Entries tagged with “Mobile Payments”.

Every company is different, so why should there only be a few ways to accept payment? Your company needs a payment processor that will fit you, not the other way around. Mobile payment options offer greater diversity and mobility. Here are five types of companies that are ideal for mobile card readers.

1. Multi-Level Marketing Company

Multi-level marketing companies are always on the lookout for ways to help their sales reps. When sales reps have to spend valuable time hand-recording information, they lose selling time. Writing down credit card numbers is not only tedious, but is prone to inaccuracies. When reps later try to place and process an order, but have the wrong credit card number, it takes yet more time to contact the customer, ask for his or her credit card number again, and give the customer the opportunity to reconsider the purchase, potentially resulting in a lost sale. Hand-recorded credit card information is also at a higher risk of being lost or stolen, which presents a serious security risk to customers.

A payment option like ProPay JAK, a mobile card reader that can plug into the audio jack of any smartphone, will make payment processing quick and easy for sales reps. Instead of having to spend all that valuable time recording and then hand-entering credit card information, they can take a few seconds to swipe a card. Then later, they can just match the order with the processed amount, and they’re done! Plus, since credit card information is encrypted when the card is swiped, security issues are virtually eliminated. It’s also a snap to set up recurring payments with ProPay’s EnsureBill service, which securely maintains and updates customer credit card information. And if those aren’t enough reasons to use a mobile payment process, paying the lower “card-present” processing rates, rather than “card-not-present” rates will save money.

2. Food Truck

Food truck owners are always on the lookout for anything that will fit with their mobile business. They can already make delicious dishes on the go, but their busy, always-on-the-go clientele can’t always pay with cash. Even when “Cash Only” signs are clearly posted, food truck employees are constantly asked if they take credit cards. Can they really afford to tell all their potential customers, “Cash Only”? Having to purchase a large and expensive point of sale (POS) system when space and money are both premium assets is a hassle they just don’t need. A mobile card reader that plugs into any smartphone will turn the device into a small and completely mobile POS system. Customer credit card information can be processed and authorized within seconds. Plus, the information will be encrypted, keeping sensitive information secure. For a totally mobile business like a food truck, a totally mobile solution is what’s needed.

3. Boutique

Boutique owners are all about a personalized shopping experience. Their merchandise is as unique and sophisticated as their clientele. Boutique customers look for a level of luxury and joie de vivre that they can only find in a boutique. But, after personally helping customers find that perfect item, making them wait in a long line to check out can be disconcerting. Few things are more impersonal than a busy check-out line with a harried employee manning the register. A mobile payment option that can be used with any smartphone or tablet will extend customers’ personalized shopping experiences right to the point of payment. Instead of helping customers and then sending them off to the checkout, employees can securely accept payment right where they are. A mobile payment processor will mean no more long lines, and will increase that meticulously cultivated sense of personalization and sophistication.

4. Coffee Shops

Whether a coffee shop is cute and cozy, or sleek and modern, they’re all about offering their customers the best. The best coffee is an absolute must, but a positive experience from start to finish is just as important. Some customers may need to get in, get their daily fix, and get out as quickly as possible. But others will want to linger and enjoy the atmosphere. Regardless of whether they stay or go, no one wants to deal with payment hassles. A mobile reader that can attach to the headphone jack of any tablet makes payment a snap. A large user interface lets customers quickly and easily see their total. Plus, the app can be set up to automatically offer a tipping option. It can even offer an email receipt option that will cut down on paper waste for both you and your customer. With such a fast and easy payment method, customers can get the best with none of the hassle.

5. Restaurant

The focus of any restaurant should be on the quality of the food, not the length of the wait. Waiting for a table to become available can drive some customers straight into the arms of the competition. Not only do customers have to wait to get in and start eating, but they also have to wait at the end. Whether they have to get up and pay at the counter, or wait for their server to bring the check and then process payment, eating at a restaurant can sometimes mean more time spent waiting than dining. A lengthy payment process can slow down table turn over and increase waiting time for other customers. A mobile payment processor that can be used with any smartphone or tablet will let servers accept payment, allow customers to leave a tip, and sign, all in one easy process that will eliminate that wasted time where customers are waiting to pay. Customers will get a quick and personal experience, meaning more can be served without feeling rushed out of the door.

Fraud prevention has the potential to be one of the most cost-effective investments your company makes. To calculate your ROI, however, you need to understand the opportunity cost associated with fraud prevention.

A recent Yahoo Finance article reports on how much UK businesses lost due to fraud. Here are two of the most important figures:

- The average amount of money lost was $4,000

- 1% of SMBs lost more than $15,500

The article also explains that all businesses, whether small or large, can be impacted by fraud. We often say that small businesses are at a greater risk of fraud since hackers know they don’t have sufficient resources to invest in fraud prevention. Hacking small businesses isn’t as fruitful as hacking banks, but it’s easier to infiltrate unprotected technology systems that small businesses often use.

A cost-effective way to practice fraud prevention and protect your business is to use encrypted state-of-the art payment processors. These add an additional layer of security when your clients pay with credit cards. Moreover, you get to track payments in case someone tries to scam your business. The important thing is that you choose a payment processor which fits your company’s needs. There are tons of payment processors out there, and they all vary in terms of features and functions.

We recommend taking your time and researching a few payment processors until you’re completely satisfied with one. Feel free to reach out to if you have any questions about technical specifications.

When you want a great product and a great service, it always comes with a price. Some of those prices are known ahead of time, but sometimes there are hidden fees that companies do not find out about until later. In the industry that handles merchant services, it is generally not the price that raises eyebrows, it is the way providers hide their fees. The price that you are given may seem reasonable, but then you will be hit will several hidden fees at one time.

When you are trying to find a payment processor, the fees will certainly be a big factor that will have a part in your decision. If you are given a proposal from a payment processor provider with a list of services and prices, you may not get what you are expecting and you may not pay what the proposal claims you are going to pay. For these reasons, it is important to know how to protect yourself from hidden fees from payment processors.

Here are some of the common fees that you may expect to see from a payment processor or merchant service:

Transaction Fees

In many cases, you can expect to pay up to 20 cents when one of your customers swipes a debit or credit card. You will see this fee even if the transaction does not go through completely. This can be listed as a transaction fee, but it can be different for debit card transactions. You should ask the provider of your payment processor to outline all of this information, for both credit and debit transactions.

Fees For Paper Statements

You can expect to pay a fee for the monthly paper statements. This fee can be as high as $15 and as low as $5. However, you do have the option to receive these statements online. If you choose this option, the fees may be removed or these fees may be reduced. You should speak with your payment provider about this to be sure.

You need to select a provider who will be honest and upfront about all of the fees that you will be charged for. No one wants to receive a bill that will surprise them because of all the hidden fees. Contact us for support in protecting your business from those hidden fees.

The need to protect the financial data of your customers is more important now than it’s ever been. Not only could a cyber breach set you up for multiple lawsuits, but it could badly hurt your company’s reputation online. Here are some tips on how to avoid cyber security breaches regarding financial data.

Use Cloud Access

It’s true that this can be difficult to set up, but having a “bring your own device” option for employees will not only make them happy, but it will also allow you to institute cloud policies instead of trying to clear each and every device that accesses your sensitive financial data.

This is important, because if the device is stolen or lost by an employee, it means that the system will automatically block them out, and anyone who gains access to the device won’t have access to the financial data since there’s none on the device.

Screen Employees

Some financial breaches are actually inside jobs in which employees gain privileged access to detailed financial data. You can prevent a potential cyber breach before it happens by doing proper background checks and screenings on all employees before giving them access to your sensitive systems.

Use Trust Seals to Protect Your Website

There are various companies out there that will help you protect your site from potential breaches on a daily basis. These sites will let you put their seal on your site. This will reassure your customers that their data will be protected, and it may also deter potential cyber thieves from even trying in the first place.

For more information on ways to prevent breaches, please contact us today.

Owners of small businesses are a group of hard-working and dedicated people. Small business owners only come up for air when, well, do they ever come up for air? This can be one of the problems that several small businesses have. They are so bogged down with daily tasks and the pressure of running their own business that they forget that there are other things that need to be taken care of.

It is good to take a few steps back and review everything that is going on. If you have been going non-stop for months, now is a good time to take a step back to ensure your business has success for the remainder of the year and years to come. Here are some small business financial success tips that can help you achieve your long-term goals.

When Do You Normally Manage All Of Your Finances?

It is always important to set aside some time to manage and keep track of your finances. Getting accustomed to spending time each day reviewing and organizing your financial documents, such as your invoices, your billing statements, etc.

When you put together a plan like this, you will have a better understanding of where your small business is financially. It will certainly make things easier on you when you have to find documents at the last minute or when you need documents to file taxes.

What Happened Last Year?

If you were not pleased with what happened in 2014, then you may need to establish better habits for the rest of this year. It is always important to begin the year with good financial habits because you will become accustomed to those habits for the remainder of the year. How did you track your finances last year?

Whatever methods you used, did those methods work? Were you able to accomplish all of your sales goals that you set? Do you expect your business to grow this year? Do you expect to hire more people this year? These are all serious questions that needs answers. Take these questions into consideration when you are reviewing your business and financial plans.

We understand that constant time constraints can make it difficult to accomplish financial organizational tasks. However, we offer  multiple resources to serve as a guide as you seek to improve your business throughout this year. Feel free to contact us at any time.