If you have a small business where you accept payments directly from your customers, then you should learn about merchant processing systems. You may find that you should be using one for your business payment acceptance needs, especially if you work away from a physical location often. If you haven't been using one up until now, then you may be making things complicated for both yourself and your customers. You can learn about merchant processing systems in this article and find out how they can help your business. Read below for more information:
The basics of merchant processing systems
Merchant processing systems are also known as credit card processing systems. They allow you to accept payments via credit and debit cards. You may think these systems only work inside a physical location, such as a storefront. It is true that a merchant processing system does allow you to take card payments at the physical location of your business.
However, you can also accept card payments through a merchant processing system from just about anywhere, as long as you are set up to do so and have access to the Internet. Once you add card payments to your list of acceptable payment types, you may see your business grow substantially.
How you can take card payments on your smart device
Once you get set up with a merchant processing system, you will be provided with a card reader that attaches to your device and is given access to the software that accepts and processes the payments. By connecting the card reader to your device through the USB port, you can slide your customer's cards. The card reader will then pass on the card information to the software.
There will be a display screen on your device that your customers can use to sign their names or enter their PINs. Once your customer agrees to the charges and enters the required information, the payment will be processed. You can then email the receipt to your customer if you've taken their payment on the go. If you are near your printer, then you can print it for them.
The benefits of using a merchant processing system
Once you start using a merchant processing system, you will be able to accept payments from customers who don't carry cash and don't want to write a check or don't have checks. A merchant processing system can also include an option for a tip. This means you won't have to worry that accepting cards means you would have to forego the chance of being tipped, if you work in an industry where tipping is common. In fact, the system can even suggest a tip amount, and this can even increase your chances of getting larger tips in some cases. Having the ability to accept payments via cards from any location can also help to prevent the chances of you being robbed because you won't end up carrying large amounts of cash.
For more information, contact a merchant processing system service such as Integrity POS.