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”
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.
With government-mandated shutdowns impacting countries all around the world, many businesses have been forced to embrace full-staff work-from-home models in order to keep the proverbial doors open. In turn, video conferencing tools have become indispensable, as daily meetings have moved from the boardroom to the living room. Small businesses looking for new video conferencing tools have a plethora of options available to them, both free and paid, and each offering specific strengths and suffering from specific weaknesses. Most offer the same core features, but some stand out over others both in their usability and their price points. The following is a quick summary of four of the leading applications. Continue reading “Is it Zoom or Nothing? Video Conferencing Options for Small Businesses”
In part one of this series, we discussed the basics of contactless payments, how they work, and the exceptional convenience that they offer to consumers and businesses alike. In part two, we’ll look at an emerging benefit that has come into focus in the wake of the global COVID-19 outbreak – improved public health. We’ll also discuss some of the key steps in transitioning to contactless payment solutions, and the factors you should look into when deciding if now is the right time for your business to make the switch.
Contactless payment has become a hot topic in the wake of the global pandemic. Across the United States and around the globe, merchants who have previously relied on cash-heavy sales and traditional card payments are now faced with the pressing need to upgrade their systems and bring their transaction processing into the 21st century. But many of those merchants don’t yet fully understand the contactless payment ecosystem, or the benefits that going contactless can offer to their businesses. In this article, we’ll shed some light on those topics by looking at the basics of contactless payments, the benefits they offer to merchants and consumers, the current trends in the industry, and the major factors merchants like you should consider when making the decision to switch.
The world is digital, and whether it’s an in-store purchase or an online order, consumers expect to be able to pay quickly and easily, and that means cards. Cash is almost obsolete at this point, meaning more and more merchants are looking for new ways to accept electronic payments with the lowest possible cost and highest possible convenience. It might be easy to turn to a company like PayPal out of sheer brand recognition, but if your business is looking to get started accepting credit cards, there’s a very good chance you’d be much better off with your own merchant account.
Refund fees are a reality of doing business. No matter how perfectly you hold up your end of a transaction, there will always be cases in which your buyers change their minds. As a merchant, it’s in your best interest to make that process as transparent and as straightforward for your buyers as possible, as a clear, frictionless refund policy is one of the keys to good customer service and to avoiding chargebacks. Theoretically, a return should essentially turn back the clock, making it as if a transaction never happened – the customer gets their money back, you get your merchandise back, and the payment processor refunds any fees paid by either side. But what if the payment processor refused to give you back your transaction fees so that every return – regardless of the reason – ended up costing you money?