Five Ways Merchant Services Can Improve Your Restaurant’s Bottom line

The Small Business Guide To Merchant Services Providers

Stay ahead of the competition and develop a company website featuring not just your menu, but also the ability to order and pay online merchant services agent program. Crucial for restaurants offering delivery, an online ordering system will free up your restaurant’s phone lines so that your staff can focus on the orders going out as well as the customers dining in.

Be sure to find the right merchant service provider that offers a fast and secure connection with built-in fraud detection that will protect personal information. You can also personalize your site with customizable plug-ins and add-ons through many merchant services. Give your customers the ability to order online and you’ll be amazed at the results.

For a stable and ever-growing client base, incorporate gift and loyalty card programs into your business. Gift cards are a great way to introduce new customers to your establishment, and it’s often the case that a customer will spend more than the balance on their gift card. Many customers won’t redeem their card at all—and who doesn’t want free money?

Another useful option for your restaurant is to create a loyalty card program. Not only will this provide your company with customer information that is crucial in marketing, but it will also encourage customers to visit your store regularly by keeping your brand highly visible through fliers in the mail or cards in their wallets.

Offering coupons or a points system to reward frequent customers is a great way to grab attention and generate more business. Whether you decide on gift cards, loyalty cards, or both, you’ll increase the number of repeat customers as well as boost your company image.

Don’t let a check slow down your cash register. Look for products like the VeriFone CR 1000i Check Reader that will convert a customer’s check into an electronic document. This reduces the cost and time that goes into handling, processing, storing, and collecting checks.

This sleek and slim check reader will scan the image of every check, and then send that information to a separate modem that handles the large image files. Fast and easy, a check reader will keep your records up to date and improve any check handling system. If you’ve been looking for more ways to improve your restaurant’s bottom line, consider getting the very most out of your merchant services.

A merchant account is a special type of account for businesses that lets you process credit cards for payments. While most consumers take the use of credit and debit cards for granted, the processes involved are actually very complicated. Additionally, the application process alone for establishing a merchant account is rather lengthy and detailed.

If you’re new to merchant accounts and the different ways in which a business can charge credit cards, it’s a good idea to get the basics under your belt before applying for one. There are many different providers of merchant services available to business owners and many options to weigh before finally establishing your account as well. Take a few moments to learn the ins and outs of merchant accounts with this quick crash course.

Merchant Banks – This type of bank differs from normal investment banks in that their main operating objective is to turn profits by making investments of their own capital. They often provide loans for small businesses in addition to offering other banking services for businesses.

ISOs – Independent sales organizations are licensed third party brokers who exist specifically to handle credit card processing. These companies act as a middleman between businesses and banks, but come with a few very practical extras. ISOs typically offer an array of services dealing with credit card processing including customer service, equipment sales and leasing, settlement management and more.

Before establishing a contract between a merchant bank or ISO, it’s important that you do your homework. Legitimate ISOs should be able to prove sponsorship by and certification from an FDIC certified parent bank. Be sure your ISO has disclosed evidence of its official affiliation with a reputable and insured bank before signing any agreements.

There a three basic ways of processing credit cards. When you set up your merchant account, you can choose one or a combination of methods to best suit your business. Each method, however, comes with its own abilities, limitations and fees.

Retail merchant accounts offer the most familiar way of processing credit cards. They are best suited to businesses with a storefront or other physical point of sale, such as restaurants, grocery stores or hotels. This type of account requires obtaining a credit card terminal that reads and processes swiped credit cards nearly instantly via an internet connection. Terminals are usually offered for sale or lease by your ISO.

This type of merchant account comes with the cheapest fees of the three since it is considered the most secure. ISOs typically charge a processing fee of around 1. 79% of the total of each credit card transaction. Retail merchant accounts require that at least 80% of credit card transactions are processed with the card holder present.

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