With most companies that accept credit cards, business owners get faced with a major problem. Fees from the credit cards end up eating their profits, which in turn means that they often struggle with making ends meet. Despite these companies knowing the issues that can come with a merchant surcharge, they still eat the fee. Why?
Well, they’re often uneducated when it comes to the truth about merchant surcharge pass-through technology. Here’s five things that you may not have realized about this new technology, and how it can help your business.
- Most companies who use it do not see a difference in the amount of customers who use their services. The biggest issue people have with pass-through terminals is the possibility of having customers walk away. The truth is that very few customers will actually refuse to shop at a venue due to the use of pass-through. Chances are, it will not make a difference in how much you sell.
- For many small businesses, it’s the only way to afford merchant services. It’s true, and that’s why many small businesses end up being thankful that pass-through gives them the ability to stay afloat. After they get established, it’s very common to see companies re-evaluate their options years down the road. Even so, many small companies remain thankful that pass-through is there.
- Not all plastic can be used in surcharges. Credit cards can almost always be surcharged, but debit cards? Not quite. Believe it or not, laws require certain forms of plastic payments to be foregone in transactions. So, your clients will still be able to pay in plastic and not be surcharged as long as they use debit. It’s a win-win for both parties, and that means that profits can be higher than before.
- Surcharge terminals aren’t outdated or broken, either. This is a common misconception many business owners have. It’s just not true, though. These terminals offer state-of-the-art payment security technology, and are capable of rapidly accepting payments just like any other terminal.
- Chargebacks are not as difficult as you’d expect them to be. When you first hear about pass-through technology, it’s easy to see why chargebacks may seenm to be a problem. That’s why many chargeback-prone companies tend to avoid pass-through. However, that’s not always a wise choice. The right company will offer a program that makes chargebacks easier than ever to process. Merchant Surcharge, for example, is known for having a remarkably easy chargeback protocol that takes all the work off the business owner’s shoulders – and lets the pros do the work.
If you are tired of being nickle-and-dimed by credit card companies, it’s time to look into new options. That’s why Merchant Surcharge has so many ways that small business owners can get the services they need, without the constant fees eating up their profit. Give us a call today, and you can start calling bad profit margins a thing of the past by tomorrow.