4 Ways For Small Business To Reduce Their Card Processing Fees

If you don’t want to pay hefty credit card processing fees, you may find this article helpful. According to small business owners, it is overwhelming to pay hefty fees for card processing. The statistics released by the Bureau of Labour Statistics tell that half of the startups fail within the first 48 months. According to predictions, there will be a 33% increase in credit card volume by the end of 2024. On the other hand, cash payment volume is going to go down by around 27%. Given below is a description of some common ways that can help you get the best deal. Read on to find out more.

1. Use Merchant Services rather than a Bank

If you work with the merchant service provider, you can use their merchant account for processing credit cards. Some banks do provide merchant services. In the reality, they outsource the services to third parties. As a result, they end up charging you extra fees for the services.

Therefore, if you use a merchant service provider instead, you don’t need to redirect your clients and customers to another provider. In addition, you can enjoy direct protection against fraud. As a matter of fact, more than 80% of startups fail because they have cash flow problems.

2. Go for a PCI-Compliant Payment Gateway

Basically, a payment gateway refers to a cloud-based software program that handles credit card processing. The role of this application is to support transactions conducted through credit cards. Apart from this, it creates a link between the card-issuing bank and the credit card network. After the approval, the funds are transferred from the credit card of the customers to the account of the merchant.

We know that this process involves sensitive data. Therefore, you may want to work with a PCI-compliant payment gateway. In other words, this type of gateway is supposed to use encryption and tokenization technologies.

3. Integrate your Payments

Instead of depending on an outside software program for your payments, we suggest that you hire the services of a provider that provides a means to process transactions inside your accounting software program. The idea is to get rid of double data entry and reduce human error.

If you integrate your payments, you can automate the process and avoid all the hassle and headache in this process.

4. Opt for a Personalized Service

Your time is highly valuable as a small business owner. Therefore, we suggest that you look for a personalized service that can handle the entire process. According to statistics, more than half of customers cannot resolve their problems if they cannot discuss the matter with a real person.

So, we suggest that you work with a processing service that provides personalized customer service. And this is of paramount importance for small business owners.

In short, if you want to reduce your credit card processing fees, we suggest that you try out these four methods. If you look at statistics, you will come to know that these methods have helped small businesses reduce these fees by 21%.

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A Simple Plan:

Using Solar Power For The Best Benefits

Energy maybe derived from various sources including the sun that comes naturally. With it comes a huge amount of energy that just goes past without being consumed. With numerous appliances within the building, power needs continue to rise and these can conveniently be served by tapping the power from the sun. Having a solar panel is the best approach to help tap on this energy and put it into good use. Basic requirements in this respect include the solar panel and the converter and the solar panel that tap and convert the power into a usable solution.

The cost of electricity continues to grow by each day. Installation of the solar power on the opposite continues to reduce on cost. Installations of solar power therefore comes as the best choice to save on costs involved in powering the appliances in place. This helps in making savings on power consumption costs and effectively leads to savings on the cost of running the household.

One of the greatest global concerns comes from the increasing global warming. This has been attributed to among other things the majority of power sources available that emit carbon into the air. Solar power has been one of the choices offered as alternatives that come with no risk of carbon emissions that affect the environment in a negative way. Embracing this solution therefore works in a great way to help conserve the environment for better living.

Production of solar power is not limited for any commercial or domestic establishment. In such way, it means the establishments have the choice to produce more power that the prevalent needs and in such way have surplus of the same. The excess energy produced through the solar energy installation offers with power that can be sold to power distribution companies. The property owner therefore stands to gain financially from the sale of the excess power produced.

Taste and preferences in modern times are a major concern in modern building trends embraced by commercial and residential property owners. The available range of solar panels to use for this purpose come in a range that covers this aspect. Manufacturers in this regard offer with a range of choices that seek to meet this need. With this option, the need for new roofing does not arise in the process of installing the new solar panels. Installation of the panels may also take place within the patio and offer with energy resources.

Every building continually increases its powering needs. All the prevalent needs can be served with the solar power tapped within the compound. It brings long numerous benefits both to the user and the environment. Of importance is to ensure the select choice comes in the right quality and further seek for a reliable service provider for the installation.

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