In order to grow your business one credit card at a time, you need to establish your brand as a leader in the business. Credit cards are great for providing a credit line to employees that need funds to buy equipment, supplies or expand the business. But in order to truly grow your business, you will need many cards to pay for items, rent offices and meet other expenses. A business card is a powerful marketing tool, but you need to be careful how you use it.
Most of SAP Business One credit card processors have worked with small to medium sized businesses that were not taking full advantage of the American Express OptBlue promotion with their former carrier. If you're not getting the rewards of American Express OptBlue and SAP Business One integration, contact American Payment Solutions to receive a free demo of our integrated credit card processing and integrated credit card management software. To receive this free demonstration, you will need to login to the web site using your username and password provided during registration. If you already have an existing SAP Business One or Business Two account, you will be able to login and complete any of the basic sign up functions directly through your SAP administrator panel.
SAP recommends that merchants and other ecommerce vendors use either Visa or MasterCard for payments. While these are generally accepted at all ecommerce merchants worldwide, the ability to process transactions in more than one currency has been made possible through the installation of multi-currency payment processing software. This ability opens doors for accepting credit cards from the most popular foreign currencies. Customers can convert their payment cards to a variety of other currencies, which allows for the multi-currency process transactions to be completed even more quickly. Accepting a payment from a foreign country increases your ability to expand your customer base and gain a wider customer base.
Merchants who choose to implement Visa or MasterCard as part of their corporate credit cards services can also find that they can help save upwards of thirty percent per transaction. This is because these processing companies are able to charge a flat rate for all credit card transactions instead of charging one based on the business's individual charge card volume. For example, if the business processes credit cards at two or three times the normal rate per month, they can look at two or three different charges to compare what each card would cost in the flat rate. That way, they can determine whether it is better to accept Visa or MasterCard and therefore reduce their costs.
Many businesses, particularly those who have the needs of small and mid-sized purchases, can benefit from having integrated credit card processing. This lowers rates at all levels of the supply chain and helps streamline the whole process. When money is saved through lower rates and easier processing fees, it makes doing business more cost effective and profitable. Also, when payments are made instantly through the system, it helps speed up the entire process. No longer do customers need to wait around an hour or longer to receive their purchases because they had to wait by the cashier.
With a corporate credit cards level 3 processing system, transactions are processed faster than ever before. Transactions are also free from errors because the system has built-in fraud prevention measures. Transactions are processed securely, accurately, and quickly because the process is done with digital certificates instead of paper check information. Because everything is digital, there is no need for more than one person to sign for a payment. This helps save on overhead costs, which in turn helps save money for the business because there are no more transaction charges.
The benefits of corporate credit cards that are level 3, which means that the company does not have to maintain its own payment processing server, apply equally to every business. Businesses that are already running on a single database can benefit because they do not have to pay a monthly fee for having a server. But businesses who are still using a single database should . . . . . . consider getting a free setup. One big advantage to get a free setup is that the business gets an identity and credit number that will be different from the ones provided by the credit card provider. This gives the business a separate account and protects it against any type of fraud.
Getting a free setup also allows business to benefit from multicurrency processing. Businesses that accept payments in more than one currency should get a multicurrency credit card processing system. In fact, many of these systems include features that allow you to accept credit cards from more than one country. A good example of a business that would benefit from this feature is a restaurant in New Zealand that travels a lot because it caters mostly to New Zealanders.
Aside from the businesses that accept credit cards, there are also some businesses that make use of electronic funds transfer in order to lower rates. They do this through their corporate accounts. Corporate accounts may require an upfront deposit before the business can process payments. But these companies get instant approval for transactions because the system determines how much money is available to process payments.
For businesses that do not yet have a credit card processor, getting one now can give them better access to other services that can further improve their sales. They can now process payments faster and get better rates. They can also offer special deals or discounts for their clients if they have a credit account with the business. And most importantly, they will be able to prevent themselves from fraud and scams.