The better question would be how does a phone credit card reader NOT benefit your business? Accepting credit card payments via your mobile phone means you can accept payments anywhere your customers are. You’re no longer restricted to retail locations, hoping your customer has cash or a check, or calling in a credit card payment. Now it’s as simple as swipe and go!
A virtual merchant account allows you to enter sales online from wherever you have an internet connection. Whether you are a virtual merchant or a brick and mortar business, this type of account can benefit you. While a virtual merchant usually processes many or all of their orders via their website, therefore requiring a way to process payments, a brick and mortar business who may not offer the option to place orders online benefits from a virtual merchant account in ways that include:
First of all, let us wish you happy holidays, and a Merry Christmas. We assume this will pertain throughout the 12 Days of Christmas, whenever you catch up with this post.
And as we all slip into more congenial, hopefully somewhat more relaxed “holiday time,” we also leave behind our reports of spending and card use trends, card security breaches (but oh boy — more about that in the new year!) and such, for a little bit, to contemplate how it was we got “here.”
If you have a website, you will need online payment services to be able to accept and process credit cards. There are a few ways that you can do this but the safest, most efficient and effective way is with a merchant account. Your customers will be able to place their order at anytime, without the assistance of a live person (unless they need personal service for some specific reason).
We realize we’re not even into the actual “Twelve Days of Christmas” yet, but already holiday spending trends are being compiled and assessed. A recent survey from Citi indicates that holiday spending may land on the “up” side this year, after all. According to the survey, “twenty-nine percent of Americans estimate they will be spending more than $1,000 this holiday season, up from 22 percent in 2011. Amongst those planning on shopping for the holidays, Americans will spend an average of $968, up $60 from 2011.”
If you’re just starting an online business or website, or have an existing one, you may be asking yourself what the difference between using an internet merchant account to process your payments and PayPal is and why you should consider one over the other. After all both options allow you to accept payments right? Yes. So then it doesn’t matter which one you go with right? Yes, it does. Here are just a handful of differences between the two:
If you’re in business, you need a way to accept payments from your customers, right? From accepting credit cards to accepting checks, business merchant services allow you to process the transactions that are vital to your business.
We take a brief break from the general cheeriness of our holiday reportage. If you haven’t seen it, PBS’ “Nova” — the science reporting show — had an article on their website from one of their contributors about how his identity was hacked, and used in an attempt to run up credit card charges.
Don’t make the mistake of thinking that checks are completely outdated and you don’t need to worry about providing that as a payment options these days. Not having the ability to accept checks could cost you money and the goal of any business is to make money, not lose it.