One of the most important things that you can do as a business owner or manager is investing in a good integrated card services system. After all, your ability to accept payments easily, quickly, and smoothly is vital for the success of your business. With this thought in mind, you should take the time to ensure that your small business has a good point of sale (POS) system in place.
Why Your Small Business Need A Good POS System
Integrated Card Services
Are you looking for a payment option that is easy to use and won’t leave your business in the dust as technology continues to advance? You should look for an option that uses integrated services that help make your POS system a unified and comprehensive one.
Accepting credit cards at your business is a must in the 21st century. Cash is no longer king and most people have at least two to three credit or debit cards. If your business can not accept credit cards you are missing out on a lot of sales.
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Weather your own one small business or multiple location, you need to upgrade your POS system to include a credit cards. Sometimes this technology can even help make your business a flexible one. Wireless credit card readers, for example, can serve you well wherever you might roam. You can bring the credit card machine to your customer or even outside for a sidewalk sale.
Many business are not going to tables and mobile options. Stores are no longer limited to a building. For example food truck and flea market venders are now accepting credit card with mobile and wireless devices. As a result, you can accept orders and payment from customers all over the world.
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What to Look For
The next thing you want to do when it comes to implementing a great POS system is to find a service provider that offers great technology and impeccable customer care at a great price. Make sure that you take the time to closely scrutinize their processing fees! Remember that you will be paying for every fee processed, which can cut into your profit. For this reason, you should make sure that your service provider offers the lowest credit card processing fees around. Keep your money where you need it: with you.
Processing a Credit Card
The one drawback to accepting credit cards is fees. Most credit card charge the merchant a fee to use their service. This fee can sometime be a percentage of the purchase or a flat rate. Depending on your business will depend on what you select. If you are selling large ticket items a one time fee is probably the best option for your business.
If you are selling multiple small items, a percentage fee is probably the best option. For example American Express changes a 3.5% fee for accepting their credit cards, where Visa offers a 1.51% fee. Understanding this will help you choose the right credit card machines. My merchant services companies will offer discount credit card machines or even free terminal for your business to use to help off set these fee and help you accept more credit cards.
Risk of Taking a Credit Card
Now that your business accepts credit cards there is some risk involved. When you make the decision to run your own small business and choose to accept credit cards you run the risk of fraud. There are bad people all over the world that commit credit card fraud everyday, everyday there are thousands of fake credit card transaction.
Before you start accepting it is a good idea to talk with your credit car machine provider about the risk involved. When it comes to finding out information about various payment methods as well as their safety, you could use a trusted merchant service provider to give you the best advice out there. They can even help answer the question about whether or not there is fraud related to credit card fraud.
Merchant account processing is truly one of the unsung heroes of the small business world. An excellent provider will be able help you understand things like fraud related to credit card, and how to avoid these issues. Some tips to keep in mid are to always check ID. Credit card are issued to one person or business and if the card dose not match the persons name it is most likely stolen.
For accepting business credit cards be sure to ask for a business card relating the person to the business. Ask to make a copy of the business card to hold onto one, if the person works for the company they should have no problem. Check ID is a great start, but always ask to touch the card as well. Many people who are commit fraud do not want to let their fakes to leave their hands. Most people had help a credit card and know what a proper ID looks like.
On most POS systems, after the card is swiped, the last digest of the card appears on the display screen. If these numbers don’t match up then you have a fraud. People can change the magnet strip of a credit card but its much harder to change the numbers on the card. Again be sure to ask to see and touch the credit card and ID.
Accepting the new EMV chips is a great help to prevent fraud, but you need to understand what happens if fraud still occurs. If an EMV chip is used and fraud occurs the credit card company is held reliable for the fraudulent charge. If a swipe happens and fraud occurs it is the merchant who is held responsible for the transaction.
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The Technology You Need
Another factor to keep in mind when selecting a merchant service provider is whether or not they offer the kind of technology you need to succeed. Whether you are opting for a more traditional business credit card machine or would like to invest in a portable credit card reader, make sure that the provider in question offers the kinds of options that help you meet your goals.
Are you looking for a great merchant services provider that offers impeccable service at a great price? Merchant Account Solutions has the packages you need and the technology you want. To find out more about how they can help you implement a great POS system, take a look at their website.