Card Processing for your Bakery
If you operate a bakery, regardless of its size you will discover a variety of measures you could take when it comes to processing payments that may perhaps increase your income.
Accepting payments through Card Processing
It might not appear to be the most obvious business to associate with card processing, but when you consider the level of cash most people are prepared to spend on card this could be the best move for your organisation.
Card Processing Merchant Accounts
A common misconception is the fact that you can only acquire card processing services through your bank. The truth is there are a range of providers of card processing providers who will control the process of transferring funds straight into your business bank account.
The rates that you are charged for this service are generally lower with an independent card processing company simply because they have the ability to completely focus on SMEs (small and medium enterprises). SMEs are usually over-charged by banks because they’re given a flat rate opposed to card processing rates dependent on the quantity of transactions and turnover made. Independent card processing providers possess the buying power to negotiate lower rates which are then forwarded to their customers.
Opening a Card Processing Merchant account
Opening an card processing merchant account should be pain free with rates quoted to you on the phone. Some providers can have you set up within a matter of days.
Why enable card processing in my bakery?
The prime reason to employ card processing is that people prefer to pay with credit card. Paying by credit card allows the customer:
- Quick access to the funds in their bank account
- Security and safety. Chip & PIN technology has helped to combat fraudulent behaviour.
- The capacity to buy on impulse.
Debit card usage alone has increased fourfold in the last decade; which is double the amount as overall spending. Payments by credit card are therefore fast becoming the preferred payment method for individuals.
Small businesses just like bakeries will still advantage from a card processing terminal. If you advertise that you enable card processing and display your credit card processing devices on your counter top you’ll find that a growing number of customers will tend to pay using this method. This will undoubtedly increase consumer spending and will open up your business to a broader market.
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