Processing Credit Cards From Your Business Website
Are you looking for a way to process credit cards from your business website? Do you own a lawn service or maid service company and your customers would like the option of paying with credit cards? A report published in 2014 by the Federal Reserve Bank of San Francisco shows that cash is the most prominent method of payment, with credit and debit card usage on the rise. When talking about small-scale payments, cash is ‘king’. However, as the price of products grows higher, the method of payment begins shifting to credit and then to debit. Another factor to consider is the income of the households making the purchases. According to the data represented in the report, as the level of income within a household grows higher, so does the rate of credit and debit card usage. If you are a service company and provide services such as lawn care, cleaning, home repairs, or pool services, the homeowners may have higher incomes than most. So in turn, they may prefer paying with credit cards or debit cards.
So what does this mean to you?
Take a moment to consider your products. Who will primarily use your products or services? What are the costs of your products or services? Do you operate strictly online or do you own a service company and want your customers to have the option of paying online? For the latter question, if you answered yes to either part, then you NEED to accept credit and debit cards. Customers love options, they thrive on it. That is especially relevant when payment methods are being decided.
How can I process credit cards or debit cards?
There are two methods: create a merchant account through your bank or subscribe to a third-party merchant. If you want to do this through your own bank, first you have to learn if they actually provide those services. If they do, then they will have transaction fees that you will have to pay close attention to (third party merchants will most likely have fees as well). Your bank may also charge a contract fee and/or equipment rental fee. I suggest you call your bank immediately if you are considering this and run the numbers. Even if they do allow you to create a merchant account, how experienced are they with web-based purchases? You will also have to create or purchase additional software to be placed on your website which people will use to pay for your products or services.
The second option, which is preferable, is to at least start with a third-party merchant. Another word for these third party merchants is ‘payment gateways’. Using these payment gateways will greatly simplify the complexities of accepting credit and debit cards, especially for the beginner. You will fill out a short application and in most cases, have to send in a few documents verifying who you are. They are indeed banks, but ones that have obtained a wealth of experience in online transactions. Another benefit of using a third party merchant is that there are some very reputable companies out there that specialize in what you’re looking for. Your customers may already trust the merchant and therefore their trust in you as a company has increased.
Cost of Credit Card Processing Software
When looking at the cost of merchant accounts, pay close attention to monthly fees. You may be charged even if you don’t have any credit card transactions. The industry standard for these fees is around $20 a month. On top of the monthly fee, most merchant accounts will charge around 3% on each transaction. In one year, you can easily be charged hundreds of dollars in monthly fees. If you are just now considering accepting credit cards, try to stay away from monthly fees. You don’t want to be charged for something that you may not use, right?
Business Websites with Business Software
If you are looking for a complete business solution that includes a website, credit card processing, and an automated business suite, then check out WebWorksForMe.com. WebWorksForMe.com holds the key to a successful service industry business, whether you’re a lawn service, pool, maid, home repair, or pest control professional. There is no monthly fee for the credit card processing software through WebWorksForMe.com. On top of that, you will not be charged a transaction fee for the first $50,000 of credit card transactions. After the couple of minutes that it takes you to sign up for their business software, you will receive a business website, automated back office, and mobile application. The automated back office is just what the name implies…automated. Set up your appointments via the integrated calendar, then go into your mobile app and track the appointments by times and locations. Once you have finished a service, let your customer pay with a credit card directly from your mobile device. Throughout this process, your back office is generating reports that you can download in many different formats. Update your business website with pictures of your performed services and watch as customer reviews are submitted to your website. Their current promotion is $9.90 total for three months and then $29 a month after. This also includes a custom domain name for your business website. If you’re interested in their services, please go to WebWorksForMe.com or call 1-844-281-7300 to get set up with the promotion.
Thank you very much for taking the time to read this article. You also may want to read another article concerning credit card statistics. I hope that at the very least, I’ve given you enough knowledge to decide which route to credit card processing you will take. Please feel free to leave a comment and let me know if this article has helped your company.