- Card on file. Merchants have a secure way to store credit/debit card and checking account details so they can charge their regular customers without requiring them to present a card or check.
- Email receipts. With a gateway merchants can send receipts their customers can easily store electronically.
- No extra hardware to maintain. Why have multiple devices to manage and pay for when most businesses have personal computers on site already?
Unlimited users who can log on from anywhere. With the merchant's express permission, their bookkeeper can log in from their office to get transaction reports, clerks can log on from the front desk to process payments and merchants can log in from any Internet connection to check on the business from anywhere in the world.
- PCI Compliance. Most payment gateways are continually updated to remain fully PCI compliant while most existing POS terminals simply aren’t PCI DSS compliant. After the massive recent data breaches with Global Payments, Sony et al., this issue will become increasingly important as the card associations start cracking down on non-compliance.
- Customer Data at your fingertips. Gateways generally support loading customer information which gives the merchant a great way to communicate with their customers for promotions and loyalty.
- Re-Occurring Payments . With a gateway re-occurring payments need only to be entered one time, and told how often to occur.
- Doesn’t tie up a phone line. Standard POS terminals use phone lines to communicate with the processor which requires merchants to either lose their line while the transactions process or get a second phone line which is often times more expensive than the monthly fee for a gateway.
- Rental/lease fees. Merchants often pay $30-$80/month to rent or lease their POS terminals which is more expensive than simply using a payment gateway.
- Marketing. With a gateway, receipts can be printed on preprinted sheets that market the Merchant’s business. They are larger than normal receipts so a consumer will be more inclined to keep them and respond to a marketing message than if it’s printed on a small POS terminal receipt. What a great way to incent your customers to save your marketing message. With a VPOS, you can actually turn your credit card processing into a great new way to make grow your business!
Wednesday, April 25, 2012
Ten Reasons Why a Payment Gateway is Better for Your Business
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