How Can a Merchant Avoid Any Mistakes by Becoming an American Express Merchant?

Becoming an American Express merchant is now easier than ever thanks to the new Amex OptBlue program. In past years, if your customer had an American Express card, but you didn’t have a merchant account with them, they couldn’t do business with you. All that changed because the people behind American Express decided to become closer to their clients, both individuals and corporate. But although enrolling in the program isn’t necessarily hard, it might take some serious research first in order to see if you fit in.

How Hard Is It to Become an American Express Merchant?

For years American Express has been somewhat of an exclusive club. That is because American Express is both card issuer and “bank” for anybody that has an account with them. This is because they understood that having another party involved meant an increased risk on their clients’ data. So, by eliminating the middle man, they could interact directly with the client and offer him any service he would need. But that meant higher fees for any business that accepted American Express credit cards. That was why merchants avoided opening accounts with them for decades. But that might have been a very big mistake on their behalf. By avoiding the American Express company, merchants have been practically turning down potential paying customers for years. That was just a very business model.

Becoming an American Express merchant is fairly straight forward. Just as you would do with any other merchant bank, you just have to see what they have to offer and pick whatever you like out of the list. The benefits are quite something. Becoming an American Express merchant means that you can accept payment made with American Express issued credit cards. That means that you can become more attractive as a business to potential customers, who usually needed to take their business elsewhere. Customers nowadays enjoy having multiple options when it comes to payments, and American Express card holders have been some of the most neglected out there. because of the fees American Express charges for transactions, not many merchants have been working with them. But that only means that the less merchants there are working with them, the more card holders there are to share among those who do work with them.

Another great thing about becoming an American Express merchant is that you can now associate your name with a real American institution. With a tradition that spans over 100 years, the American Express company has been at the forefront of payment method innovation. That is why any American Express merchant can be proud to say that they are part of a great company with an even greater history. From stagecoaches to credit cards, American Express is a reputable force in the world, leading as the largest payment network worldwide. American Express has been in charge of transporting and taking care of peoples’ valuables for over a century, so you can rest assured that the security standards they employ are some of the highest and that their protocols are kept up to date by the best in the business. That is why becoming an American Express merchant is one of the best decisions any merchant can make. And, because American Express is the global leader when it comes to payment networks, any merchant that chooses to work with them has practically a worldwide reach. That means that new possibilities and markets can become available to them by simply choosing to work with one of the greatest American financial institutions of all times.

What Can Amex Optblue Do for A Small Business?

The American Express company has always been at the forefront of innovation and business building. Whether it was about helping small businesses grow, and giving them the tools necessary to do so, or about supporting small, independent shops in small communities, the American Express company has always sought to support its customers by being close to them and helping them any way it could. That is the case with Amex OptBlue. Amex OptBlue is the latest in a long line of services the company has developed in order to help business owners grow and attract more customers.

The way Amex OptBlue works is by doing what Visa and MasterCard have done. The program aims to make payments with American Express cards even for merchants that do not work with American Express. The point is to offer American Express card holder all the possibilities that other card holders have already. That means making Amex OptBlue as attractive to merchants as possible. That was done by creating a new standardized fees and charges table that was closer to what other card issuers were using. Although a little late to the party, Amex OptBlue is one of the most revolutionary programs on the market today. It has been able to make small businesses grow almost overnight by offering potential clients new business partners.

The way that a merchant can use Amex OptBlue is by going on their site and following their instructions. The steps they have to take aren’t really difficult. The merchant is asked to provide some information regarding his business. Things like transaction volume, main operating means, projected growth and other details. Then, the merchant has to provide some personal information such as bank account number, address and debt history. Once this information is provided, the company analyses it and send the merchant an offer. If the merchant is OK with the offer, he simply has to give his accord and he is ready for business. By using the OptBlue program you can increase your visibility and even use it as a marketing tool in order to promote your business. Becoming part of the American Express family is no small feat, and your potential clients will be thrilled to learn that they have a new way of doing business with you.

Who Needs Mobile Merchant Services and Why?

Building a business can sometimes be hard. Especially if you don’t really know where to begin. For instance, it may not be enough, if you are opening a restaurant, to just Google “best merchant services for restaurants” and choose the first result that pops up. Such a decision should be made after careful consideration and some serious research. Also, choosing your mobile merchant services provider should be a very carefully thought out decision. This is why business owners, especially new ones, should always look for help when they need to make a decision. Luckily there are a few companies out there that can help them make up their minds and even outline their steps.

How to Choose the Best Merchant Services for Restaurants?

Opening and running a restaurant takes a lot of ambition and research in order to really give the customers something that they want and ensure that you provide them with a pleasant experience. Sure, the food, the staff and the ambience makes a restaurant a crowd favorite or not, but for the owner or manager of a restaurant, there’s more to it than that. He needs something to help him run the business so he can focus on promoting it and on attracting new customers. Things can’t be done like in the old days, using simple pen and paper and spending countless hours poring over spreadsheets and doing endless calculations. These days there are new technologies needed in order to make a restaurant work, and choosing the right ones may prove sometimes difficult.

There are many companies out there offering various services to restaurant owners and managers. Some of them are quite useful while others may seem a bit exaggerated. This is why finding the best merchant services for restaurants may be a bit complicated to find. Firstly, any good restauranteur must understand that not all restaurants are created equally. And so, not all have the same definition for the “best merchant services for restaurants”. It firstly depends on the size of the restaurant. Dealing with a single location restaurant is quite different from having to handle multiple locations. The first thing that differs is where the food is prepared and where are the stocks kept. Using a centralized location, although it may seem more economical, may prove harder to handle; while having several locations may pose a serious security risk, but it would help with accessibility.

Another thing to think about when looking for the best merchant services for restaurants is the way the food is served. Most restaurants offer sitting areas where the food can be ordered and eaten, while others offer only drive-through or delivery services. This is why finding the best merchant services for restaurants can prove difficult to choose. Although all restaurants basically do the same thing, the fact that they do it differently poses a serious problem when it comes to finding the best merchant services for restaurants, for a specific type of restaurant. This is why the best thing any restauranteur can do is a lot of research and planning. He should rush into anything and instead take his time and think about the choice he is about to make. There are a lot of companies that advertise the fact that they offer the best merchant services for restaurants, but that doesn’t mean that they are all telling the truth when it comes to your restaurant.

Who Needs Mobile Merchant Services and Why?

One of the biggest innovations when it comes to merchant services is the creation of mobile merchant services. They enable merchants to interact with customers using mobile terminals. This means that a customer can now pay for his things or services rendered by using state of the art technology such as smartphones and even smart rings. Using mobile merchant services helps the merchant provide alternative ways of payment for its clients, making them more accessible and helping them improve their image. This in turn helps gather more clients and so the cycle goes on and the business can evolve and expand. Also, this is a great way of making sure that the customers’ data is secure. Handling a credit card can be sometimes risky. The card can get stolen or demagnetized. By using this technology cardholder information is kept safe and data leeks are prevented.

Implementing mobile merchant services is easy for most businesses. All a merchant has to do is contact one of the numerous companies out there that deals with this technology. There are a lot of them out there, so merchants should be careful when they have to choose the right one. the best way to choose the right mobile merchant services provider is to research what the other merchants are using and where are they getting it from. This can give you a good idea about what’s out there and what are your options. Also, there are a lot of sites and blogs about these types of services, and reading them can really help you make up your mind about which of them you need and where to get them from. All a merchant has to do is not rush into things. He should always take his time and research each aspect he isn’t clear on, in order to make his decision as informed as possible.

Nowadays technology is the way business is done all around the world, and implementing mobile merchant services for your business is probably the best thing to do. In order to remain relevant in a fast paced global economy one has to always adapt to the new and make sure to stay in touch with the latest trends. People like having options, and this is what mobile merchant services do. They provide people with the option of using alternative ways of payment. The future may bring even more changes to the ways people choose to make payments, but in order for them to happen, merchants have to firstly understand that customers will always be attracted to useful technology and innovations.

Why Does Your Company Need Level 3 Processing and Defense Against Chargebacks?

How Does a Proper Chargeback Defense Looks Like?

There are many benefits that a reliable payment processor can provide to your company. And 2 of the most important ones are level 3 processing and chargeback defense. Many companies encounter big problems caused by a high number of chargebacks. And the problems will not stop until they find a method to increase their defense. But what is the best method to do that? Well, you can find a processor and make sure that it provides the methods mentioned below.

• Instant notifications. The most important part of any dispute that may arise from a chargeback or fraud attempt is to be notified instantly. If the processor does not have this ability, then you should look for another one. Keep in mind that the slower you are notified, the less time you have to manage the disputes. And you may lose a larger percentage of them. • Online management. The second feature that a proper chargeback defense needs to have is online management. The payment processing company must prepare an online place where you can provide all the documents needed for the disputes. Using faxes and calls is too slow, and if you encounter a period with a larger number of chargebacks, then your team may not be able to manage them all. • Fraud protection. The payment processing company must also be able to stop the chargebacks in their tracks until the disputes are finalized. This will avoid the possibility of fraud. You will only need to deal with chargebacks that may have or not good reasons behind them. This feature alone will be able to save your company a lot of money. But there are other protection methods as well. • Cardholder authentication tools. These types of tools will make it much harder for anyone to use the credit cards of other persons. And this means that there will be much fewer chargebacks for this type of reason. Your online business will not be a place where stolen cards can be used. And this will massively reduce the number of chargebacks that you will have to deal with. • Chargeback assurance. The last feature that will complete the defense of your company is assurance. There are specialized companies that will provide you assurance for every transaction that is approved by them. So, even if you lose a chargeback for that transaction, you will not lose any money at all.

Benefits That You Can Expect from a Proper Chargeback Defense!

As you can see, many features can increase the chargeback defense of your company. But is it worth it? Are there enough benefits for doing this? Well, there are many benefits that your company will get from increasing its defense. And it will also benefit from level 3 processing transactions. But 3 of the benefits are much more important than the rest. They should be enough to convince you how important it is to find a reliable processor that provides this type of feature.

• Eliminate the losses caused by chargebacks. Chargebacks can have many causes. They may occur because a card was stolen and used without the agreement of the cardholder. Or, they may be a fraud attempt. These 2 cases are the most common ones. And a proper defense will eliminate all of them for you. You will no longer have to spend time, effort, and money to deal with them. So, the losses that they cause will also be eliminated. • Increase the reputation of your company. A strong defense can also be used for marketing purposes. The fact that your payment processing methods, such as level 3 processing transactions, are secured will encourage many of your potential clients to choose your company instead of your competitors. A good reputation can bring massive benefits to your company in the long run. So, you should not lose this opportunity to brand your company. • Increase the revenue and profits of your company. As a result of the benefits mentioned above, the costs of your company will be reduced. While more and more potential clients will be convinced to buy your products and services. So, the revenue and the profits of your company will increase. And you can use them to increase the growth rate of your company even more.

How Can Level 3 Processing Help Your Company!

Credit card processing can be separated on multiple levels. And level 3 processing can be used for corporate cards. And the main benefit of doing this is the reduced fee that your company will pay. So, if your clients are other companies or institutions, then you can make use of this method to reduce the costs of your company. But there is a slight problem with this method. If you do not have specialized software that can automate the process for you, then you will have to do it manually. But doing that is very complicated and requires a lot of time.

The best alternative that you can use to make use of this opportunity is to find a reliable payment processing company that provides a feature that will automate the process. Do not ignore this opportunity because the amount of money that you can save is significant. The fees that you will have to pay are reduced up to 50%. For example, if the total of the transactions is $100.000, then the fees for the normal processing method will be $2.950. But the fee for the level 3 processing transaction is only $1.900. This means that your company will be able to save more than $1.000. You will be able to hire one more employee with the money saved. And doing that will increase the revenue and the profits of your company even more.

But if you want to benefit from both a strong chargeback defense and processing methods for corporations, then you need to find a reliable processor. And to do that, you will need to do some research on the internet. And try your best to find an alternative that can cover all the needs of your company. But you should also test the services of the company before you start a long-term collaboration.

Can Your Retail Business Use Level 3 Processing?

If Most of Your Clients Are Corporates, Then You Should Consider a Specialized Retail POS!

The level 3 processing method can be used by companies in the b2b field. So, even if you have a retail business, but if most or all your clients are other companies, then you should search for a payment processing company that helps you use this type of processing method. The main benefit that you will get is a reduction in the transaction costs that you will have to pay. Also, a specialized retail POS will provide you extra benefits, like next-day founding. But how important are these benefits?

The first thing that you need to know is the difference between the transaction costs of level 1 and level 3 processing methods. If you find one of the bests payment processing companies, then you can save up to 1% per transaction. For some companies, this amount is insignificant, but for others, it means a lot of money. Everything depends on the sales volume of your company. If your sales volume is under 10.000$/month, then a 100$ reduction may seem too little. But you sell more than 100.000$/month, then 1000$ may allow you to hire one more person, which will produce even more money for the company. And this is a compounding benefit. So, you can only imagine the benefits that you will get in the long term.

The second benefit that you can expect from a specialized retail POS service is the “next day founding”. This means that all money from the sales that you make in a day will be in your account by the next day. If you want to understand why this is a great benefit, then you should know that most credit card processing alternatives require you to wait for 3 to 5 days until the money will be sent to your account. But you may need the money in that interval. And you will be forced to complicate your company's financial status. Meaning that you would need to use methods like credit lines. And although this type of solution will not increase the costs of your company, it will waste more of your time. On the other hand, you can keep everything streamlines if the founding period is only 1 day.

Besides the Retail POS, a Payment Processor Must Provide You with Integrations That You Need!

A reliable payment processing company will not stop the features of benefits that it provides to the retail POS or the level 3 processing method. It will also provide you with other features. Keep in mind that every company is different. So, not all of them may need the same type of service. But the top payment processor uses integrations as the best solution. So, you will be able to choose and use just the features that your company needs the most. There are 3 parts that any company can improve through the use of this method.

• Marketing integrations. Retail businesses must focus a lot on their marketing efforts if they want to have success. So, the ability to use integrations will help you increase both the quality and quantity of your marketing. And this can raise your company to the next level in an extremely short amount of time. Yet again, there are many different types of integrations, and you should find the partner that offers the types that your company needs the most. For example, you may need an integration that helps you track the activity on your company’s website. • Increased sales volume. Another type of integration may help you increase the sales volume of your company. There are many sales methods, and you can discover which ones are the best through the use of these integrations. In the end, the return for your investment will be returned from a single feature. And you may even make a profit from this feature alone. And together with the rest of the benefits, it should be impossible for you to pass this opportunity. So, you need to make sure to take this process seriously and find the best possible partner. • Customer service. And the last part of a company that is very important for a retail business is customer service. Why? Because you need to make sure that all your clients are very satisfied and come back to you if they need the same type of products again. It is easier for your clients to go to your competitors than it is for service-based companies. So, you need to make sure that the level of your customer service is top-notch.

You Can Easily See the Benefits from the Level 3 Processing Method Through the Reporting Feature!

Another essential feature that a payment processor must offer is reporting and analytics. And you will also be able to see the results of the level 3 processing method in detail. There are 2 main benefits that you can expect from this feature:

• Increase the growth rate of the company. The more money is saved, the more you can reinvest in the company and increase its growth rate. So, reporting and analytics features that will help you find out the best methods that you can use to save more money are essential. And together with methods like level 3 payment processing will ensure the fastest growth rate possible. • Make a better decision with the reports’ information. But the most important function of the reporting and analytics features is the ability to gather information about your company. Why? Because this will allow you to make the best possible decisions for the future of your company. Any company will encounter moments where a wrong or right decision can mean the end or the rise of the company. And most of the time, the deciding factor is the amount and quality of the information that the owner has. For this reason, you should value and expect high quality- reporting features.

The Advantages of Having a Merchant Account

More and more businesses are taking advantage of what the internet offers, great access to more target markets and the opportunity to increase revenue. Going online is not that easy actually, especially if you want to do business the right way and gain the trust of consumers. How about payment methods? What types do you plan to accept? All these issues are related to the merchant account and if you don’t know what it is, you will soon find out. Based on how many people prefer online ordering and payment methods, it is time to embrace credit card processing.

What Is a Merchant Account

The merchant account is a bank account established among a merchant and a payer that gives businesses the opportunity to accept payments from debit and credit cards. The money is not transferred instantly but held for a certain period of time and then the business receives it. Some might wonder why they need the account from the first place, but the truth is that it offers many advantages, among which increased revenue and online development. In today’s era it is necessary to provide consumers a wide array of possibilities, especially when it comes to payment.

People use cash less than ever and they prefer electronical-friendly methods. They want to pay using their credit and debit card and once they find businesses that allow it, they continue to shop from them. Not to mention that customers have trust in brands that take all security measures and go the extra mile to please their desires. For businesses as well it is more convenient to receive the funds in their bank account and deal with cash less. Tracking orders and money is easier this way and financial departments are able to conduct reports and expenses better.

Why Adopt Credit Card Processing

All business managers are encouraged to know the implications of credit card processing and why it is recommended to accept such payment methods. Perhaps it sounds like a lot of work at the beginning and they have to pay certain fees regularly, the impact on the business is undeniable. Prospect buyers gain a sense of trust in your brand when they see the logos of credit cards you accept. They have and trust the cards in their wallet, so they trust the merchants who accept them as well.

Once you accept credit and debit cards, you will notice a boost in sales, because you will attract other target markets and reach a customer database that prefers such payment options over cash-only operations. The more customers you attract and satisfy, the more money you make. Keep in mind that people talk, and it is very likely that buyers recommend your products and services to others. You can even think about expanding the business and in case you are not delivering outside the country yet, you will soon enough. There are many more opportunities and you can make your business grow.

You don’t have to open a physical store in another location, you can develop a powerful online presence. Have you thought about taking your business online? Online sales are growing day by day and business owners need to think about participating in this trend. Being able to process sales and payments online is crucial and it is possible through a merchant account. Without it, you are not able to take part in this ecommerce sector. Accepting major payment cards is the fastest and easiest way to help your business expand and attract more buyers. It requires some commitment and investment, but all efforts are worth it.

Having a merchant account streamlines the checkout procedure online, but also in-store. Clients are more satisfied with payment options when there is a trustworthy account that processes credit/debit cards. Also, they will feel more comfortable purchasing from you, because they see the business in a more professional manner. However, it matters who you choose to process payments and what company will partner with your business. You need to take the right decision and think about several aspects, as otherwise you can meet complications and put your business at risk.

Choosing a merchant account provider is a very important decision. It needs to offer technical support, security methods, and have a proven track record. You can view reviews and testimonials and find out if clients complain about services or if they are completely satisfied and recommend the provider. Rates matter as well, especially for small businesses that don’t have a large volume of sales just yet and they need to keep costs under control. What about hidden fees? Having a realistic quote helps and providers need to be open about all costs involved and if they plan to increase them in the next period.

Why Accept Credit Cards

Credit card processing should be embraced by businesses that want to grow sales and stay ahead of competition. It is very likely that competitors already accept credit cards and if you want to remain profitable, you should offer the same services. It is not worth leaving your prospect clients in the hands of your competitors, when you can easily find secure and reliable solutions to process all orders and payment from customers. The process is stress-free, especially if someone experienced and reputable handles it.

Many shoppers buy products and services on the spot, especially if they can pay with their credit card. Impulse buying is very effective for businesses, because clients don’t have to run to the ATM or write checks, they simply enter their card information and place orders. Many studies reveal that people tend to spend more money when they pay with their credit or debit card. This is another good reason to embrace credit card processing.

At a certain point, businesses deal with bad checks and these have a negative impact on the profit, not to mention time wasted to track down the client and get the money back. Credit card processing reduces the risk of fraud and if you choose a reliable merchant, you can be sure the process is secure, and all transactions are protected from identity theft and data breach.

One of the Best Merchant Services for Restaurants Provided by a Payment Processing Company!

What Is AmEx OptBlue?

One of the best merchant services for restaurants is AmEx OptBlue. But what is so special about this method? Well, it a newer method that provides several advantages over the standard ones. Payment processing companies developed such methods to gain advantages over their competitors. So, instead of using the standard methods, businesses like yours can use better alternatives to get benefits and better results.

All you need to do is to find a reliable payment processing company that provides software with this type of feature. There many companies in the payment processing industry, and it is not easy to find one that can take care of all the needs of your restaurant. So, you will have to spend some time and effort to do research until you find the perfect solution for you. But the benefits are so big that your investment will seem tiny.

Why Does Your Restaurant Need to Use AmEx OptBlue?

As mentioned above, the AmEx OptBlue payment processing method is better than the standard alternatives. It offers two advantages that will produce more results and profits for your company. These advantages are:

• Faster processing. The standard processing method requires between 3-5 days to transfer the money into your account. But the OptBlue method is much faster. The money will be transferred to your account the next day for the payments made before 7:00PM and the second day for the payments made after 7:00 PM. This difference may not seem very important for some businesses. But it is helpful for a restaurant that requires constant funds for buying ingredients and having many other small costs.

• Lower fees. A reliable payment processing company will also have lower fees than the standard method. The amount of money saved for each transaction may not seem very high. But if you cumulate the differences, then it becomes massive. You will be able to reduce the costs of your restaurant without sacrificing anything. It may even seem that you get paid to use the top-notch payment processing software.

From the two advantages motioned above, your restaurant will be able to get serval benefits that will help you grow your business at a much faster rate than before. The main benefits are:

• Increased efficiency. With a waiting period of 3-5 days, you need to use alternative methods to pay for all the costs required by the restaurant until the money enter the account. Keeping track of all the transactions made and having a complex system will drop the efficiency of your business. On the other hand, with the OptBlue method, you can simplify the process and increase efficiency. This, in turn, will increase the productivity and the growth speed of your company.

• Reduced costs. Not only will you be able to reduce the restaurant costs through smaller fees. But also, the additional costs that you had to pay because of the long delay. The time and effort spend will also be reduced and can be redirected to other activities that will increase the profits of the company. In the short term, the amount saved may seem very small. But in the long term, this small amount will continue to grow and bring bigger and bigger profits to your company.

• Increased growth speed. A small difference in the growth speed of your company will be a gigantic change in 5 years. Reliable software that offers advanced features can be compared with one or two more motivated and certificated employees. Just imagine how much value your business can get over the years. But to get all these benefits, you will have to spend some time and effort. You need to find a payment processing company that provides software with all the features that your business needs.

How to Find the Company That Provides Best Merchant Services for Restaurants on the Market?

Every industry is different. Every company is also different. So, you will not be able to find software that is perfect for everyone. But you need to find the one that has the best merchant services for restaurants. To do that, you can search for all the options on the internet. Many companies personalized their software for separate industries. Although the mainframe is the same. But the features will differ based on the industry. Moreover, you can also use integration to personalize the top-botch software for your company’s needs.

All you need to do is to research the features of the customized-for-restaurants software. When you can reduce the number of alternatives to only a few, you can check the reviews and the reputation of the companies. If a company does not have a good reputation and many of its clients are not satisfied, then it does not matter how good their software may seem. Because you will most likely reach the same conclusion as the rest of its clients. For this reason, you must ensure that the payment processing company has a very good reputation and that its clients are satisfied.

To do this, you need to check specialized websites and forums and find more information about the payment processor that interests you. Doing that will ensure that you can eliminate the alternatives with a negative reputation and focus on those that have a positive reputation. Next, you can contact some of the clients of the company and ask about the quality of the software it provides. You can get a low of useful information that will help you decide faster. And the more you find out about a company, the more you will know if it is suited for you. And even if you make a bad choice, you will be able to change it anytime you want. You will only need to make a better research next time. But you will have the experience required to find a better alternative.

Why Does Your B2B Business Need a Payment Gateway Software?

A Top-Notch Software Must Provide Level 3 Processing!

One of the best ways through which a B2B business can save more money is to receive payments through level 2 and level 3 processing. And the best way to make use of this opportunity is to find a payment processing company that offers a payment gateway compatible with these types of processing. But what are these alternative methods of payment processing?

When a bank transaction is made, there is a fee named interchange. This fee covers over 80% of the total value of all the fees paid for each transaction. The cards used by the government, businesses, and corporations are type 2 and type 3 cards. And the fees made through these cards can have a much lower fee in the transactions are set up properly. And the easiest way to set them up is through a payment processing software that can take care of this task for you.

Of course, you can set up these types of transactions manually. But it is a very complex process that will make you lose a lot of time. It may not even be worth it to set them up manually because that time could be used to receive more payments and make more money. So, instead of getting a headache from trying to do this task manually, it is in your best interest to make use of a payment processing software. And let it do the task for you. Not only is the process automated, but it is also fast, and it does not require any time and effort.

What Benefits Can You Get from a Software That Provides Level 3 Processing?

But what exactly are the benefits that you can get from using software that automates the level 2 and level 3 processing? Well, the interchange fee that you will pay through using these types of transactions is up to 50% less than the level 1 processing method. So, you can save a lot of money from not having to pay so much for every transaction.

To make it easier to understand and calculate how much money you can save through this alternative, you need to know that the standard interchange fee is 2.95% for every transaction. On the other hand, for the ones processed through level 2 or 3, the fees are only 1.9%. That is more than 1% for every transaction that your company will make. Depending on the size of your company, this amount may seem too little or too very much. But to put things into perspective, you will be able to save more than 1000$ for each 100,000$ in transactions of your company.

It may not seem a lot. But if your company transactions amount to more than 100,000$ every month, then you could even hire one more person in the company from the savings. Doing this will help your company generate even more money. Or, you can consider that you got the software for free, even getting paid for using software that will help you grow your company even more. Keep in mind that a payment processing software will offer many more features and benefits besides this opportunity to save money.

What Other Features and Benefits Can You Expect from a Payment Gateway Software?

Most of the time, a B2B company will sell services to another company. And the best payment alternative for this type of business is to use recurring billings. So, you need to find a payment gateway that offers this type of feature. There are three essential benefits that you can make use of by using this billing method.

• Improve billing efficiency. As a business owner, you should already know how important convenience is for humans. Even for productive people, a high level of convenience that will save them time is very appreciated. For this reason, if you are going to use a recurring billing method, you will improve the efficiency of the process and save time for both you and your clients. Most of them will most likely appreciate this time saved. And you will be able to keep them as clients for longer periods.

• Reduce costs. Level 2 and 3 payment processing are not the only way to save money. By using this type of billing, you will also be able to save some money. How so? Manual billing requires you to pay specific fees. But with a recurring method, you will not need to pay those fees. So, you can save even more money for every transaction that you made using this method.

• Enhance loyalty. As mentioned above, convenience and time saved will leave a positive impression on your customers. And if your company can provide everything that it promises, then this positive impression will increase the loyalty of your clients. Moreover, it will be much harder for them to change a provider that offers a high level of convenience. So, you can almost guarantee that you will be the only provider of your clients for as long as they need this type of service.

But there is another feature that you can get from the leading payment processing companies on the market that will satisfy your potential clients even more. That is a massive increase in the security of your payment systems. All the billing information will be kept online in places where it is impossible to be hacked and stole. And this increase in security will also increase the trust that your potential clients will have in your company.

With so many features and benefits, what stops you from searching for the best payment processing company for your business? All you have to do is to search on the internet and check as many software as possible. You can even test them until you find the best alternative for your company. But the best method is to first research the websites on the companies and only test the alternatives that provide you with all the necessary features and benefits for your business.