best virtual credit card

Services by Payment Processor Companies!

Mike Myer, , , , , Leave a comment
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One of the toughest tasks for an e-Commerce business owner is selecting the right payment processor. A payment process is required for allowing the customer to pay through their debit credit card. The role of the payment processing company is to transfer the customer’s money to the business owner’s bank account. There are many payment processor companies available in the industry. Choosing the right payment processor company is important. When you are selecting the payment processor company one of the important factors you must consider is the pricing. The payment gateway must support the shopping software and fulfill the needs of your business. 

Authorizing and processing are the two main steps done by the payment processing companies. The payments must be mapped securely. The steps followed by the payment processor companies are given below:

  • Credit card processor companies will verify the credit card information provided by the customer during the billing of the product. 
  • It also ensures that the card has adequate funds for payment. The company also authenticates the payment.
  • It provides an order confirmation number after approving the payment request.
  • Finally, the merchant service providers approve the payment and transfer the fund from the customer account to the e-Commerce business owner account. 

All the above-mentioned transactions will be done in an encrypted form. To make sure that the customer’s credit card or bank account information is secure. Customers can use the best virtual credit card to make the payment more secure. The payment processing company can also directly integrate with the POS system to process the payment.

One of the important factors considered while selecting the payment processor companies is the cost. Business owners want to reduce their overhead cost so cost is one of the critical factors. Some of the costs involved for payment processing are set up fee, monthly charge, interchange cost charged by the customer’s bank, association cost charged by the credit card company, markup cost charged by the merchant’s bank, and processing cost charged by the payment processing companies. 

Some of the other factors considered while selecting the credit card processing are payment options provided by the company, site security, customer service, and access speed.

Compare a few payment processing companies and select the one that satisfies all your business requirements. Merchant Services Broker Solutions is one of the best companies and it offers the best credit card processing for small businesses and large businesses. For any queries regarding the payment processor, you can contact Merchant Services Broker Solutions. Call 888-912-6727 for more information.

Understanding the Convenience of Point of Sale System for Small Business!

Mike Myer, , , , Leave a comment
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Point of sales are an essential element in shopkeeping with a multitude of functional factors contributing to their processing efficiency. Further, different businesses require different POS setups with equally varied hardware and software. A point of sale system for small business forms the crux of enhancing customer relations and making available numerous managerial features to systemize your proceedings.

Let’s get into the details of how favorable various POS systems are for organization and sales management of different small businesses.

POS Systems and their key components

Point of sales have come a long way from being mechanical cash registers to accepting mobile payment to being virtual cloud-based systems with the ultimate security. Every POS has two components – the software and hardware.

Software consists of the frontend interface allowing on spot customer transactions and the backend interface allowing extensive analytics, reporting, and management.

Hardware is mostly the PC or tablet where transactions are registered, a receipt printer, cash drawer, barcode scanner, network devices, and a credit/debit card machine.

Analyzing different scenarios of POS systems 

POS systems for small businesses dealing with hospitality, like hotels, differ vastly from that required by a small cafe or a retail store. Here is a brief look at two such scenarios.

Hybrid POS systems for restaurants or restaurant chains

The point of sale in a restaurant requires a system where orders are placed and relayed to the kitchen in real-time. Further it must be capable of making reservations, tracking tipping options, and filling up empty reservations posts as and when they get cancelled.

For systems working on unstable network connections, an offline mode is selectively available so functioning continues even with no connectivity. New data gets synced once the system is back online.

Cloud-based POS for small cafes

Many startup cafes choose to avail the simple cloud-based services POS systems have to offer for their business specifications. iPads serve as the functional interface for upfront transactions with a Bluetooth savvy card reader. Cafes that prefer taking cash can integrate a cash drawer for security. 

Receipt printers are typically preferred by people as proof of purchase so availing a receipt printer comes next. The POS system allows a windup of daily activities with discrepancy checks, transaction organizations, and the eventual logging out.

Remote services include analytics and reporting to ensure perfect accounts and bookkeeping.

Final thoughts

Similarly, POS systems for retail stores require multiple features specialized to accommodate the numerous consumer products. Organizing and inventory tracking are prioritized factors with hardware options to support the volume of products.

Virtual credit card services offer a more streamlined payment processing option that many small businesses are unaware of. The added layers of security and management are suited for businesses of any size when availed from the best credit card processing company.

Merchant Services Broker Solutions furnish a custom-made approach to your business processing by incorporating the right technology with ideal payment processing solutions. Give the experts a call at 888-912-6727 and get your consultation booked today.