7 Tips to Improve Merchant Services and Get More Customers

  • October 5, 2021
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Merchant services allow businesses to process and receive online electronic payments.

Aside from allowing seamless transactions, it can also increase your customer base. And through quality merchant services lead appointment setting, your business can hone in on new clients with laser-like precision.

Now if you want your business to get more customers through quality merchant services, you’re in luck! Below are tips that will help you do that.

Accept Credit and Debit Cards

With most consumers paying with their cards these days, your business needs to accept card payment in order to keep up. Accepting debit or credit cards generally leads to positive results. For one thing, it will make your establishment look more legitimate. Entertaining credit and debit cards also reduce your risk of getting bad checks. But more importantly, it will boost your sales and improve your company’s cash flow. So if your business is not yet accepting card payments, now’s the time to change that.

Offer Multiple Payment Options

More than half of consumers also expect more than one payment method from businesses, especially those run online. So aside from entertaining credit and debit cards, you need to dish out other payment options for your clients. Doing this improves your company’s merchant services, and it makes transactions more convenient for both parties. If possible, try to offer every payment method there is, notably PayPal, electronic bank transfers, and checks. If you’re running an e-commerce store, you should also observe your target audience to see the payment methods they prefer.

Go Mobile

Another growing trend in merchant services now-a-days is mobile payments. More and more Americans are starting to appreciate this type of payment method, with many millennials even recommending digital wallets. By giving people the option to send payments from the comforts of their phones, you can improve your merchant services and increase your customer base in one go. What’s more, mobile payments can speed up your transactions, as well as make cash flow in your business smoother.

Consider Cryptocurrency Payments

Although there are still a lot of issues to iron out when it comes to crypto, it’s safe to assume that it’s here to stay. And as more and more people and businesses accept it, you should consider accepting it as a mode of payment, too. So try to slowly introduce cryptocurrency to your merchant services. You can start by accepting Bitcoin payments, as it’s the most popular crypto. Then you can work your way from there by adding other coins, as well as by integrating discounts and promos (more on this below).

Allow Payments for Non-Members

Additionally, you need to make these payment options available without requiring your customers to have an account. With many businesses these days going online, most of them encourage people to set up an account so they can enjoy better customer experience. But while this has its perks for regular customers, it’s not so great for first-timers or those who are only making one-time purchases. It will feel too intrusive and annoying, which will put them off from buying in the future. So don’t force people to create an account just to get your product and services. Offer your wares to anyone who wants them, and make sure they enjoy a decent payment transaction.

Avoid Redirecting Customers

While teaming up with a third-party payment processor has benefits for online businesses, it comes with certain downsides as well. One of these is that it will make your customers feel like they’re being passed around. Getting people to check out your business’s website (much less buy your product or service) is hard enough. Don’t let your efforts go to waste by redirecting them to third-party check out pages. Instead, try to integrate your partner’s pages to your own website. Otherwise, you could end up ruining your customers’ experience, turning them off from your brand for years to come.

Offer Discounts, Promos, and Rewards

People love freebies and goodies. So to make their merchant service experience better, offer discounts, promos, and other rewards for certain payment options. Buy one, get one promotions are great examples. By offering two of your products for the price of one, you’ll draw more customers to your brand. It’s also a great way to clear stock, allowing you to replenish your inventories with new products. Alternatively, you can offer loyalty rewards to certain people. This can come in the form of points (which they can convert to gift checks when they reach a certain point) or a chance to win something big. In any case, by offering these goodies to your customers, you’ll easily boost your sales.

Final Thoughts

To ensure great customer experience and increase your sales, you need to offer quality merchant services alongside your products. By following the tips mentioned above, you’ll be well on your way to making sure your payment transactions are top-notch and people-friendly.

 

Read more:
7 Tips to Improve Merchant Services and Get More Customers