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Credit Card Processing For Businesses Explained
All businesses that want to take payments need to accept credit card payments if they want to maximise profits. The year in 2019 and the “cashless society” we have been living in which has been growing in the last decade has fully hit. Your customers now expect you to have a card processing payment solution and not providing this is going to lead to your business losing out on customers.
Picture a scenario that happens often. A customer enters a restaurant or cafe, makes an order and then when they go to pay they find out there is no card payment option. They rumble into their pockets looking to see enough money to find that they do not have enough. As a solution the shop assistant advises them that there is a cash point 5 mins away they can go to go to withdraw money in order to pay. Most customers who experience this will have a negative review of your business for the inconvenience they have experienced and are unlikely to recommend or return to your cafe or restaurant.
Getting setup with a credit card processing company will solve all these issues. Accepting card payments is one of the most important business decisions you can make if you want to increase your business profits. If you are unsure of the benefits it may help you to understand how card processing works.
As a business you are the merchant who accepts payments in exchange for the product or service you are offering. The cardholder is the customer who then uses the credit or debit card to make the payments to pay for the good or service. For this to work you as the business will need a merchant account in order to enable credit card processing. The merchant bank will then allow you to accept and deposit payments.
Payment processors providers such as Worldpay, Paypal, Sagepay and Elavon make all this possible. If you currently are not accepting card machine payments or are looking for a new payment processing provider let us help you. Get started by filling your details in our quote form and connect to our team to find the perfect card processing provider for your business.