There are likely businesses out there that, for whatever reason, are under the impression that accepting credit cards is a step that is not necessary for them. There may be a number of logical reasons that they think this; however, the state of the technologies available are such that businesses of any size can benefit from the range of options for credit card processing for small business. Let’s look at a few common excuses.
It’s often harder to envision a change of any type in your business, especially when compared to the way things have been done up to now. Every business owner who is holding on to checks as the main way they get paid knows deep down that there is a better, easier, cheaper way. Most businesses will be pleasantly surprised not only in how effortless the system is once it’s up and running, but also just how easily they are set up generally. In a sense, it just takes business owners the will to set down the burden of their old way so that they can embrace the new.
The fear that you aren’t big enough for credit cards to make sense for you is a real one, and it has its root in the older way of things, where economies of scale meant that small businesses had to pay more for accepting credit cards. If your store processed fewer than a certain number of transactions per month, you had to pay a higher per-transaction fee, or an additional monthly fee, or both.
Keep in mind that in general, it’s gotten cheaper to start accepting credit cards, as new players have entered the payment and driven down the prices through competition. Likewise, the difference between what a “big” retailer and small businesses has shrunk too. Still, when you’re shopping around, it’s good to find out about any volume-based price differences, to see where you stand, and to avoid any surprise charges that might be out there. For Moolah, we like to make credit card processing for small businesses as simple and transparent as possible. That means no matter who you are, you’ll enjoy a low 2.69% + $0.29 charge on your transactions, with no monthly fee as long as you meet the monthly minimum of $19.95 (if you don’t you just get charged the $19.95). It’s that simple.
Accepting credit cards is almost certainly the right decision for any business—but some providers are better than others. Odds are that Moolah’s combination of great service and sensible rates will be right up your alley.