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Many payment processors leave businesses with expensive transaction fees, limited options, and confusing processes. Here, we give the 5 most common issues small businesses face regarding payment processing.
Small business owners are often on top of all business operations and deserve to enjoy their hard-earned money once in a while. Collecting the money, however, is a different (and sometimes stressful) story. Many payment processors leave businesses with expensive transaction fees, limited options, and confusing processes. Here, we give the 5 most common issues small businesses face regarding payment processing.
Many payment processors impose expensive monthly and transaction fees for small businesses. What’s worse is that they give you a limited volume cap for transactions. This limit both the revenue potential and profit of a growing small business.
In a competitive business landscape today, customers must feel that they can transact in a way that is convenient for them or you risk losing them for good. That is why most growing businesses today
have both in-store and online presence. Unfortunately, some businesses lack an integrated solution to all their payment methods and end up talking to different suppliers. This consumes too much of their time that could have been spent improving other important aspects of the business such as leads conversion or product optimization.
Customers demanding a refund is inevitable in any business. There will be customers who would forget their purchases when the credit card billing comes and there will be some who might not exactly get what they were expecting from the product. Whatever reason they might have, you need an advocate to manage and win them for you. Also having a good customer service channel and clear product descriptors on credit card statements are surefire ways to minimize them.
A business owner prefers to look at ways to sustain or grow the business rather than spend hours troubleshooting transaction issues such as disputes or fraudulent ones. Dealing with these transactions day in and day out may be limiting you from unlocking the growth potential of your business.
In 2019, 27% of online transactions turned out to be fraudulent. As payment solutions evolve, so do the strategies of hackers and thieves. Thus, any business online or offline, needs a reliable and secure payment processor. It’s always essential to check whether your payment processor has updated PCI-DSS certifications and fraud management filters.
Having a smooth and easy payment processing system is possible with your merchant account. It guarantees a flexible payment plan to suit your business needs and an integrated solution for all your revenue streams. Read on to find out how you can solve your payment processing woes and start maximizing your growth potential.
Say goodbye to worrying about your volume cap or paying fees that are pretty huge for the size of your business. With our merchant accounts, you get a flexible payment plan to suit your growing business needs. You can even renegotiate your rates at a later time in case your sales are growing at a consistent rate. You can also enjoy unlimited growth potential with merchant accounts that don’t have volume caps!
No need to waste time talking to different payment processors. You can maximize your time by talking to a one- stop-shop payment processing solution. With PaymentsChamp, you can choose from the following payment options for your customers:
We also provide local and international payment methods so you can accept payments anywhere in the world.
You can now rest easy knowing that your account manager is handling your chargebacks and helping you win them. In case transaction issues come up, you can get support from a financial expert as well.
Ensure that your personal and customer data are secure with merchant accounts. They are equipped with PCI- DSS compliance certifications and fraud management filters to give you peace of mind.
Merchant accounts give you a great platform to maximize revenue streams and simplify your payment processes at the same time. If you want to find out more on how our merchant accounts work, just book an introductory call with us here at PaymentsChamp. We would be glad to help you get your merchant account up and running by helping you secure everything you need.
Our 15 years of experience with merchant accounts will be invaluable when we give you advice on how to create a successful application and a fee plan that suits your business needs. After it gets approved, we will help you manage transaction risks to keep your business sustainable.
We will also give you emerging trends for your business model and regularly review your financial health for you. PaymentsChamp will be with you every step of the way to ensure a healthy merchant account.
Get your merchant account today and make the most out of your hard- earned money. You deserve it »
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