Small businesses need to accommodate customers of all types to grow their company and revenues, which means a POS system is critical. These days, not many people carry cash. However, many point of sale (POS) systems make small business owners anxious — are they worth the processing fees, will they be secure, and how can a small business owner make the right choice? Gateway Payments is here to help.
An investment in a sound POS system is well worth it, particularly when that POS system works not just to accept payments but improve your business. Here are a few things to consider when selecting the right POS system for your company.
Many customers expect to be able to use mobile payments wherever they go today. With smartphones in their pockets, payment apps ready to use, and an increasing desire to go cashless, mobile payments are not just the future for your clients — they are the present. If your business does not offer mobile payment processing, you are likely missing out on sales. But Gateway Payments can get your business back on track.
Why should you offer mobile payment processing, and how does Payroc benefit your business on the go?
Did you know that there are roughly 600,000 new businesses in the United States each year? However, many of these businesses tend to fail within the first few years.
As you might expect, part of operating a successful company includes investing in the right business practices. This is especially true for eCommerce stores.
Payment processors are something every entrepreneur should understand, but not everyone knows where to start. We’ve created a brief guide that outlines the key factors you need to know about how they affect your eCommerce site.
What Are Payment Processors?
In short, they are the middlemen that handle online transactions. When you make an online purchase, the payment processor is the one that verifies your information and processes the transaction.
Each of these processors has its own set of features and benefits, so it’s important to choose the one that best suits your needs.
How Does Payment Processing Work?
When you make a purchase online, the payment processor will first verify your information.
Once your information is verified, the processor will then authorize the transaction and send the funds to the merchant. The entire process usually takes just a few seconds.
There is a handful of terms to keep in mind when it comes to payment processing.
Understanding these will help ensure that you recognize potential issues and make the right decisions. Listed below are some of the most notable.
There are many benefits of using a payment processor, but the most important one is that it makes online transactions more secure.
Payment processors use several security measures to protect your information, which helps to reduce the risk of fraud and identity theft.
Another benefit of using a payment processor is that it can help you save money on transaction fees. When you use a reputable payment processor, you can avoid paying the high transaction fees that come with using a credit or debit card.
Finally, payment processors can help to streamline your online transactions. You can keep track of all your transactions in one place, which makes it easier to manage your finances.
Are There Any Risks?
There are always risks associated with any type of online transaction, but the risks are relatively low when you use a reputable payment processor. Unfortunately, the cybercrime industry is projected to be worth over $10 trillion by 2025. So, it’s more important than ever before to maintain security on your eCommerce site.
The best way to reduce your risk is to choose a processor that offers a secure platform and has a good reputation. This will help make sure that you avoid problems in the future that you may have otherwise encountered.
How Can I Benefit from Working with a Professional?
A good processor will offer a secure platform, competitive rates, and excellent customer service. In addition, a professional can help you save time and money by streamlining your transactions.
You can avoid the hassle of dealing with multiple vendors, and you can focus on running your business. Additionally, when you work with a professional, you can be assured that your transactions will be processed quickly and efficiently.
Payment Processors Don’t Have to Be Complicated
It might seem difficult at first to understand payment processors, but it’s easier than you might expect it to be. Make sure that you keep the above guidelines in mind so you can avoid problems you may have encountered.
Looking for more information about how we can help? Reach out to us today to see what we can do.
