Now Is the Time To Review Your Processing Contract
Happy New Year! 2021 is finally here. While this is exciting news, we need to use this time to prepare for the year. Step one is to review your business credit card processing system and contract.
Every new year means new reviews. Now is the time you should review your business insurance policies, lease agreements, and client contracts. Add to the list anything that helps you make money and keep money in your business, including your credit card processing systems.
Do You Offer Touchless Payments?
The first step to ensure you are getting the best processing options for your money is to make sure you are offering everything your competition offers. We are in the midst of a pandemic. Therefore, you need to ensure your clients can safely utilize your systems.
No-touch payment options are necessary going into 2021. Many businesses offer Venmo, PayPal, Google Pay, and Samsung Pay options through their credit card processing systems. This process allows customers to use their phones and scan in their payment. They do not need to touch a keypad or ask you to touch their card.
Adding these options to your credit card processing abilities is an easy process. Call your processor to add these options in a few easy steps.
How Much Are Your Fees?
Once you check to ensure you have all the options your clients need, you need to check your rates. Credit card processing companies make their money through the fees they charge you. If you want to keep more money in your business, you should mitigate that loss every way possible.
First, review your fees. See if you can get lower fees with other processing companies. You would be surprised the options available. While each credit card company charges its own fees to accept their cars, processors add additional fees to use their services. You may not be able to lower the credit card company fees. However, you can lower the processing fees.
The key is to shop around to see who offers the best service for the money and who allows you to keep more of the money you earn.
Tanker Consulting Services offers a free annual review of your credit card processing services. Call 609.922.0201 to schedule your free consultation today and start saving money!