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How to Find the Right Merchant Account for Your Restaurant Business
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Posted On :
Jul-19-2010
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Article Word Count :
801
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In the fast-paced environment of the restaurant world, time is money. That's why it is so important for different restaurants to choose the right provider of merchant services that will meet their needs.
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In the fast-paced environment of the restaurant world, time is money. That's why it is so important for different restaurants to choose the right provider of merchant services that will meet their needs. From online ordering to fast and reliable credit card transactions, there are a wide range of payment services available for any business. See which aspects of merchant services will be most important for your account.
Look for Customized Options
Restaurant owners need a merchant account that evolves along with their business. Browse through different options to find what will work the best for your establishment, like allowing customers to keep a running tab or separate a bill among several credit cards. Many restaurateurs enjoy the freedom of wireless credit card terminals for deliveries or curbside pickup. See if the company you are considering has a system that lets customers add a tip after the bill has been authorized, or combines the bar tab with the meal bill for one smooth transaction. With so many scenarios unique to the restaurant world, you need a merchant service provider who understands the demands of your company and can adjust your payment system accordingly.
Shop Around
Compare different providers to be sure that you're getting exactly what you need at a reasonable price. Beware of hidden fees and costs that can pile up quickly if you're not careful. Learning the rates of several merchant service firms will give you a good idea of what to expect—and what to avoid. It's always a good idea to have an accountant or consultant review any offers so that you can protect yourself from unwanted surprises. Before you sign that dotted line and enter into a contract, be sure that you are well informed of the services provided and how they will translate into your restaurant.
Check out Online and Wireless Systems
Experience a new level of versatility with wireless and online payment options that allow customers to make a purchase at any time and from any location. Handheld and portable terminals that feature a wireless connection make it easy to enact transactions on the go. In this digital age, customers expect online menus and, in some cases, a way to order pickup or deliveries from the comfort of their own homes. Find out where your service provider will store customer credit card information and how secure their network is. If you choose to do all of these options, you'll be well on your way to exceeding customer expectations and staying ahead of the competition.
Set up a Fast and Easy Credit Card System
For top speed and performance, search for providers that offer credit card processing that's up to your expectations and the standards of the industry. If you prefer a credit card terminal with wireless capabilities, a backlit touch screen, large PIN pad, and no-jam printer, then be sure to get the specifics on your potential merchant service provider's available products. Some terminals even forego the need for a customer's signature when the total price is under a certain amount. Does your business also do deliveries and cater parties? Then you definitely need the ability to do business over the phone as well, whether you process the transaction through a terminal or computer software. Know your likes and dislikes when choosing your new credit card system and you'll be well prepared when it arrives at your restaurant.
Consider Loyalty and Gift Cards
Stimulate your business' cash flow by selecting a program that allows for gift and loyalty cards. Popular for its ability to draw in new customers and provide a sort of cash advance, gift cards can be redeemed online or through credit card terminals. Do you like free money? That's what unused gift cards provide to thousands of businesses each day. And many customers spend more than the price listed on the card, so it's a great way to draw in more business. Satisfy customers and keep them coming back with loyalty programs that allow for discounts and higher brand visibility. You will increase customer retention and your cash with the simple use of loyalty and gift cards.
Selecting a new merchant account is never easy. You have to research what different companies have to offer, from online and wireless services to their rates and customer service. When a provider presents customized options for your restaurant, you know that they have put serious thought into how to improve payment systems for your industry. Spending time investigating a number of organizations and going over your findings with a partner or consultant is always a wise move. Updating your transaction systems and building up your cash flow while catering to the ever-changing needs of consumers will reap immense rewards in the future.
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Article Source :
http://www.articleseen.com/Article_How to Find the Right Merchant Account for Your Restaurant Business_26017.aspx
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Author Resource :
Andrew Kilmeade is a freelance writer who writes about a range of topics including merchant services and companies that offer them such as North American Bancard.
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Keywords :
north american bancard,
Category :
Business
:
Business
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