People could be paying with credit and debit cards rather than cash because of the convenience it gives and the feeling of security compared to bringing cash. Studies show also that customers have a tendency of buying more than intended when this method of paying is used. Because of these benefits, many establishments in Atlanta, GA accepts this payment mode.
All these transactions need an infrastructure in handling all these payments and establishment owners such as yourself pays for its processing fee. This, along with other monthly payments you have to make, becomes a meaningful expense for your business. So merchants are looking for ways to reduce card acceptance cost Atlanta GA by doing these things.
Negotiate with the card processors by letting them see that your business can add more value to theirs. This can be done by having numerous transactions in your establishment which they can use to negotiate with their suppliers. When you give them more that they can use to negotiate then when they succeed with the negotiations, then they could also accommodate your request and lower your fee.
The security risk of fraudulent transactions is proportional to your processing fee which means the higher the risk, the higher your fee would be. This can be reduced by letting your customers swipe their cards and enter security information whenever they pay for their purchases. When you transact by keying in the cards instead of swiping them, they are riskier and have higher fees.
Entering their security information lower the risk also and protects the cardholder and validate the purchase. Providing security zip code or billing zip code are effective ways of doing it. The risk of fraud would be increased when this process is skipped which increases the fees when transacting cards.
It is better to sign up with banks doing their own processing rather than those card processors so you could save on some fees. Most local and small town banks outsource this process to the bigger ones and does not do it themselves. You could still use these smaller ones to keep your deposits by letting your funds be deposited there by the big ones.
Provide a correct business information during set up of your account in avoiding higher fee in card processing. The information about the business type, and the transaction frequency and type is important to determine what must be paid. It is cost effective to process them every day rather than every after few days due to lower amount of transactions having lower fees.
Consult with an expert who can help you understand more about card processing and may help your business get lower rates from processors they know. Having someone with an insider information could help you have leverage when you negotiate. There is no need to switch one processor to another to see some savings.
Read the contract properly before signing it so you would be aware of all the fees they are asking. Determine the terminal functions you would use and avoid installing those that you will not so you would not pay for them. Some cards cost more to process so identify them and the qualifications needed to offset this.
All these transactions need an infrastructure in handling all these payments and establishment owners such as yourself pays for its processing fee. This, along with other monthly payments you have to make, becomes a meaningful expense for your business. So merchants are looking for ways to reduce card acceptance cost Atlanta GA by doing these things.
Negotiate with the card processors by letting them see that your business can add more value to theirs. This can be done by having numerous transactions in your establishment which they can use to negotiate with their suppliers. When you give them more that they can use to negotiate then when they succeed with the negotiations, then they could also accommodate your request and lower your fee.
The security risk of fraudulent transactions is proportional to your processing fee which means the higher the risk, the higher your fee would be. This can be reduced by letting your customers swipe their cards and enter security information whenever they pay for their purchases. When you transact by keying in the cards instead of swiping them, they are riskier and have higher fees.
Entering their security information lower the risk also and protects the cardholder and validate the purchase. Providing security zip code or billing zip code are effective ways of doing it. The risk of fraud would be increased when this process is skipped which increases the fees when transacting cards.
It is better to sign up with banks doing their own processing rather than those card processors so you could save on some fees. Most local and small town banks outsource this process to the bigger ones and does not do it themselves. You could still use these smaller ones to keep your deposits by letting your funds be deposited there by the big ones.
Provide a correct business information during set up of your account in avoiding higher fee in card processing. The information about the business type, and the transaction frequency and type is important to determine what must be paid. It is cost effective to process them every day rather than every after few days due to lower amount of transactions having lower fees.
Consult with an expert who can help you understand more about card processing and may help your business get lower rates from processors they know. Having someone with an insider information could help you have leverage when you negotiate. There is no need to switch one processor to another to see some savings.
Read the contract properly before signing it so you would be aware of all the fees they are asking. Determine the terminal functions you would use and avoid installing those that you will not so you would not pay for them. Some cards cost more to process so identify them and the qualifications needed to offset this.
About the Author:
Get tips on how to reduce card acceptance cost Atlanta GA area and more info about Results By Design services at http://www.resultsbydesignconsulting.com/#markets_we_serve right now.
No comments:
Post a Comment