5 Reasons Why Every Business Needs an E-Commerce Processing Platform

E-commerce processing concept on a digital screen in human hand

Brick and Mortar stores are taking a hit all because of e-commerce. Just look at Toys “R” Us and Babies “R” Us. These two were giants in their respective fields for over 60 years. Kmart which began in 1899 has liquidated and closed as well.

The question is, if they had instituted a healthy e-commerce processing program, could they have sustained a longer run and still be in business? The answer is probably yes. They could have streamlined their overhead, lowered prices and been competitive in their respective fields. People say it is Amazon’s fault these stores collapsed. Amazon just provided, (in some cases), better prices and the ease of purchasing items from home.

E-commerce is a viable entity and it’s here to stay. Every business that sells anything should have an e-commerce platform.

Why People Love to Shop Online

  • Shop from home or office
  • Avoid crowds or going to the mall
  • Convenience, done with just a few button clicks
  • Better Variety
  • Better Prices

People are ridiculously busy, they mean to get to the store to purchase mom’s birthday gift, but finding the time is not easy. The kids must be toted to practice and games. Perhaps it’s business meetings, family and friends get-togethers, or working late and being too exhausted to stop by the store. Let’s try this, the store is closed, or it’s late and that parking lot can be sketchy at night. Having an e-commerce platform set up by BAMS can keep loyal customers coming back without having to set foot in the store. E-commerce can attract new customers who would never have visited your location. They may live 50, 500 or 5000 miles away.

Here is a likely scenario; a child wants a pair of cowboy boots. The parent has no idea about such things, they live in New England where cowboys are not the norm. Said parent googles cowboy boots for sale, checks out a couple sites, decides what to spend, and orders them from Texas. The child is happy, the parent is happy, the person who does not know they have reason to be unhappy is the Western Wear business owner in town without an e-commerce site.

Contact BAMS to discuss setting up your e-commerce processing platform to help your business grow.

3 Ways Waiting For Your Processor Is Slowing You Down

dollar sign with an arrow shadow. Next day processor funding concept

Money is the grease that keeps your business moving. Products, employees – keeping all those gears spinning is how your business gains and keeps its forward momentum. For cash transactions, making sure you get paid fast is easy, but what about your credit card processor?

Many merchant service providers can take days to turn your transactions around and get them into your bank. This can cause extra friction that may be slowing you down. Here are 3 ways hanging on to a slow processor is throwing a wrench in your business.

Inventory

The way you purchase products and materials for your business can save you money. Many vendors offer volume pricing or discounts for quick payments. If your card processor is holding your funds it can be difficult to take advantage of these offers. If you are missing out on these discounts your processor is costing you money.

Accounting

If you are waiting for money to come in so is your accountant. Slow transfers make for slow bookkeeping. That means waiting to produce important documents for banks & creditors. It also means your inventory turnover rate is longer, which can make you look like a bad investment. If your processor can’t keep up can you afford to wait for them?

Money availability

When you are waiting to be paid, so is everyone else. This can be solved by working with a processor who has next day funding. Even if you are not struggling now many businesses are one emergency purchase away from potentially being unable to make important payments on time. This is something no business can afford – your vendors and your employees expect to be paid on time, so should you.

All merchant services providers are not created equal. Many big-name processors can take more than half a week to turn over your funds. At BAMS, keeping your business moving is how we keep ours moving too. Your time is valuable, that is why we offer next day processing. Contact us now and lose your old processor, before everything grinds to a halt.

Why It’s Important for Your Payment Processor to Offer a Free Authorize.net Gateway

Authorize.net

In order to accept online payments, a business has to have a special gateway to connect to the processing system. One of the most-used and trouble-free solutions is to use Authorize.net, which is the leading provider of online payment gateways. Authorize.net can also process transactions that are entered directly into its system, so it’s easy for you to sell products and services from a remote, but physical location such as a fair. Getting setup with them, however, requires going through a payment processing company – they do not deal directly with end-users.

Some processors charge high set-up fees to add Authorize.net to your account because they know that your only other option is to use a less well-known, and possibly unreliable, solution. This adds expense to your set-up cost that, as it turns out, is entirely avoidable.

Avoiding the set-up cost is simple. All you need to do is choose a provider that offers a free authorize.net gateway as part of its package. Then, you not only get free access to Authorize.net, but the account creation is done for you. You’ll just need to take care of the technical details of connecting your site, something your merchant services agent can likely help you do. With many shopping cart software options, all you need to do for this is enter your account number into the relevant fields.

BAMS, a leading payment processor, does more than just give you the free gateway. They provide physical payment solutions as well as virtual ones, and they examine your application to find cost savings for you whenever possible. This makes it easy for you to get all of your payment needs handled under one roof at the lowest possible cost. To learn more, just contact us and we’ll explain all that you need to know.