{"id":810,"date":"2018-07-20T11:04:03","date_gmt":"2018-07-20T11:04:03","guid":{"rendered":"https:\/\/www.paycron.com\/?p=810"},"modified":"2025-01-27T15:22:20","modified_gmt":"2025-01-27T20:22:20","slug":"small-business-credit-card-processing-is-changing-the-revenue-graph-drastically-comprehensive-study","status":"publish","type":"post","link":"https:\/\/www.paycron.com\/blog\/small-business-credit-card-processing-is-changing-the-revenue-graph-drastically-comprehensive-study\/","title":{"rendered":"Small Business Credit Card Processing \u2014 Changing Revenue Comprehensive Study!"},"content":{"rendered":"\n

There have been fumes of change engulfing technology and finances altogether, leading to an increased use of plastic cash and offering more revenue opportunities. However tempting it may sound, the truth behind it depicts another story. When it comes to credit card processing for small businesses in the US, 75% of small business merchants find it challenging to introduce a new payment method<\/a><\/strong> into their process, as their consumers aren\u2019t ready to accept the change. The brick of rejection stands tall on the clients\u2019 side as the fear of fraud pricks them.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Check Out The Acceptation Of Payment Methods By Merchants and Consumers \u2014<\/h2>\n\n\n\n
\n
Payment Method<\/strong><\/td>Consumers (%)<\/strong><\/td>Merchants (%)<\/strong><\/td><\/tr><\/thead>
Debit\/ATM<\/strong><\/td>54%<\/td>56%<\/td><\/tr>
Credit Card<\/strong><\/td>43%<\/td>69%<\/td><\/tr>
Cash<\/strong><\/td>69%<\/td>43%<\/td><\/tr>
Digital Wallet<\/strong><\/td>27%<\/td>41%<\/td><\/tr>
Electronic Bank Debit\/ACH<\/strong><\/td>14%<\/td>26%<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n

For B2B and B2C relationships, the behavioural pattern is changing and tends towards dynamicity. So, are you wondering is it worth to invest in small business credit card processing<\/a><\/strong> in today\u2019s scenario?<\/p>\n\n\n\n

Let\u2019s look at the detailed information and decide what looks perfect for your business.<\/p>\n\n\n\n

<\/p>\n\n\n\n

What Are The Benefits Of Accepting Credit Cards?<\/h2>\n\n\n\n

Thinking about up front charges and added fees of owning and maintaining merchant account<\/a><\/strong> might make you cringe but its benefits will fade that fear away.<\/p>\n\n\n\n

Time Saving:<\/h3>\n\n\n\n

With limited steps, fast processing and easy integration,<\/a><\/strong> credit cards save customers\u2019 and your time. Keeping a customer wait in the queue gives them time to review their picked items which might turn negative for you as they might switch\/cancel\/leave anytime during the wait. Therefore, for faster checkout process, nothing works like credit card.<\/p>\n\n\n\n

Higher Sales:<\/h3>\n\n\n\n

When there\u2019s no restriction of cash, people tend to shop freely. Interestingly, America\u2019s 4th biggest contribution in debts in is by credit cards (6% debts). Clearly, this indicates towards higher sales as people are comfortable in utilizing credit cards for necessity or luxury.<\/p>\n\n\n\n

Flexible Process:<\/h3>\n\n\n\n

Another reason which is considered by the clients to pay through credit than cash is the safety. Credit cards come with no-fraud guarantee, reward points, credit score enhancement and more. Also, clients like to have options – Cash, online or credit.<\/p>\n\n\n\n

Legitimacy:<\/h3>\n\n\n\n

Lastly, it comes to more superficial but crucial aspect of business – your rapport in market. Including latest technology by accepting plastic cash makes your business favorable entity in market. With stronger trust foundation, you gain your clients\u2019 preference.<\/p>\n\n\n\n

These benefits support inclusion of credit card processing in your small business.<\/p>\n\n\n\n

<\/p>\n\n\n\n

What Are The Ways To Accept Credit Card?<\/h2>\n\n\n\n

This decade has unfolded the large spectrum of online business and scope of monetary transaction in secured and assured manner. Look at these ways through which you can accept credit card payments<\/a><\/strong>:<\/p>\n\n\n\n

1. In-Store & Over The Counter Sale:<\/h3>\n\n\n\n

Incorporate a POS system<\/a><\/strong> or simply purchase a credit card reader<\/a><\/strong> for your store. Along with payment perks, multi-branch company chains can easily track progress of sales, keep customers\u2019 information and allocate inventory as per demographics.<\/p>\n\n\n\n

2. Online Sales:<\/h3>\n\n\n\n

If you\u2019re planning to start your eCommerce business then a website and online payment becomes inevitable for you. To integrate both, you\u2019ll need merchant account and gateway. Giving away information over Internet scared people but encryption and secured platforms have cashed their trust. That\u2019s why experts suggest, \u201cChoose your payment processor <\/a><\/strong>more carefully than your date.\u201d<\/p>\n\n\n\n

3. Mobile Sale:<\/h3>\n\n\n\n

This is the latest of the above techs. Like our Phone Swipe terminal, you get a device imitating a card reader but quite handy and a software which enables you to convert your smartphone or tablet, a on-the-go gateway for processing safe payments.<\/p>\n\n\n\n

4. Online Invoicing & Recurring Sales:<\/h3>\n\n\n\n

Online virtual terminal and merchant account<\/a><\/strong> is all you need to accept payments through credit cards where the customer pays his\/her invoice online. Similarly, recurring payments<\/a><\/strong> can be processed through the same channel by letting the clients activate recurring billing.<\/p>\n\n\n\n

<\/p>\n\n\n\n

The Final Verdict \u2014<\/h2>\n\n\n\n

Thinking about growth and not implying the concept on your business model will not make you efficient in long run. Also, sooner the assimilation of newer technology, better are the chances of grazing future with full support of your audience.<\/p>\n","protected":false},"excerpt":{"rendered":"

There have been fumes of change engulfing technology and finances altogether, leading to an increased use of plastic cash and offering more revenue opportunities. However tempting it may sound, the truth behind it depicts another story. When it comes to credit card processing for small businesses in the US, 75% of small business merchants find […]<\/p>\n","protected":false},"author":9,"featured_media":6457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[250,252,251,267,36,10,3,233,202,210,235,6,266,114,224,272,27,78,276,28],"tags":[56,108,43,52,184,129,61,172,59,47,44,288,222,220,294,291,290,145,40,144,147,183,289,295,231,238,185,292,83,19,20,154,280,11,273],"class_list":["post-810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-b2b","category-b2b-payment-gateway","category-b2b-payment-processing","category-credit-card-processing","category-ecommerce-merchant-accounts","category-finance","category-financial-services","category-high-risk","category-high-risk-merchant-account","category-high-risk-merchant-services","category-high-risk-processing","category-merchant-account","category-merchant-services","category-merchant-services-company","category-payment-gateway","category-payment-processing","category-payment-processor","category-pharmacy-merchant-account","category-point-of-sale","category-pos-technologies","tag-3rd-party-merchant-account","tag-application-for-merchant-account","tag-apply-for-merchant-account","tag-best-merchant-account","tag-best-merchant-accounts-for-financial-consultants","tag-best-merchant-accounts-for-florists","tag-best-merchant-services-for-restaurants","tag-business-consulting-merchant-accounts","tag-credit-card-processing","tag-credit-card-processing-for-small-business","tag-easy-approval-merchant-account","tag-echeck","tag-echeck-payment","tag-echeck-payment-gateway","tag-echeck-payment-processing","tag-echeck-payment-processing-solutions","tag-echeck-payment-solution","tag-ecommerce-merchant-account","tag-ecommerce-merchant-account-providers","tag-ecommerce-merchant-accounts","tag-ecommerce-payment-solutions","tag-financial-consulting-merchant-account","tag-financial-services","tag-high-risk","tag-high-risk-credit-card-processing","tag-high-risk-merchant-account","tag-high-risk-merchant-account-financial-consultant","tag-high-risk-merchant-account-services","tag-high-risk-payment-gateway-for-pharmacy","tag-merchant-account","tag-merchant-services","tag-online-gaming-payment-gateway","tag-payment-gateway","tag-payment-processing","tag-small-business-credit-card-processing"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t