PAYNORTH

Most of us are aware that the economy is in rough shape and lots businesses are struggling or even closing the doors. So, you ask yourself what can I do to prevent my business from going under. And the answer here is not perfect, but it will help most businesses maximize sales and give its competition a reason to be worried.

Ask Yourself…

A). Does your business accept credit and debit cards?
B). Does your business accept checks?
C). Does your business offer gift cards?
D). Does your business accept ATM transactions?
E). Does your business offer any type of Prepaid programs?

If you said NO to anyone one of these payment acceptance services then you need to know more about them as they will increase sales for your business depending on its type. Take a look at each service individually and see in your own eyes how it will benefit your business.

Prepaid Processing

Prepaid programs help merchants off-set the credit card fees where you make profit on every transaction. Most of the time these programs are free to set-up and you never have to worry about inventory cost. Your business will be associated with some of the Top National Brands.

Benefits

• Generate profit on each transaction
• Association with national brands
• Eliminate inventory and its security risk
• Eliminate shrinkage and theft
• Eliminate distribution costs
• No out of inventory problems
• Immediate access to new products
• Attract new customers, maintain customer loyalty and increase business overall

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Gift Cards

Gift cards have become one of the most convenient and sought after items for consumers searching for the perfect gift. They are also great tools to increase customer loyalty and improve cash-flow, making them an ideal addition to your product offerings. Unlike traditional paper certificates, the balance on the card is automatically updated with each use, which eliminates the need to provide cash reimbursement for the remaining value of the card after a purchase. Gift cards can also be reloaded with additional value, making them an ideal tool to promote repeat shopping.

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Check Conversion

With check conversion you’ll be able to accept a check just like a credit card and like a credit card the funds are converted to your checking account. The check system images the check and allows the merchant to hand it back to the customer. Also like a credit card the merchant will know if the funds are available at the point of sale and even if it’s not after a day or so the check processing company will still pay the merchant on the transaction provided the guidelines are followed correctly each check processor has different sets of rules. The schedule of fees for this service is much like credit card processing.

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ATM Processing

ATM systems help merchants bring in customers that they normally wouldn’t and this opportunity gives the merchant a chance to make more sales. Yes, you make money per transaction, but the bigger picture should be that the merchant is getting more of its inventory sold and providing a beneficial service to customers.

Credit Card Processing

If you do not already accept credit and debit cards you are truly missing lots of customers. Almost any successful business owner will tell you that you are missing so many sales by not to accepting credit cards at your business. More and more people are carrying credit and debit cards, because it’s smart and if you lose your wallet you just replace a couple of cards and not your savings. People also tend to spend much more with a credit card as they have incentives. Credit and debit cards historically have proven to be at least 15 to 50% of your annual sales. Would you rather make 100% of absolutely nothing or 97 to 98% of something?

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Why wait to make a decision that’ll give your business extra sales. Most of these payment services are free to set-up and some merchant service providers even offer free hardware and software so what are you waiting for let’s put your business on the right tract in this economy. Say Yes to your customers!

Gift cards are beneficial to both the consumer and merchant for many reasons. A recent consumer survey conducted by BIGresearch in 2009, said that 52.2% (percent) of adults would like to receive a gift card this holiday season. Three years in row Gift Cards have been the most requested gift during the holidays.

Consumers are telling you exactly what they want and gift cards are clearly the best options for businesses to accept in 2009 – 2010.

Gift cards have become one of the most convenient and sought after items for consumers searching for the perfect gift. They are also great tools to increase customer loyalty and improve cash-flow, making them an ideal addition to your product offerings. Unlike traditional paper certificates, the balance on the card is automatically updated with each use, which eliminates the need to provide cash reimbursement for the remaining value of the card after a purchase. Gift cards can also be reloaded with additional value, making them an ideal tool to promote repeat shopping.

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Most merchant service providers offer some sort of Gift and Loyalty Card program so if your company currently accept credit cards contact your provider for more information. Typically gift cards cost merchants between $0.90 to $1.50 per card plus a design fee and some providers charge a set-up fee, it really depends on the order size.

Give your customers a gift that keeps on giving a gift card with your brands, it may be one of the smartest decisions your company makes this year!