Business that want to be dynamic in their respective fields and want to conquer a large and reliable customer database need to understand the simple function of payment processes in order to be able to take their business revenues to the next level. When there are only limited options available for paying for services, customers tend to be distracted with better offers from other similar businesses and may just ignore the businesses that does not have even the basic payment processing features.
The business that provides the best and updated payment methods in terms of the payment methods available due to technological advances will be the business that will always look sparkling in the eyes of the customer. Merchant services is a singe domain through which a business can maintain all payment collection and processing modules in order to ensure that every single dollar from the customer is properly routed to the business’ bank account and their is none lost at transaction. Most importantly, beyond processing just credit or debit cards, or electronic fund transfers, businesses are required to provide other value add on options for customer satisfaction.
Merchant services in collaboration with other resources have started panning out attractive offers for customers based on the type of businesses to ensure that the customers can gain more from their purchases than just the services ordered for.
The common value add-ons that merchant services regularly provide are:
Discounts and Promotional Offers: Every customer looks forward to surprise offers every now and then, and merchant services based on inputs from the customer and existing market trends can set up a offers page in the course of a customer’s transaction page in order to allow a offer that the customer could pick either free of cost or a discounted price as part of its purchase. These offers not only attract customers but also give other businesses an opportunity through tie-ups with varied businesses. For example, for a purchase above a certain amount, a restaurant coupon in the customer’s proximity would definitely make the customer happy. The offers could be on varied products like credit cards, or collection of redeemable points for future shopping, etc, will facilitate the required sales figures targeted by businesses.
Mobile Payments: Today’s updated customers would like to free themselves of using a credit or debit card for every single transaction. In such cases, customers who are frequent e-wallet users can simple use the application on the phone to process instant payments at any given point of time. Merchant services can ensure that these payments reach the business without any delay even if it beyond the businesses’ working hours.