As the size of your business grows, the demands your customers will place on you to provide an expert payment experience will also grow. There are a number of ways that your business’s credit card acceptance policy could change, from needing more terminals to needing a new place to accept the cards altogether! Consider the following three ways credit card acceptance can change as your business grows, and if they could be possibilities for you in the future.
More Terminals for More Customers
As your business grows, you’ll likely need more terminals to keep up with the amount of cards you’ll be processing. A small business that may have started out with only a mobile device like PAYD, may one day need to update to a countertop terminal for their first retail store. Or, a small brick-and-mortar operation that started with a single terminal, may need to add more variety in terms of number of devices or device types. Whichever the case may be, having the right set up of payment terminals for your business allows you to accept as many credit cards as you can at a time.
Advanced Payment Features
Not only will a growing business need to make sure their hardware numbers are correct, they’ll need to make sure these terminals have the right features within them. Having the right software and integrated features allow customers to pay how they want, the way they want, and in some cases, in the currency they want. Some of these features could include:
- Near field communication (NFC) enablement that allows customers to tap and pay through contactless cards or smart devices.
- Fraud prevention solutions that keep businesses protected from fraudulent credit card use at the terminal.
- Dynamic currency conversion, a solution that allows international cardholders to pay in over 90 currencies through the terminal.
New Payment Platforms
Business growth doesn’t always mean a larger retail store. For many businesses, growth can actually happen to a new type of store altogether, an ecommerce store!
Accepting credit cards online may sound daunting, but it’s actually a fairly straight forward process. We’ve written a few different articles outlining how online payments integration works, including How to Accept Credit Card Payments Online and Credit Card Acceptance in Canada: What You Need to Know. If you’re already a Moneris merchant, a sales representative can work with you to seamlessly integrate your online and in-store accounts to make the payments process simple.
Interested in learning more about some of the technologies mentioned in this article? If so, be sure to check out Payment Gateways 101: What They Are and How They Work and 3 Ways a New Terminal Can Improve Customer Service.