Become One of the Best Small Business Credit Card Process Services

You may have the latest technologies, hardworking employees and a savvy business model, but that’s not enough to succeed in the debit and credit card processing industry. Like any successful business, the best small business credit card process services not only display all the attributes above, but they also excel at cultivating relationships with current and potential clients.

So to help you grow your debit and credit card processing business, here are a few tips for forging profitable business partnerships.

Keep in touch

 Stay in constant contact with your merchants. It will keep your business at the top of their minds, and if you’re at the top of their minds, another debit and credit card processing service can’t be.

A great way to do this is sending an electronic newsletter. A variety of companies offer user-friendly templates that let you create custom, professional HTML newsletters at little or no cost. Mail Chimp has always worked well for us.
 
As far as content for your newsletter, remember to keep it short. All you need is a logo, a personal message, and some interesting information about debit and credit card processing services that can easily be found on the Internet. Also, keep your tone and design consistent, and try to send your newsletter every month---or at least every quarter.

Build Loyalty

 Don’t let your merchants think of you as a vendor or supplier. Make sure they see you as a partner.

How do you do this? Alert them to new forms of debit and credit processing, such as mobile payments, which will help them grow their business. Furthermore, when you’re near their business, call them and see if you can drop by to say hello. Lastly, build connections between your merchants, referring one to another if you think they’d make good business partners.

Once your merchants start to see you as a partner, keep cultivating those relationships and remember that the loyalty building process never stops. Ask your merchants for referrals, and keep sending business to them as well. This reciprocation will keep your partnerships strong.

These are just a few ways to cultivate successful and lasting relationships with your clients. What are some other great ways to build loyalty among your merchants? Share your ideas and leave us a comment below.

Jeff Fortney is Vice President of ISO Channel Management at Clearent™. His career includes over 35 years in financial services, with the last 17 focused on the debit and credit card processing industry. As one of the best small business credit card processing services, Clearent is a valuable partner to many ISOs and agents. If you’re looking for a new partner for debit and credit card processing services, Clearent will be sure to give you and your merchants high-quality service, competitive pricing and sought-after products and services. Contact us to learn more.

 

5 Tips to Boost End-of-Year Profitability

Now that the year is half over, it is a good time to evaluate the goals you set for your merchant services program back in January. If you’re falling just a little short, here are some tips to get you back on track.

1. Cut Costs

The most basic way to increase profits is to reduce expenses. All you really have to do is assess where you are spending money and see if you are getting sufficient returns. Cutting costs is a surefire way to increase profits, especially when it comes to your credit card transaction processing service and how much money you make with your program.

Small business credit card processing offered by your bank should have competitive pricing. This will help you sign bigger merchants and help you make a greater impact on your overall profits.

2. Track the Money

Depending on the merchant services software provided to you by your credit card transaction processing service, it may be easier than you think to figure out how much your program generates. You might not need to spend hours with a calculator, adding up percentages to know how you are generating profits. Some merchant services software creates graphical reports so you can easily determine the value of your small business credit card processing services.

3. Promote Your Program

When you have a few large merchants and things are busy, it’s easy to forget how much more you could be benefitting by continuing to add merchants. There are a number of ways to increase merchant acquisition; you can create incentives for your personnel and implement in-branch advertising techniques targeting merchants. Create a presentation and set aside an hour to train your front-line employees on how to talk to merchants and give them bonuses for signing more. Small incentives can go a long way towards growing your portfolio.

4. Demand Quality Service

Never forget that excellent service is what keeps your customers happy. Not everyone who claims they provide good service actually does. Evaluate the promises your credit card transaction processing company made when you first started regarding the quality of service you and your merchants would receive, then talk to your merchants. What do they have to say? At the end of the day it is your responsibility to make sure your merchants are happy.

5. Don’t be Afraid to Switch

If you are unsatisfied with your credit card transaction processing company, you need not be afraid to switch to another provider. Many banks are hesitant to do this because they think the process will.

In reality, many providers have a solid plan and a skilled conversion team to get you switched and updated with better service in less than 30 days.

Converting to a new small business credit card processing company shouldn’t be viewed as a hassle, but instead a chance to clean up your portfolio and bring in more merchants to give them better service.

Kick-starting your merchant services program can boost your bottom number while requiring much less work than you ever thought.

 

About the Author

As a Relationship Manager, Nick Karcher supports both current bank partners as well as those institutions that want to know what makes Clearent a different kind of payment processor. Nick began his career in debit and credit card processing with Electronic Merchant Systems (EMS) as an Account Executive and later started his own Independent Sales Office. As one of the best credit card transaction processing companies, Clearent provides the kind of passionate service that others can't. With an abundance of small business credit card processing solutions, Clearent can provide clients with the necessary tools to really make a difference.

Small Business Credit Card Processing Made Easier with Tablets

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Today, technology is being used in ways we’d never imagined before. And because of this, businesses are beginning to look more credible and are becoming more efficient. 

Even other industries, like home repair services are utilizing technology more in their day-to-day profession. Recently, when getting a quick home repair, I decided to call around and get a few estimates before making a decision – a pretty common practice. Three out of the four salesmen gave me a computer-generated proposal on the spot as they were standing in my living room. 

Because they used up-to-date technology, they had a higher level of credibility. In fact, even though the company who supplied a handwritten estimate was a lower price, I decided to go with the more digital-savvy business. 

How does this relate to small business credit card processing? Well, it actually may be even more advantageous and widely used in top rated merchant services. Let’s look at a few ways that sales productivity can improve. 

 

Quick & Simple Application

With the more recent introduction of tablets and smartphones into the mainstream market, more companies are using them to their advantage and regular consumers are beginning to feel more comfortable using them. Now, an application can be signed and emailed all while standing in front of a merchant. 

Products like SignMyPad can be used to capture a customer’s signature on the spot without the time consuming application process. The application questions can be exactly the same as a paper application would be, but instead the answers can be quickly typed directly into the system. Once stored in a computer, you don’t have to worry about the hassle of finding and organizing folders, making copies, etc. You can still print out the application or send emails directly.

 

Direct Send to Underwriting

With electronic applications, the headache and hassle of sending things through to underwriting is also simplified. There will be no issues with legibility, and the paperwork can be sent through directly after the merchant signs. From there, it can be faxed or scanned from a merchant’s specific location. 

Instead of adding more time to the application process, it is instead expedited, leaving more time to win even more sales. 

 

Are you hesitant?

Many ISOs are actually hesitant to try tablets for their small business credit card processing because they don’t want to be the first to try it. However, more and more companies everyday are starting to get into more digitally savvy ways of doing business. It definitely is a top rated merchant service solution.

If your goal is to excel in small business credit card processing, don’t stick to the old application process. Try switching to a tablet device and enjoy more efficiency and a quicker application process.

 

About The Author

Jeff Fortney is Vice President of ISO Channel Management at Clearent. His financial services career stretches back over 35 years, with the last 17 years being focused in the debit and credit card processing industry. Clearent is an experienced large and small business credit card processing company providing passionate service that people don’t really expect anymore. Find out if any of our top rated merchant service solutions can help you improve sales.

Spring: The Perfect Time to Grow Your Credit Card Processing Service

Spring has sprung – and we’re pretty excited about it. Not only is the weather beginning to warm up, but spring is also the perfect season to boost credit card transaction processing.

As we embark on spring and continue into March and April, it’s important to ask yourself a few key questions to prepare for the season. It’s time to determine if you’re taking the necessary steps toward promoting your credit card processing company and that your profits will continue to grow along with everything else this season.

Are your tools up to date?

Do you currently have what you need to sell credit and debit card processing? Make sure you have a toolbox complete and organized with everything you need to make the most out of this season.

Don’t just check to make sure you have a good set of tools, make sure those tools are also up to date.

Have you established your competitive advantage?

Keep in mind, your services aren’t meant to be just for show. Be sure there is an established need for a specific service before you jump on the bandwagon for the next “cool” offering.

One example of a service that can set a company apart from the rest is to offer next day funding merchant services. It’s a service that is not only unique, but a necessary advantage.

Are you using your payment processor to its fullest?

Just as there are many different tools that can make one credit card processing company stand out above the rest, merchant service providers set themselves apart is by the specific services they offer. For example, a company that offers next day funding merchant services is one step ahead of their competition.

Does your payment processor offer any merchant services software? If so, make sure you’re taking full advantage so you can continue to grow your portfolio and profits faster – and get a leg up on your competition!

How are your pricing options?

There are a few advantages of utilizing discount pricing. Don’t just cast this idea aside because Interchange Plus seems simpler. Ask your payment processor for more tips if you are unsure of the method that is right for you!

Have you revisited your call plan?

If you’re like most, it’s probably been a while since you’ve reviewed your call plan. Spring is the perfect time to go in and make any necessary tweaks or updates – who knows, it may even need a total overhaul.

Before spring comes and goes, be sure to ask yourself these four important questions. Time will go by quickly; don’t let the best season for selling pass you by.

What other services do you plan to implement to further grow your credit card processing service?

 

About The Author

Jeff Fortney is Vice President of ISO Channel Management at Clearent™ and has developed ISO partnerships since the early days. His financial services career stretches back over 35 years, with the last 17 years being focused in the debit and credit card processing industry. Clearent is an experienced credit card processing company providing passionate service that people don’t really expect anymore. Find out if any of our solutions like next day funding merchant services or POS software can help you improve sales in spring.

 

Enhance Your Credit Card Processing Service With Social Media

Social media is constantly growing, changing and becoming a larger part of how people and companies interact with one another. It’s a way for businesses to really get to know and understand their consumers and how they can help give them the best experience possible. When it comes to merchant service providers, it’s important to build that relationship with business owners and show them you can provide reliable small business credit card processing. A recent report from the Nielsen Company found a few promising statistics about the use of social media.

 

• About 4 out of every 5 active Internet users frequently visit blogs and social media websites.

 

• 23% of the total time Americans spend online is spent visiting these sites. 

 

• Approximately 40% of social media users gain access via their mobile phones.

 

• Accessing social media via the mobile phone is rapidly growing for those ages 55 and up.

 

Because social media is becoming a larger part of American culture, it’s important that companies offering credit card processing services have an online presence, where their merchants are located. The majority of customers want to know that they are being heard and can rely on companies to respond to their concerns and offer more information about their services and small business credit card processing in general.  

 

Although it’s important to provide small businesses with information about your credit card processing service, it’s also necessary to not overwhelm consumers with only facts and product information. Here are two great tips to using social media to enhance your small business credit card processing company. 

 

1. Keep it Conversational

 

Don’t always be trying to hard sell your products and services to everyone you reach online. Instead, try listening to consumers about what they especially like and dislike about your services. Think of it as a way to build relationships and loyalty, rather than just push product information. 

 

 2. Share Good Content

 

Social media has completely transformed the way that people are sharing information, however it hasn’t quite changed what people are sharing. People are still sharing things that are “awesome”, or in this case, information that is useful and relevant to your specific audience. If you publish content that is meaningful to your consumers, it is more likely that they will share with their friends, start to trust your company and look at other services you offer. 

 

When used correctly, social media can be an important tool in enhancing small business credit card processing companies by helping to foster relationships with merchants. The fact is, people are using social media every day and it’s important to be available to answer questions from your customers and provide useful information in a more conversational online atmosphere. It’s time to spread the word about your credit card processing service.

 

About The Author

As Vice President of Business Development, Kate Root is focused on helping Clearent expand its strategic ISO partnerships, as well as growing financial institutions’ merchant services programs. Kate’s 25 years in merchant services spans senior management roles in both issuing and acquiring, supporting financial institutions and ISOs. It is our mission to build trust-based working relationships with our merchants through our credit card processing service. Learn how our interactive online reporting tools can benefit small business credit card processing. 

 

Providing the Best Merchant Credit Card Processing Service

The word routine is most common in the part of our lives that encompasses the time we spend away from work. Be it making your breakfast, brushing your teeth or tying your shoes, a routine is something you do without even thinking. When it comes to the world of business, however, the word routine is less ubiquitous. Somehow the idea of doing something so many times that you don’t even have to think while completing it, rubs people the wrong way.

A routine does not have to be a mindless activity. On the contrary, it could be a very well thought out and executed task, the only portion that needs to be second nature is the initiation of the task.

In every industry there is a standard for success, and achieving this success is built upon growth – whether personal, financial or for your business as a whole. This is especially true in the highly competitive field of merchant services.

If a merchant services sales person developed a list of mandatory task he or she had to complete each and every day, these tasks would eventually become a routine. Not in the execution of these tasks, but in the initiation of them. Below is a list of tasks that, if committed to a daily routine, will set you on the right path becoming the best merchant credit card processing service.

1. Merchant Management
   Knowing the sales volume of each of your merchants will help you understand which of them are satisfied with your services and which are at risk of leaving. Addressing the high-risk merchants before they have left will build strong CRM as well as save you profits. Your merchant services partner should be able to provide you with reporting on you merchants.

2. Merchant Acquisition
   Growing your merchant services program rarely happens on its own. Bringing in new merchants takes time and effort. Dedicating a portion of every day to calling new merchants is the most reliable was to improve your current portfolio.

3. Merchant CRM
   Acquiring new business is only half of the equation. Following up with them is equally important. Customer relationship management should be added to your schedule each and every day.

4. Staying Relevant
   The merchant services industry is one that is always changing. This means that in order to be the best merchant credit card processing service and to stay relevant to your merchants, you must stay informed. Setting aside a few minutes of your day to look up industry terms, new technologies and what your competitors are doing is a great way to stay on top.

The common belief is that is takes 21 days of repetition to turn something into a routine. When thinking about next month’s schedule, it may be ideal for you to add each of the listed items above to your daily checklist. What may start as being something time consuming and tedious will turn into something that is simple and the driving force that is turning you into the best merchant credit card processing service in your industry.