Processing Debit Cards
The RIGHT Way:
Keep YOUR Money
In Your Pocket!
Listen up! This is one of the best money saving tips you'll get when you work with a merchant credit card processing company.
Most businesses take debit cards and credit cards the same way - swipe the card, charge the card, sign here, thank you, goodbye.
What most businesses don't know is that the "get in, spend money, get out" mentality is costing them bucket loads of money and it is making the credit card processing companies a pile of cash the size of Mt. Everest! Here is how you can stop your credit card fees nose bleed:
1. Start asking every single customer: Is this a debit card?
If they say yes, use the "debit" key on your keypad to swipe the card...and simply hand the terminal to the customer and say "Please enter your PIN". YES, hand the whole terminal to the customer. If you have an ancient terminal, we recommend looking into getting a FREE credit card terminal as soon as possible!
2. Get a pin pad and wear it out.
Pin pads can cost $40 or $50 a month for a lease or $400 or more up front but they can save you a ton of money in the long run. We typically advise pin pads for every single client, even if you are getting a credit card terminal. Having a pin pad is a convenience for your customer. Pin pads aren't as bulky as a credit card terminal - and you are more inclined to ask "Is this a debit card?", even when it is a busy day!
3. Finally, 50% of your customers use debit cards to buy your products and services!
That's right. In most cases, your customer is buying your product or service with a debit card! In fact, start watching the cards as they come through over the next day or two and you'll start to see a pattern: You're taking debit cards as credit cards and it is costing you every single time! Take a debit card out of your purse or wallet and look at where the word "debit" is...and look for similar cards.
As soon as you start taking debit cards as debit cards, you should see a decrease in your credit card fees. This is one money saving tip that you can not ignore!
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