Developing an easy way to accept payments is crucial to the cash flow of home and commercial staging businesses. While accepting cash, wire or ACH payments is still prevalent, accepting a credit card as a form of payment comes with more benefits. Most home staging companies prefer other forms of payment because of the transaction fees. That is until the rules have changed allowing home staging businesses to surcharge the credit card processing fees. implementing a compliant solution allows them to pay 0% in credit card processing fees. If the home staging company charges $5,000, they receive $5,000. Paying less in fees than they would by taking Check, ACH or wire. While also staying 100% compliant with the rules the card brands set, not risking being fined or terminated.
Benefits of Accepting Credit Cards For Home & Commercial Furniture Staging Business
Preferred by customers
Accepting credit card payments is a preferred method by many homeowners. Providing your customers and with more payment options increases your ability to satisfy your customer's needs.
If homeowners learn that you are accepting a credit card for payment, they’ll more likely choose you over your competitors who only accept cash payments since using a credit card is a lot more safe and convenient on their end. Also
Eliminates Bad Checks
Aside from cash and credit card, you can also accept checks as a form of payment. However, you may find yourself at risk of receiving a bad or bounced check, and this could significantly affect your working capital, especially if you are paying inventory financing and storage. By accepting credit cards, you’ll get to avoid risking your money on bad checks.
Improve Cash Flow
Typically, credit card transactions are likely to be settled quickly by the bank provider, and they will directly deposit the payment into your business bank account, thus improving your business cash flow.
If your concern is the cost of accepting credit cards, opt for a surcharging solution allowing you to pass on the fee to the customer. This allows home staging companies to cover the cost to accept credit cards. With a credit card surcharging solution the home staging company is able to pay 0% in credit card processing fees. It is important that you do not simply add a fee for credit cards because you need to follow the rules set by the card brands in order to stay compliant.
Next Day Funding
Implement a credit card surcharging solution with next day funding. If you opt for next day funding you will see the funds in your account on the next day. Much quicker deposits than checks or ACH.
Improve Profit Margins
Moreover, credit card surcharging can also help to improve your profit margin since you pass all the necessary fees to your customers. If home staging businesses implement a surcharging solution they pay less to accept credit card than they do for checks, ACH and wire.
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