Ways to Reduce Business Costs in 2023

Stop wasting money on merchant services when you don’t need to! Here are effective ways that you can reduce merchant costs, and it’s easier than you think.

• Use the right technology for your business- Don't use a terminal if most of your business is done over the phone! Send out invoices, add a payment button to your website, create a QR Code for payment, and email or text a payment link! (See ours below!)

• Go Paperless -

 

In most instances, there is no need for customers to get paper reciepts or statements. Add paperless options to your technology; like text or email reciepts and see those paper roll purchases dimish! 

• Send your current statement to Merchant Processing Solutions and anyone else you trust to do a cost analysis of your current situation - 

We have noticed that without annual OVERSIGHT, merchant processing companies tend to increase pricing, they do tell you in the obscure shadows of your statement each month, but you really don't know the impact until its too late! Also calendar your expiration date of any contracts with merchant providers at least 2 months before expiring! This gives you time to unload those companies with NO PENALTY! (Merchant Processing Solutions has NO CONTRACT!)

• Lower employee and contract vendor hours by hiring a merchant processor that offers BACKOFFICE Account and Data Retention - 

Business owners burden themselves with so much accounting and paperwork it becomes overwhelming that they need help. Instead of looking for the right merchant processor like Merchant Processing Solutions that helps with a robust BackOffice, they add hours to their employees to do the reconciliation or they hiring accountants, bookkeepers or CPAs. These people are great for what they are intented to do but the business has to have their sales and customer data managed and up-to-date in order for those professionals to do their job! 

• Manage your time better - if you have to spend hours updating your financial books, you are not growing your business! Spend time Networking, adding Social Media awareness and other marketing options will help you grow your business! Merchant Processing Solutions can help you with Recurring Payments, Invoicing Payments, Website Payment Options to accept payment and then we offer a robust BackOffice to monitor and report your sales at a glance. Want more? We also offer QuickBooks plug'n play that will automatically upload your sales info! 

These are but a few recommendations for 2023! As we enter the new year, look at your expenses surrounding payment acceptance. Want to know if you are payment a fair rate? Call Merchant Processing Solutions TODAY!

954-938-2420