If your business is small and growing, increasing its payment options is critical to supporting its growth. Facilitated by merchant accounts, check, debit and credit payment allow your business to increase sales by making it easy for customers to pay. According to research, the average cash purchase is nine dollars, while the average credit card purchase is forty dollars. This means you can increase revenue simply by accepting credit payments. If your business is without a credit card merchant account, below are four reasons why it should open one today.
Lower Account Fees Than Standard Merchant Accounts
Standard merchant account fees include transaction fees, monthly minimum fees, discount rates, statement fees and gateway fees. Combined, these fees subtract a meaningful percentage of income from each sale. For large businesses that have a high sales volume, account fees are affordable. As it applies to small businesses that have a low sales volume, they can be crippling, especially when lower sales volume equals higher fees.
To help small businesses remain profitable, AVPS offers Small Business Merchant Accounts where certain fees are waived or reduced.
Opportunity to Accept Credit Payment Online
Research shows that accepting credit payment online can boost a business’ sales by over seventy percent. This is because an online credit account (a) accepts the most preferred method of online payment, (b) reaches consumers worldwide and (c) allows consumers to buy more freely than they can with debit. Accepting credit payment online is an excellent way for small businesses to increase sales without resorting to expensive ad campaigns.
More Security than Cash or Check Payments
Storing cash in an onsite safe and making large bank deposits increases the risk of robbery. Similarly, consumers that carry large amounts of cash can become targets for muggers.
Check payments bring a different kind of insecurity. From a business perspective, they make it easier to make fraudulent purchases. For consumers, they could result in lost or stolen checks. Small business credit card processing eliminates these risks by allowing customers and businesses to make and receive secure cashless payments, respectively.
Opportunity to Accept Payment Wirelessly
Small businesses commonly sell at trade shows, public gatherings, and other out of store events to stimulate business interest. In these situations, accepting only cash and checks limits what they can sell. A better idea is to accept credit payment using a wireless card terminal. Functioning like a standard card terminal, but without wires, a wireless terminal is also ideal for businesses that accept payment upon performing services or making deliveries at changing locations.
AVPS Specializes in Small Business Merchant Accounts
At AVPS, we have twenty-five years of experience in both Small Business Merchant Accounts and servicing merchants. Unlike some MSPs, we work with small businesses to achieve the best account options and fee structures for their business needs. If your business needs small business credit card processing, we can supply options that make accepting credit cards lucrative, not prohibitive.
If your business is missing out on the incredible revenue that credit payment can generate, Call AVPS today.