Two news items this week show that your customers relationship to the credit cards they use to buy from you are changing. And also, more of them might be deemed worthy of that credit that previously thought.
AVP Solutions provides business merchant account services to all types of businesses around the world. Our experience of 25 years has situated us as an industry leader in providing merchants with the easiest methods to receive payment for their products and services. We evolve with technology so that you always have access to the latest payment options at the most competitive prices.
Receiving payment instantly for your service is not only business efficient but it can mean cost savings from not having to ‘chase’ your customer for payment. Whether you’re an electrician, a plumber, a trade show exhibitor, or a home sales representative, you can receive payment immediately, wherever you are.
We always like it, here at the AVPS blog, when pieces of “separate” financial news combine to make a single, bigger story, or to provide a trendline.
That’s happened again this summer, when a story about checks — and then another — caught our eye. The first was an article written in anticipation of an upcoming report from the Federal Reserve, which charts consumer payment habits.
Today, there are many different ways that customers pay and if you can’t accommodate a preferred method for a customer, money is lost. As a merchant, you need to be able to accept all forms of payment so that you don’t miss a sale.
In today’s economy, every business has to adopt a cutting edge strategy in order not only to survive, but prosper. Whether your business is a store front, online or takes you on the road, you need to be able to accept payment in all forms. Cash has taken a backseat to credit cards, debit cards, checks, online payments and mobile payment processing.
In increasing signs of a perking — or at least, stabilizing — economy, comes the news that late payments on credit cards are at a 20-year low. According to an AP article, the credit reporting bureau TransUnion is reporting “ the second-lowest recorded since the second quarter of 1994, when the rate was 0.56 percent, and it’s running ahead of the historical average of 1.03 percent. The firm’s records go back to 1992.”
For parts of the last two decades, hundreds of millions of dollars have been transacted through the Internet and millions of people have gotten wealthy by positioning themselves in a relatively new way of doing business. The trend continues today and there has never been more need for a business merchant provider to help your business with online payment services and overall guidance in transacting business electronically.
Sometimes it seems that the system doesn’t work for the new guy on the block. Obstacles seem to be everywhere to prevent you from starting your new business. Financing, government regulations, business plans and upfront costs all contain their own hurdles that must be overcome in order to get your business off the ground.