5 ways merchant card services can better your business
February 12, 2020
Merchant card services are a must-have for any business to make payments fast and efficient. They can enable businesses to accept credit and debit card sales, which can help accelerate business collections, streamline accounting, and help verify secure transactions.
For many businesses, merchant card services are an important part of their growth.
Here are the top two reasons to consider merchant card services:
Increased customer satisfaction and sales volume
Accepting debit and credit cards allows for faster and more convenient purchases, which not only translates to happier customers, it also means an increased volume of sales. Research shows that customers are willing to spend up to 83% more when using a credit or debit card instead of cash.
Accelerated collections, reduced fees
One of the major benefits of merchant card services is reducing fees and processing costs while accelerating your collections. Accelerated collections could mean increased funds availability.
As Steven Espinoza, Treasury Management Specialist, explains,
“Gone are the days of the 'one size fits all' merchant processing mentality…we customize our approach for each business.”
A better way of doing business
It’s important to consider what’s best for you and your long-term goals. For local business owners like James A. Castro of Limatus Bespoke, implementing merchant card services enhanced his company:
“During a meeting, Steven asked questions and identified that The Bank of San Antonio could save us money on our credit card transactions. We quickly changed services and had all the equipment promptly delivered so we didn't lose out on any more money with our current provider.”
Opening a merchant card services account can change your business for the better, and who you choose as your banking partner matters.
"Most banks aren't too concerned with you as an individual; you're just an account number. I felt like since The Bank of San Antonio is home-grown, they took more interest in us as a company and not just our bank account. Supporting local businesses is one of our core missions at Limatus Bespoke and that aligns with The Bank of San Antonio as well. Steven is engaging and shows an interest in what we are about, and that let me know we found the bank for us."
Streamlined money management leads to better financial decisions
Managing cash flow is one of the most important tasks small businesses face, and merchant card services can provide accounting advantages that could simplify your operations. If your business was to implement merchant card services, you could instantly and automatically capture credit card transaction data. The automation of data collection allows for a more timely and accurate transaction history analysis, which could help you make more informed financial decisions for your business.
In today’s world, the safety of your financial transactions is paramount. By handling transactions digitally with merchant card services, your business can more easily monitor where and how your money is being spent. Using secure methods to process payments such as partnering with reputable credit networks or using an automated clearinghouse (ACH) can reduce your risks and help verify that financial transactions are handled safely and securely.
To speak to us about how our merchant card processing services can meet the unique needs of your business, contact Steven Espinoza today.