Merchant Services – The Need Of Small Business
Small businesses are doing big these days. According to the report, the annual gross revenue grew by 19.2 per cent from Jan 2018 to Jan 2019 for small businesses. There are over 30.2 million small businesses in the U.S.A, and they are accountable for 99.7% of all businesses in the U.S.A. It is also observed that 82% of businesses that fail do so because of cash flow problems or lack of money. With Merchant Processing For Small Business, you can not only improve your cash flow but also get a quick loan if you are a U.S. citizen.
What Merchant Services Do I Need For My Small Business?
A small business needs a merchant service to accept credit /debit card payments online or in his retail shop. A merchant payment processing solution helps the merchant to improve the cash flow and accept payments seamlessly. Every small business may require a different payment solution depending on the need and business type. Not every payment accepting method is suitable for every business, like some businesses require a virtual terminal who deals and accepts payments from their customer over the phone. And some may require a credit card terminal to accept payments in their retail shop. And some may even require N.F.C. enabled terminals to accept payments just by holding the card near the terminal. We help business with most of the payment processing solutions, and we even support high-risk merchants.
- Credit card Terminal For Small Business: This is the most demanded payment processing solution. A card terminal helps the merchant to accept credit/debit card payments. We provide EMV certified terminals to accept chip-based cards, and our solution also comes with NFC enabled.
- POS System: A POS system is also one of the basic needs of even every type of business because it not only helps you to accept credit/ debit card payments but it comes with a lot more functionality to streamline your business activities. It can manage your employees, invoicing capabilities, report analytics and lot more
- Credit card Processing For Small Business: Credit card processing solution can help you to process the ‘card-present’ and ‘card-not-present’ transaction. A merchant can also accept credit card payments online through the website integrated with payment gateway solution. If your business is not flagged as high risk, then you can easily go through the onboarding process with a credit card processing solution and a virtual terminal on demand.
Who Are The Merchant Service Providers And Payment Service Provider?
- The merchant Service provider, also known as a payment processor is considered as a financial institution who provides you with a full-fledged merchant account on your name. There is no intermediary party involved. Businesses have full control over their merchant account. If you are also looking for merchant processing for small business, then you should be aware that a full-fledged merchant account on your name involves risk estimation on your business. Based on the risk, you will then go through the onboarding process, and it usually takes some time.
- The payment service provider(PSP) is also known as payment facilitators or payment aggregators and even by the name third-party processors. A PSP allows the merchant to accept credit/debit card payments from their customer without having to set up a merchant account. It means a business is taking payment in PSP’s merchant account and hence PSP acts as a payment facilitator. A PSP helps several merchants with several sub-merchant accounts under its own umbrella merchant account. A payment service provider undertakes all the risk liabilities of all the merchants under his merchant account. The onboarding process is simple and smooth and you may start accepting payments within 24 hrs. But as the businesses don’t have their own merchant account, the PSP has the power to terminate the account of any merchant under his umbrella merchant account if he finds risk in your business on evaluating your processing history. If you are a small merchant looking for an online payment processing solution, you should be aware of both the terminology and decide which one is best for you. We help businesses with both a full-fledged merchant service and an aggregation solution.
Why Payment Solution For Small Businesses?
- Improves sales: Online payment solution improves your sale and is convenient for customers. They love to pay via credit/debit card. You can not only accept credit/debit card payments, but we also have the solution to accept eCheck and ACH.
- Safe And Secure: Our solutions are PCI-Compliant and follow PCI-DSS standards. All the transactions are safe and secure.
- Mobile Payments: You can also be able to accept mobile payments from wallets, and you can even process cards right from your mobile through the mobile card reader and an application which you will find easily on google play store or apple store.
- Customer Support: Support is always there to help you and your customers.
Why Most Of The Small Business Fails? How Can Merchant Services Help?
- Poor Cash Flow: It has been observed that 82% of the business fails because of poor cash flow. The cash flow depends upon the industry or the payment processing solution. Huge chargebacks can also be havoc on your business profitability and cash flow. Quadrapay helps not only with the robust payment solution but also chargebacks alerts and notification, which improves your cash flow and helps business to maintain a good credit report.
- Insufficient Fund: Funding is also a major problem in business because small businesses find it difficult to raise quick funds to excel their business. We also have a funding solution for small businesses. If you are a merchant in the U.S.A. and have a 500+ credit score and must be in businesses over six or more months, then you can apply for Merchant cash Advance. A small business can get a loan up to $400,000. So what are you looking for? If you are qualifying the prerequisite, then apply today to excel your business.
- Inappropriate Business Plan: Inappropriate business plan and poor marketing strategy lead to the failure of a business. We can’t help you with a business plan, but we help merchants with our Free SEO Service, which improves your brand reputation and sales. Our SEO services are done by experts and for only those businesses who take merchant services from our recommended processors.
“A Big Business Starts Small” and to be big and successful; you have to have served your customers with more convenience. Apply today for merchant processing for your small business with Quadrapay and enjoy the limitless services.
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