If Own an Online Shop, These 10 Ideas Can Help Grow Your Business
Which payment processor is best for your business, is it BlueSnap or something else? Whether you are looking to accept payments online or in-person, there are many different options available. When it comes to determining which one will work best for your company, it’s important to consider the following: how much money do you want to make?, what type of business are you?, and what can be done with the data that is collected about customers? There is no one size fits all solution when it comes to choosing a payment processor. In this blog post we will go over five types of processors based on these three questions and help determine which one would work best for your business!
Question One: How much money do you want to make? There are three categories of processing that fall under this question. The first is flat fee, which will charge a set amount for the use of their services and doesn’t change based on the size or frequency of transactions. The second category falls between low-cost (0-25% per transaction) and high-cost (over 25%) so it might be more beneficial depending on your financial situation. And finally there is interchange plus, which charges merchants an average percentage but also includes incentives in order to avoid costly disputes with customers over disputed fees!
Question Two: What type of business are you? If your company sells products online then mobile payment processing would likely work best for you. This allows your customers to purchase the product with a tap of their phone, which can be especially appealing if they are looking for an immediate sale! If instead your business is more brick and mortar then point-of-sale payments would work best because it lets people pay at the register rather than online.
Question Three: What can be done with customer data? Data collected by payment processors could help determine what products should be sold or when discounted events might happen in order to drum up sales. For example, companies such as Groupon will give merchants deals that are only valid during specific time periods based on what they know about each individual customer’s purchasing habits!