What is the Flavor of Your Business?


 

 

What’s The Flavor of Your Business?

 

Have you ever noticed that not all tacos are created

equal?  Taco Bell is perhaps one of the most well-known

taco purveyors in the United States.  You can find one in

almost any city.  They are cheap.  They are convenient. 

They have drive-thru lanes. They make buying a taco

super convenient. That’s probably where the buck stops. 

I don’t think anyone ever phoned their mother or best friend to

describe how glorious a taco was that came from Taco Bell. 

 

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3 Reasons You Should Have a Mobile Ap


 

 

Have you considered creating a mobile app for your business?  A few years ago mobile apps were considered something that only large companies used.  They spent thousands of dollars developing app and hoping to connect with their clients through their mobile devices.  The cost of developing your own app is now as low as $250. 

Depending on your type of business, having a mobile app can increase sales as well as help you build loyalty with your client and provide ease of use in doing business with your company.  Here are three reasons you should consider creating a mobile app for your business:

#1 - Mobile Apps Increase Convenience and Loyalty

Having a mobile-friendly website is a good start if you simply want to provide information about your company to prospective clients.  An app that allow customers for update their account information, place new orders, look at past orders and obtain additional information about your company provides more convenience. 

A client who has downloaded your app and can quickly access your company builds loyalty since the information they seek is literally a finger tap away.  This discourages the client from going to a search engine and searching for similar companies and seeing what your competitors offer.  They are more likely to just use the vendor they know and trust and have ready access to.

 

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What Exactly is a Payment Gateway


 

 

You have probably heard the term, “Payment Gateway” many times.  As merchant, you know that you need one and that you have one.  Maybe you even know the name of your gateway such as Authorize.net or PayPro Flow. But, what exactly does the gateway do for you?

 

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Are You Really Getting The Lowest Credit Card Processing Rate?


 

There is no doubt that accepting credit cards is a necessity in today’s world of plastic and mobile payments.  Certain types of transactions such as “card not present” transactions can push the cost of a transaction up simply because the card was not present and increases the chance of a fraudulent claim.

While a credit card processing company may provide you a quote for what is considered “the best rate”, it might only be the “best rate” if ideal conditions are met.  Performing a phone transaction is less than ideal, and even doing a transaction by phone you might end up paying much more if you don’t collect and enter the proper data.  When shopping for a credit card processor you need to be knowledgeable about the way credit card processing fees work to completely understand what is negotiable and what is not.

Is It Really The Lowest Rate?

Most merchants looking for the best rate will call around and ask credit card processors  what their lowest rate is.  If they decide to go with the lowest rate quoted they may be in for a surprise down the road.  The assumption that the lowest rate is the best rate doesn’t always work out.  The lowest quoted rate could end up costing you more money in the long run.  Let’s say that you are quoted a rate of 1.59 percent.  When you review your statement at the end of the month you might find that you are really paying 3.10 percent in what is known as an “effective rate”.  You would probably be upset but the truth is, the lowest rate applied really is 1.59 percent but that rate only applies to “qualified transactions” each month.  Based upon your processing history, types of cards you accept and the way you accept them, you most likely will not “qualify” very often.  There are many rates for different types of cards and transactions that contribute to the overall effective rate.  Never sign a contract that locks you into a long term relationship with a credit card processor.  If you see significant spikes in your processing fees, you need to go shop elsewhere.  A reputable processing company doesn’t do long term contracts.  They provide the best rates and don’t feel there is a need to lock in a merchant to a three-year contract.

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