When credit cards were first introduced, only the largest and most successful companies could afford to open merchant accounts.
Thanks to the rise of e-commerce and mobile credit card processing, any business can now accept virtual payments — regardless of industry or size. What once was a competitive advantage has quickly evolved into an absolute business necessity.
State fairs are a summertime tradition. Some of the largest, such as the Texas State Fair, the Minnesota State Fair and the Ohio State Fair, attract more than a million visitors each year.
The state fair is more than just a place to show off your prized thoroughbred, ride the Ferris wheel or enjoy a corn dog; they’re an excellent place for retailers to showcase locally famous crafts, foodstuffs, hand-crafted furniture and metal work.
Using mobile credit card processing at the state fair
As a business owner, your goal is to find convenient, time-saving, and straightforward ways to process customer payments. After establishing electronic payment options for your customers via credit and debit card payments, you need to also explore the possibility of accepting ACH payments. These are electronic payments that are carried out through the Automated Clearing House, an extensive network of nearly every bank in the United States.
Showing your support for political issues and candidates is about more than signing petitions. Politics requires funds for campaigning and taking action, and securing that funding no longer only means busting out the checkbook.
As a business owner, you already know that electronic payments save you time and money. In fact, when you calculate the processing fees, man-hours and material costs of traditional paper billing, direct payment can save you as much as $20 per transaction. A business with 10 employees, for example, can reduce annual expenses by up to $2,400 by enrolling its staff in direct deposit.
What is the environmental cost of sending or receiving a single paper check? After all, it's just a slip of paper. How large a footprint can it really leave?
On the surface, paper billing doesn't seem so bad. But every paper-based transaction sets off a chain reaction of additional steps whose cumulative cost to the environment is much higher than you probably realize:
If just 20 percent of American households switched to paperless billing for things like utilities and mortgages, it would prevent nearly 700 million pounds of greenhouse gases from being produced, according to NACHA – the electronic payments association.
According to research by MasterCard, during times of economic despair, consumers favor financial instruments that limit their ability to overspend. At the start of the financial crisis, approximately $141 billion in consumer spending shifted from credit cards to debit card products.
American shoppers love prepaid cards. In 2012, U.S. consumers used prepaid cards to make $99.5 billion in purchases — a 19 percent increase from just the year prior. In 2014, total prepaid spending could exceed $200 billion, or roughly five percent of all retail purchases in the country.