Last updated 1 day 17 hours ago
If you run a small business, accepting credit cards can help increase your customer base and your revenue. However, it is important to make sure you accept the right type of credit card. Here are some tips for choosing the right credit card.
- Pay Attention to Your Demographic
Before selecting a credit card, you should survey your customer base and see if you notice any credit card usage patterns. For example, one particular credit card may be particularly popular in the area where you do business. One method you could use to find out whether this is the case is simply to talk to other retailers about their experience. If you choose to accept a credit card that no one in your area uses, you will not be able to reap the benefit of those sales. Of course, if you are selling your products online, this is not as much of an issue.
- Consider the Credit Card’s Rates
After you’ve narrowed down your selection, make sure to consider processing rates offered by each of the credit cards. When it comes to merchant accounts, there are a number of different rates credit card companies apply. For example, credit card companies generally charge a certain percentage per transaction. In addition, they may charge an additional flat transaction fee and a monthly fee. You should also make sure to consider upfront costs you may have to pay for equipment, verification, or even an application.
If you run a small business, accepting credit cards could help you thrive. However, the credit card business can be complicated and, without the proper knowledge, harmful to your business. To learn more about tips for choosing the right credit card, call Merchant Advocate at (888) 602-6076. We provide merchant services and pride ourselves on helping businesses get the best possible deal when it comes to accepting credit cards.
Last updated 3 days ago
For more information on managing business expenses, click on the links below. Then contact Merchant Advocate for help with managing your business’s expenses and improving credit card processing rates—call (888) 602-6076.
- Merchants all around the country are refusing to take credit cards due to high processing fees. Learn more in this article from the Los Angeles Times.
- Check out this article from Forbes on the importance of lowering your credit card processing fees.
Last updated 5 days ago
Credit cards have all but replaced cash in the marketplace, which means greater access to goods and services for consumers. However, increased credit card use requires merchants like you to pay thousands of dollars every year in credit card processing services. These high fees are causing some businesses to cut scale back products and services, increase prices, or set inconvenient credit card limits. If you’re losing business, money, and sleep over the cost of your credit card processing fees, Merchant Advocate can help! Here are the three steps we’ll take to help you put money back into your business and keep the customers coming.
- Analyze Your Credit Card Processing Fees
First, Merchant Advocate will examine the cost of processing credit cards for your business. This will give you a clear understanding of exactly how much you’re paying every month, and how this compares to what other businesses in your area or around the country are paying. Rates from each credit card company vary, so you may not be getting such a great deal after all.
- Negotiate With Credit Card Processors
Once we have the information we need, we’ll take it to credit card processing companies and negotiate rate decreases for processing fees. We’ve had tremendous success helping small and mid-sized business save thousands of dollars a year through this process, and are confident that we can get you a lower processing fee rate!
- Monitor Your Credit Processing Savings
Finally, we’ll help you keep track of the money your business is saving every month. It’s our job to make sure that your credit card processing rates stay as low as possible so your business can continue to thrive.
Interested in learning more about lowering your credit card processing fees? Contact Merchant Advocate today at (888) 602-6076 to learn how you can start saving money on credit card processing fees today.
Last updated 13 days ago
If you own a small business, it’s likely that you play a number of different roles throughout the work week. In addition to managing personnel, product inventory, and customer relations, you also manage your company’s finances, which can be very stressful and confusing.
For help getting your business’s finances in order, download the Accounting Management app from Thomsen Business Information. This handy app gives you access to a wealth of knowledge on how to set up your own accounting system, how to utilize accountants, and a bunch of helpful templates and spreadsheets to get you started.
For help managing your business’s finances, contact Merchant Advocate today by calling (888) 602-6076. We’re a leading consulting service that specializes in credit card processing fee reductions that help you save money and expand your business.
Last updated 15 days ago
One of the most important parts of running a successful business is keeping your expenses under control. This requires accurate bookkeeping, strong negotiating abilities, and, of course, a profitable product. If you’re looking to get your company off the ground or bring it to the next level, getting the right financing is essential. Here are four tips to help you finance your business.
Have a Strong Business Plan
The first step to getting seed money or capital from an investor or bank is to prove that you have a good (or better yet, great) idea for a business. Investors want to make money off your success, so prove to them that you’re worth their time and money with an organized business plan that outlines their potential payoffs and profits.
Apply For Grants
Small and mid-sized businesses in all industries are eligible for a wide variety of grants from non-profits, the government, and other organizations that can help you expand your business. Grants are particularly enticing, since you never have to pay them back, and they typically come with business guidance and advice from experts.
Strike Up a Deal
Work with your suppliers to make paying them for goods and services more manageable. If your orders are large enough, they may be more open to floating products, discounts, payment plants, and other options for improving your cash flow.
Stay Lean
The most important way to keep your business going strong is to eliminate unnecessary expenses. One of the biggest expenses your small business will face early on is the feared credit card processing fee. Your company can lose thousands of dollars a month just by allowing your customers to pay with plastic. Nixing credit cards is not an option in this credit-intensive age, so make sure you keep your credit card processing fees as low as possible.
Merchant Advocate can help you negotiate with credit card companies to lower your processing fees and keep your expenses low. Call (888) 602-6076 to start saving money today.
