Apple Pay is Apple’s proprietary electronic payment solution, working hand-in-hand with Apple Wallet, the company’s card storage platform. Its userbase is growing extremely rapidly, and the system is well on its way to handling one out of every ten card payments by 2025. To use Apple Pay, users program their debit and credit card information directly into Apple Wallet, and then make online or in-store purchases by tapping their devices or clicking a button, and scanning either their thumb or face with Touch ID or Face ID. The benefits of accepting Apple Pay are myriad, and with so many Apple users jumping on board, it’s quickly becoming a must-have system for merchants looking to give customers the flexible payment options they demand. Continue reading “Apple Pay for Small Businesses – Getting Started with a Must-Have Payment Option for 2021 and Beyond”
There are few things more satisfying than checking your numbers after a strong day of sales. But what is far less satisfying is having to wait days – often half a week or more – to enjoy the fruits of those sales due to annoyingly long hold periods imposed by your merchant services provider. That’s especially true if you don’t understand why it’s happening. The good news is, with a little bit of knowledge and the right business practices, the standard hold period – the delay between making a sale and actually getting your money – can be reduced or even eliminated.
Merchant services providers have a huge role to play in the success of all companies accepting electronic payments, both online and in-store. But, whether you choose to partner with a third-party processor like PayPal or to open up your own personal merchant account through a company like BAMS, it’s important that you understand exactly what your payment processing partners do for your business, what your fees pay for, and how you can ensure you get the best bang for that buck. Continue reading “What Merchant Services Providers Do: How Companies Like BAMS Help Businesses Like Yours Succeed”
Toast is a software company that provides restaurants with point-of-sale systems, as well as a host of other products covering ordering, management, and payment solutions. Toast’s flagship product is its Android-based cloud POS, which offers restauranteurs an easy-to-use, efficient software suite and simple, modular hardware. The success of that POS drove Toast’s value to over $1 billion in 2018, and at its peak, the company employed over 2,000 people. But despite all that success, the platform has some significant drawbacks which have only been compounded by the tough economic times the restaurant industry has faced in the wake of the COVID-19 pandemic. Weighing those pros and cons is key to determining if Toast is the right POS for your restaurant, and we’ll take a look at both sides of the issue below.
Learn how to lower your credit card processing fees and save money. Continue reading “Webinar Replay: How to STOP Losing Money on Every Sale WITHOUT Spending a Penny to Make it Happen”
Next-day funding is one of the most beneficial services a payment processing partner can offer to your business. The standard funding hold imposed by most merchant services providers can easily eat up two to three days between the time you make a sale and the time that money lands in your bank account. That’s valuable time, and by eliminating it, payment processors that offer next-day funding – like BAMS – make it clear that your company’s financial health is their top priority, even if it means assuming a little more risk on their end. In addition to the reaffirmation of your processing partner’s commitment to your company’s success, next-day funding also offers a number of significant benefits to your business – both tangible and intangible. The following represent just three of those benefits and make it clear why the availability of next-day funding should be an important box to check off whenever you shop for a new merchant services provider.
Successful retailers know two things: you have to give customers as many payment options as possible, and you have to ensure they can make those payments quickly. That ensures happy customers in brick and mortar environments and ensures minimized cart abandonment online. All merchants understand the importance of accepting debit and major credit cards, but not all merchants know how much they stand to gain from adopting one of the newer payment solutions on the market – Apple Pay. Continue reading “Why Your Store Should Be Accepting Apple Pay – The Top 5 Reasons Apple Pay is a Must for Merchants in 2020”
Access to cash might be the most important financial factor in any merchant’s long-term operational success. Yet, many merchants don’t consider how their selection of a payment processing partner will impact that all-important liquidity. The delay between the moment a sale is made and the moment that money becomes accessible in the bank – also known as the funding period – doesn’t always seem as pressing as things like transaction fees and hardware costs, but it plays a huge roll in everything from meeting obligations to sleeping well at night. Luckily, some payment processors offer shorter funding periods than others, and merchants with the right processing partners can gain access to their hard-earned money in 12 hours or less through a feature known as next-day funding.
There are a number of reasons Stripe customers might want to export their historic business data, not the least of which is a switch to a new payment processor. And while accessing and exporting that information is a straightforward process, some users are unaware of what they can access and where they have to go in their account dashboards to get it. The following is a quick crash course in the simple, easy steps necessary to generate CSV (and QuickBooks) reporting for export and later use with other applications or new payment processors.
If you’re a merchant hosting an online store with Volusion, you’ve probably heard by now that the company has hit a rough patch. In late July 2020, Volusion quietly filed for bankruptcy. According to the company, the bankruptcy filing is meant to address an unstable capital structure that requires reorganization. But, regardless of why the company filed for Chapter 11, the question on every Volusion merchant’s mind is, what does it mean for business? The good news is that it might not mean anything, the bad news is that, at this point, it’s impossible to really be sure one way or another.