Category: Best Credit Card Processing

Mobile payment is something that has grown over the years, and it’s something that we have continued to see spread as small businesses pop up and more and more events get scheduled. This form of payment is something that has proven to be extremely beneficial for multiple businesses, in a variety of situations. As your primary payment processing provider, Impact Pay would like to go over a few of the reasons that considering a mobile payment processing setup is something that you should do. We’ll visit a few of the reasons that we run into most frequently, and are likely instances that you’ll see too.

TRADE SHOW

When you’re focusing on getting your business name out there, there’s a good chance that you’ll be making a few appearances at trade shows. These are fantastic ways to interact with potential customers, give samples of your product out, provide consultations to any services that you may offer, and more. In the case that you are offering any products or services for scheduling, you’re going to want to make sure that you have a reliable form of payment processing on hand. This is, after all, the first impression that some of these potential customers are receiving. Mobile payment is a fantastic option that is easy to setup, easy to use, and always reliable.

 

EVENTS

your beer going to have a booth at a local event? Maybe you’ll be selling your t-shirts at one of the high school football games. There are plenty of events that turn to local vendors, big and small, to help get some merch and catering set up for events. If your business is going to be hosting an event or is going to be contributing to an event, having a solid method of payment is something that you are likely going to be expected to have. When you consider how many people are going to be showing up to the event, and that you were selected or are being paid to be at the event, a reliable form of payment processing is necessary. Using mobile pay will be quick and easy to setup, and reliable through and through.

If you are constantly on the move or are attending events where you will be scheduling services and selling products, then you’re going to want to have a method of processing payments. Aside from the events above, you could also be participating in trunk shows, traveling to meet potential business partners, selling out of your home, or frequently moving offices. Staying ready is something that mobile payment processing allows for you to do, and we can help you get there.

The way that you prepare yourself to take payments is something that your customers will remember. Stay prepared by always having a reliable form of payment processing on hand. If you’re ready to set up your mobile payment processing, reach out to Impact Pay today and we can help you get set up. We’ve provided you with high-quality payment processing up until now, and we can continue to do that!

Interchange is a factor that makes it possible for businesses of all sorts to function. The fee you pay in order to utilize this process of transferring money every transaction may seem outrageous when you pay it, but when you look at all of the purchases that it completes in a matter of minutes, it makes sense why you pay it. With technology making some serious strides, it goes without saying that there are plenty of trends that could affect the fees for your interchange look, but all for the better. Below is a list of trends that we are currently seeing with interchange fees.

SECURITY

This form of payment requires an increase in security when making payments. Because information of the bank account is transferred in so many different places, it makes sense that increases in security continue to be formed. We are seeing a big trend in the amount of security that is being pushed to various business of all sizes. This particular trend is one that can minimize issues with security down the road and is one that we’re excited to see the effects of throughout the implementation process..

COMPETITION

The ways that payments are processed vary on the method that was made. Impact Pay System finds a process that will benefit you the most, but there are plenty of competitors out there that will offer you a different setup, at a different cost. This competition is becoming a trend with the fees of interchange systems in order to create a more competitive field.

TECHNOLOGY

One of the things that continue to be worked on is the effort to minimize paper in this process. There are trends that are making this contactless, prepaid and micropayment schedules that will increase the chances of going paperless through this whole process. This may be a small step for this end goal, but it is one that is definitely one that is in motion.

PRICING FACTORS

There are plenty of things that will be included in the pricing of your interchange fees in the next couple of years. If you don’t currently have an interchange system and are looking to invest in one, you can count on pricing varying on the size of your establishment and how often you’ll be using on an average account. You will also find these prices fluctuating with compliance and registration requirements over time and as those factors change.

Having an interchange system that you are confident can be difficult to find, but it doesn’t have to be. We know how important this decision is and we can help you manage this system even after it’s been installed for your establishment.

Impact Pay System can provide you with a secure and effective method of payments coming into your establishment. Reach out to us today for more information so that we can help your business get set up on this efficient pay method. We would love to provide you with this credit card processing system!

If surcharging confuses you, you aren’t alone! Until recently, ambiguity about surcharging has caused a bunch of confusion in the payment processing industry. The good news is, due to litigation in 2012, merchants can surcharge transactions done with credit cards. As a merchant, it’s important for you to understand how surcharges work. At Impact Payment Systems, we know our services are foundational to your business, and we take that responsibility very seriously. Let us share some of our knowledge with you!

In our last blog. we discussed surcharge basics, including the two different types, brand level and product level. Today, we want to look more closely at these two levels and share the general rules around them.

BRAND LEVEL SURCHARGE RULES

Remember, this surcharge blankets transactions done with specific credit card brands (e.g. Mastercard or Visa).

PRODUCT LEVEL SURCHARGE RULES

This surcharge blankets transactions done with specific credit card products (e.g. Visa Signature Preferred, Visa Signature).

Making sure you’re following regulations is one of the best ways to make your business stronger. Let us further your goals with the best credit card processing and beyond. We are here to give you the tools you need to grow and thrive. Learn more today!

Lowering operating costs is always a good thing, as long as it can be done constructively and legally. Many times, the success of your business will depend on it. The fact that everybody has to take their cut of your profits before they get to you can create a challenging situation and make the complexities of payment processing quite daunting. We are here to not only provide world-class processing services, but to help you understand our world and how it works for you.

In our last blog, we went into some detail about how interchange fees work. Understanding what makes interchange what it is will help you going forward. Today, we want to talk about a common topic for merchants: how to minimize interchange fees.

I WANT TO LOWER MY INTERCHANGE FEES!

The best way to do this is to strictly follow best practice for card acceptance. Remember, the lower the risk, the lower the fee. Now, what does best practice look like?

The best way to minimize the risk of your transactions is stick to the guidelines developed over time. The guidelines are made to protect everyone involved. Make sure you have the very best credit card processing when you work with Impact Payment Systems!