Beyond Credit Cards – What to Expect From a Merchant Account Provider
As a health and wellness provider, making payment easy for patients and clientele is a must. Choosing a merchant account provider is one of the first decisions a business must make when opening its doors. Most times, the decision is made with haste. The easy choice is to simply go with the provider recommended by your bank so that credit cards can be accepted.
However, a good merchant account provider should offer more than credit card processing and the lowest fees. Choosing the right provider can mean the difference between just swiping credit cards and truly efficient critical business operations.
So whether the research has just begun, or it’s time to take a second look at your current merchant account provider, here are some services to look at beyond credit card processing.
Automated Clearing House or ACH, is a network of financial institutions which allows for financial transactions. ACH Payment, or eCheck is the digital replacement for a paper check. It allows payment from patients and clients to be debited directly from their bank account and processes quickly, often in 1 or 2 days. In addition to speedy processing, other benefits include lower risk of fraud, the ability to automate payments and lower transaction rates.
Customer Loyalty is gaining huge popularity because of the success rates so many businesses have seen. One of the top 3 factors that influence loyalty according to a recent study, is “acknowledging my loyalty and importance to them.” Utilizing a gift card program will not only attract new clientele, it can also increase the spend of current clients and influence client satisfaction. Creating a customized, web-based gift card loyalty program can drive big numbers to your bottom line.
A POS, or Point of Sale system, helps businesses to sell to customers. A POS is a payment terminal and can be designed to serve multiple purposes. It can log the number and quantity of sales, while tracking inventory and letting you know when to restock. The right system can also serve as the backbone for your entire business’s daily tasks. For example, help you schedule employees, track useful data, and launch new marketing campaigns. It can even implement loyalty programs and email campaigns. A POS system can be a powerful tool to increase profits and drive sales. Especially when it is customized specifically to your type of business.
As valuable as choosing the right services, is making sure your provider understands how to customize a program that is tailored to your industry and business. The right collaboration can save considerable amounts of time and money.