4 Things To Consider When Choosing a Merchant Account Provider

Your business needs a merchant account provider. Whether you’re selling local, handmade products or starting up an auto repair shop, your customers will expect a credit card processing system to handle transactions. Find out how you can compare providers using these four things to consider. Explore the Clover Flex price, competitive processing rates and other features before you determine the best merchant account provider for your business.

merchant business account

  1. Cost of the Equipment

Modern POS hardware doesn’t have to cost a fortune. State-of-the-art hardware gives you a convenient touchscreen, convenient cash drawer and built-in printer to handle all of your POS needs. Unfortunately, some merchant account providers charge a considerable amount just to receive and set up your system. Work with a provider who offers free or low-cost equipment for your convenience.

Affordable equipment doesn’t have to be poor quality. With the right merchant account provider, you can enjoy a Clover Station or Clover Flex. A Clover Station offers a stylish, intuitive setup that includes a cash drawer and other helpful features. A Clover Flex is a stunningly mobile alternative to process payments in more convenient ways.

  1. Processing Rates

Credit card processing typically charges a small percentage of the cost of each transaction. The percentage can vary, and some providers also add on a monthly or set fee for this service. Your credit card processing rate can take away a significant amount of your profits, particularly if most of your customers choose to pay with cards. Don’t pay more than 0.35% for your credit card processing, and ask about ways you can further lower the transaction rate.

  1. Discount and Reward Programs

Customers expect a personalized experience wherever they shop. Treat your customers right and gain a loyal following by working with a discount merchant account provider. Offer discounts for customers paying with cash to encourage more sales that avoid credit card processing fees. This passes the savings on to your customers, encouraging them to either spend more or to continue to choose your business for their products or services.
A rewards program is another great feature of a quality POS system. Ask your customers to enter their email to connect them with discounts, promotional items and other benefits. In turn, you’ll be able to send promotional emails and newsletters to stay connected with your audience.

  1. Additional Software Features

These features just scratch the surface of modern POS system capabilities. Consider a system that allows you to track inventory, monitor time cards and tailor the touchscreen to make life easier for your employees. Modern POS systems allow you to access a wide range of data and use it to improve your business model.

Choose a New Merchant Account Provider Today

Whether you’re opening a retail store or searching for a new automotive point of sale, it’s time to make a change. Work with a leading merchant account provider today to see how you can receive same-day approval and get started with your new POS setup. Start processing credit cards, mobile payments and other options at low rates with a safe, convenient system.

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