By taking advantage of this feature from eProcessing Network, you can enjoy wireless processing without making a big investment in special hardware.
What’s really cool about this option is it gives you a lot of special features like:
Easily pairing your device with a Bluetooth credit card reader and receipt printer
Allowing customers to use your phone’s screen to sign for their transactions
Best of all, you get to enjoy this setup for a cost that generally falls below $300.
If going wireless sounds good to you, get in touch with us today so we can help you get up and running in no time!
A solution like a virtual terminal from Authorize.net makes it easy to accept and process online payments. However, there’s still one hurdle you have to overcome. Before visitors to your website pull out their credit card and make a purchase, they have to be certain that their personal and financial information is going to be 100% safe.
The key to preventing visitors from ditching your website before completing a purchase is to ensure they trust you. While this may sound like a tall order to fulfill, the good news is there are actually quite a few ways you can convey the fact that you run a trustworthy business:
Prominently Display a Phone Number
As a technologically adept business owner, you probably stopped drawing a distinction between “online businesses” and “real businesses” a long time ago. However, for a large percent of the population, this is still a significant concern. Luckily, there’s an easy way to show visitors who fall into this category that you’re a real business. All you need to do is prominently display a phone number on each page of your site. Even if visitors don’t actually pick up the phone and call you, knowing they can will make them feel good about your site.
Add Personality to Your About Page
It’s human nature to desire connections with other people. You can leverage this desire by using your About page to create human appeal instead of the impression of a faceless business. Increasing the effectiveness of this page can be as simple as adding a few personalized sentences about yourself or your employees. And if you’re not convinced that anyone actually looks at your About page, checking out your analytics data is quite likely to surprise you!
Include a Recognizable Badge
Multiple studies have confirmed that people feel more comfortable making purchases from sites that include a badge they recognize. Options that fall into this category include the BBB, McAfee Secure and TRUSTe badges. The one caveat to this addition is the studies found that more wasn’t necessarily better, so it’s best to pick the most relevant badge for your specific business.
Use Real Pictures and Testimonials
Given the fact that even smartphones now include quality digital cameras, there’s no reason to plaster cheesy stock photos on your website. Instead, as with your About page, real pictures give your business a face. And while testimonials are very powerful, don’t worry about polishing them to perfection. When news leaked that Zappos used Amazon’s Mechanical Turk service to proofread and correct their customer reviews, the overwhelming response was that this extra step actually decreased the trust levels of potential customers.
By taking advantage of these simple but very effective tips, you can give your website exactly what it needs to close more sales!
Electronic check acceptance (ECA) makes it easy to accept checks from customers. One of the special features of this service is the checks you accept can be from customers anywhere in North America, as well as Australia.
The way this TeleCheck service works is when a customer gives you a check, you run it through a terminal. This terminal takes pictures of the front and back of the check and translates the images into a digital format. Another cool feature is the terminal then prints out a receipt that you can give to the customer to sign. Since customers are used to signing the same type of receipt for credit and debit card transactions, this feature allows you to provide them with a familiar experience.
The last leg of the customer and merchant experience comes when you’re able to hand the original check back to your customer. If you’re wondering how that’s possible, it’s because after the terminal captures all the necessary information, it automatically voids the check. What’s great about this aspect of the process is it eliminates the need for you to deal with paper checks piling up on your desk.
Because of the secure manner in which the check information is captured and stored, the funds from that check will be fully guaranteed. This process also makes it possible for the funds to be deposited into your account in just two business days.
Is this Service Right for Your Business?
If you have customers who have wanted to pay with a check but you’ve had to say no to them because of the risks associated with the traditional method of accepting checks, this is the perfect service for you and your business.
Since this service is focused on making it easy for you to securely get paid, as well as providing your customers with a pleasant experience, checking their ID generally isn’t required. And even in the event that you do need to ask for their driver’s license, all you’ll need to do is swipe it through the terminal.
While TeleCheck isn’t the only company that offers this type of service, the reason they stand out is because they’re truly dedicated to making sure merchants like you get paid. In the event that a check is stolen, forged, fraudulent, attached to an account that doesn’t have sufficient funds or is actually closed, you will still get paid without getting stuck in an endless cycle of claims and forms. In fact, if this ever occurs, you won’t even know about it. Instead, TeleCheck will put the funds in your account, and they will take care of tracking down what’s then owed to them.
To top things off, because of the highly sophisticated approval system TeleCheck uses, they make it possible for you to accept checks of any amount. So even if you sell high-priced items like cars that result in single transactions for tens of thousands of dollars, using this TeleCheck service means you can accept checks without taking on any risk.
If you want to accept checks without:
Making trips to the banks
Paying a fee for every deposit you make
Being charged for returned checks,
get in touch with us today so we can discuss which terminal is right for you and help you get started with electronic check acceptance!
Although it may come as a surprise to others, business owners like you understand that one of the hardest parts of running a company can be getting paid. Even when you’re providing a quality product or service at a reasonable price, there are still a wide range of obstacles that can make it difficult to receive what you’re owed in a timely manner.
Wondering what options you have for processing debit and check cards? Jeff has the answers:
There are two ways for your business to process transactions from customers who want to pay with a debit or check card. The method you choose can either be based on a PIN or a signature:
When a customer is ready to make a purchase, they simply enter their personal identification number on a keypad after using their debit card.
Customers make their purchase by swiping their card and then signing the receipt that’s printed out.
Which One’s Best?
If this was 2002, we would advise you to process all of these transactions via the PIN method. The reason is during that time, it was significantly cheaper than the second option. However, because the last decade has seen changes made to the general pricing structure of these transactions, that’s no longer the case.
About five years ago, the cost to merchants to process signature based transactions dropped. And for the last five years, the cost of processing transactions with a PIN has actually risen. The end result is that for most businesses, using signatures to process these transactions will result in the largest savings.
The one caveat to this scenario is if you’re processing transactions that are over $50, you may save a bit of money by choosing the PIN method. However, that’s going to change in October of this year. The reason is there’s new legislation that will once again impact the pricing structure of how check and debit card transactions are processed.
Since that’s just six months away, if you’re currently deciding how your business is going to handle payments, chances are it’s going to make the most sense to go with signatures.
If you have questions about how October’s changes will impact your specific business, Jeff will be happy to answer them for you.
If you’re looking for a credit card processor, Authorize.net may be one of the options that you’re considering. With their virtual terminal, all you need to process credit cards is a computer and an Internet connection. What’s great about this approach to processing is it gives you more flexibility than options that tie you to a specific terminal machine.
Choosing a credit card processing company is an important decision. While the right company can help your business grow, the wrong one can create one headache after another. Since you don’t want to base this decision solely on what a company has on their own site, Jeff has some great advice about how to do your research:
Although it may seem too simple to be effective, Googling the name of the processing company you’re considering is actually a very useful tactic. The reason this research strategy works so well is because Google gives a nice mix of information in a single location. From reviews on blogs to customer discussions in forums, you can read real experiences from actual customers. Some of the sites where you can expect to find especially useful information include RipoffReport.com, ComplaintsBoard.com and Scam.com. While some of these sites may appear as a result of just one or two disgruntled customers, if you discover that there are a significant number of negative reviews, it should raise a red flag about that processor.
The reason you owe it to yourself and your business to take some time to research via Google is because the credit card processing industry is filled with a lot of selling practices that are fairly deceptive. Whether it’s sales reps promising more than their company can actually deliver or a company website that doesn’t paint a full picture, reading others’ experiences will help you avoid these costly pitfalls.
Keep in mind that if you’re already working with a company, it’s still worth your time to Google them. Not only can this help you uncover information that may lead to you deciding to make a switch, but you may also find out about a great feature or offer that you would have otherwise missed.
Another quick addition to the research process is to go to a company’s website and see if they have a BBB logo. If they do, actually click the logo so you can go to their BBB information page. This will give you more information about the company, as well as the ability to read any complaints that have been filed.
One other tip is when you type a credit card processor’s name into Google, see what other searches are automatically suggested. If you notice a specific issue, just click the phrase to easily see what comes up about it.
In the past, credit card payments could only be accepted with the help of a bulky machine. As a result, merchants were tied down to the location where they had their machine installed. Fortunately, as technology has progressed, it has made it easier to accept credit card payments
Taking them to the bank and waiting in line to make a deposit
If so, learn how Check 21 can make things much easier for you:
Here’s a quick summary of what Jeff explains in the video:
This service makes it possible for you to remotely deposit checks directly from your desktop or laptop computer. You can make deposits into both your personal and business accounts. This extremely convenient option is made possible by a check scanner. This specialized device makes it easy to quickly scan both the front and back of any check that you want to deposit.
Another advantage of Check 21 is it allows you to have access to your checks the very next business day. Given the fact that the industry standard is a waiting period of 2 to 3 days, business owners who switch to Veritrans are thrilled to discover this significant improvement.
How Much Does Check 21 Cost?
Once you pay for the hardware that is used to make remote check processing possible, the only other cost will be a small transaction fee. However, the reason that these costs do not deter most businesses from taking advantage of this service is because they are a fraction of the cost of manually depositing checks. When you calculate how much of your valuable time or an employee’s time it takes to organize the checks, fill out deposit forms, drive to the bank and wait in line for a teller, you will find that your initial investment in Check 21 can actually pay for itself in a relatively short amount of time.
Is Check 21 a Good Fit for Your Business?
While we will be happy to have a one-on-one consultation with you to see if Check 21 is the right fit for your business, Jeff mentioned a few examples of businesses that are a perfect fit for this service. They include:
If your business receives a significant number of checks through a drop box or by mail, it’s definitely worth crunching the numbers to see how much money Check 21 can help you save!