Small Business Owners: What Smartphone Credit Card Processing Means for the Bottom Line

Small Business Owners: What Smartphone Credit Card Processing Means for the Bottom Line

Small business owners know that it takes a lot to compete with similar businesses. Anything that provides an edge and makes doing business easier for a customer is worth checking into like Smart Phone Credit Card Processing. That’s one reason more business owners are adding smartphone credit card processing to the roster of payment options they offer. Here are some of the ways that offering this method will benefit the company and encourage growth.

Not Tethered to a Brick and Mortar Establishment

Even though the small business owner does operate a shop, there are times when it would be nice to have an electronic payment process that was based on the store. Think of how convenient it would be for a local bookstore owner to set up an exhibit at a local book festival and offer a nice selection of novels and other works on the spot. Since it would take quite a bit to set up the standard card processing equipment in such a venue, that leaves cash and checks as the only payment options.

Even though the small business owner does operate a shop, there are times when it would be nice to have an electronic payment process that was based on the store. Think of how convenient it would be for a local bookstore owner to set up an exhibit at a local book festival and offer a nice selection of novels and other works on the spot. Since it would take quite a bit to set up the standard card processing equipment in such a venue, that leaves cash and checks as the only payment options.

Smart Phone Credit Card Processing

Processing Fees

Another plus for the business owner is the competitive cost of receiving those electronic payments via smartphone setup. It’s not unusual for companies that offer the equipment for this type of credit card processing to charge rates per transaction that compare favorably with those assessed on transactions made using more traditional equipment. In fact, some merchants have abandoned the older style of processing equipment and now rely solely on apps and equipment attached to a smartphone for all of their debit and credit card transactions. Over the course of a year, the savings in fees alone can come to a substantial amount.

How To Use Smart Phone Credit Card Processing

Easy Report Generation

Many people wonder if they have to give up some of the features found with traditional electronic processing if they go with smartphone credit card processing. The answer is no. For example, many vendors of the older equipment make it easy to generate a report of the day’s receipts. That comes in handy in terms of knowing what sort of money should be in the business operating account the following day. Even though the smartphone approach may be driven by an application, it’s still possible to access and download a financial report. It can even be stored on the phone or forwarded to the main email address for the business.

Many people wonder if they have to give up some of the features found with traditional electronic processing if they go with smartphone credit card processing. The answer is no. For example, many vendors of the older equipment make it easy to generate a report of the day’s receipts. That comes in handy in terms of knowing what sort of money should be in the business operating account the following day. Even though the smartphone approach may be driven by an application, it’s still possible to access and download a financial report. It can even be stored on the phone or forwarded to the main email address for the business.

If the idea of trying this approach holds some appeal, talk with a supplier today. After seeing a demonstration, the business owner will likely want to try it out for at least a month and see how things go.