Losing business by accepting only cash and checks?

Business

Many mobile professionals and business owners struggle with payment options. While on the road, moving from one workplace (or client) to another, it can be difficult to keep things organized. Most small business owners have the luxury of having a store, a cash register, and a credit card processing terminal. For them, there is no guesswork or possible “spin” involved: either the card has funds or it doesn’t.

Mobile business owners – such as landscapers, merchants, craft fair traders, and others – simply don’t have these luxuries. Most simply accept cash or check; the latter without guarantee that there are funds in the account. It can be difficult for them to find a payment method that is convenient for both themselves and their customers, especially for expensive items. Unfortunately, this can often mean that the sale is going to the brick and mortar merchant, simply because they accept credit cards and / or provide a financing option that does not involve some sort of collection arrangement.

(In other words, the credit card company acts as the “creditor” for them, in a sense, and gives the customer a self-directed financing plan on their own terms.)

Are you losing sales because you don’t accept or can’t accept credit cards? This is a problem shared by many mobile business owners. Imagine the sales you could have had at your last trade show or job fair, if paying a large sum had been easier and more convenient for your customer.

Customers carry less and less cash. We are fast becoming a plastic consumer society and few people like to bother with the hassle of cash or check books more. They prefer the ease and convenience of their credit or debit cards. Are you losing valuable sales because you don’t accept this convenient payment method?

Many business owners also prefer credit cards. They offer the advantage of instant approval. There is no waiting days for a check to clear and money to be deposited into your account. Credit cards provide 24-hour payments in a 24-hour world. Payments can be processed quickly, upon request.

What if there was a way to accept credit cards from your mobile office or workplace? This would allow you to develop your business from anywhere and at any time. Why should physical companies get all the customers?

What would this do for your business? Your business could grow by leaps and bounds, and you would be making life much easier for both your customers and yourself.

Here’s the good news: You actually have options. Here are two solutions to consider:

1. Use a wireless credit card terminal.

If your typical business day consists of a large number of smaller transactions (for example, a pizza delivery business with an average of 40 sales under $ 30 per day), then you should seriously consider purchasing a machine. of wireless credit card processing.

Your monthly fees for the merchant account (and equipment, if rented) will be average, as will the discount rate per sale, but the convenience factor plus the potential increase in sales from customers who don’t necessarily have cash. at hand it will. they probably more than make up for the monthly fees, and a little more.

2. Accept credit cards over the phone

Now, if you have a business where you are only closing a few sales a day, but with a higher ticket ($ x00 – $ x,000), then you want to minimize your merchant account costs because your credit card Transactions will be more of an occasional occurrence, although they will certainly affect your business when it comes to convenience, efficiency, and potentially even sales.

For example, if you own a landscape business where the average transaction is $ 600, you will find that quite a few customers will want to take advantage of your card’s built-in rewards points (such as “airline miles”), financing, or at most cases, both fringe benefits combined.

The benefit to you is that credit does not “bounce” and, in most cases, you will have access to funds much faster than with a check.

Now here’s the best part: you can accept credit card payments on the spot from any touch-tone phone, including your cell phone.

In addition, the main “pay by phone” services available have very low monthly rates and operate more on a “pay as you go” basis.

This is the perfect solution for a mobile business, or professional, where occasional credit card transactions are necessary (and profitable), but don’t justify the hassle of using a traditional terminal.

Some services cost as little as a few dollars a month at about 4% per sale.

So there you have it: two very viable options for the types of mobile businesses that would otherwise have to remain stuck in the “dark age” of cash and check payments.

Do your due diligence to see what service might be best for you and your clients.

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