You're a business owner. You know the importance of banking with a local institution that understands your needs.
Can a small business have the same competitive advantages that large-scale businesses enjoy? When it comes to treasury solutions – absolutely. No matter the size of your business, you have financial needs and banking relationships which need to be maintained in order to thrive.
When operating a business, you quickly learn that there is a lot of unique language specific to merchant services. Merchant Services is a general term used to describe the hardware and software components used to accept and process debit and credit card payments. There is an ever-growing list of the types of payments, from online purchases to in-person. Three of the most common processes are swiping, dipping and tapping.
If you own or operate a business, you have most likely heard of Merchant Services. This is a financial term for a business’s ability to process payments for goods or services. Depending on the business, that process can be anything from accepting cash to a multitude of transactions such as card readers, contactless payments or online shopping. And, depending on the merchant services provider you choose, you could receive basic payment processing capabilities or you can opt for robust hardware and software backed by expert customer service.
How often do you hear this when checking out at a retailer: "Are you a member of our loyalty program?" or "Do you have your rewards card with you today?" These days, consumers can easily collect a keychain full of bar-coded fobs designating their loyalty to certain merchants. The programs aren't a passing fad. In fact, studies show that loyalty and reward programs are growing in popularity because of the benefits they offer to both businesses and consumers. The great news is that these programs are no longer just for the big box stores--there are some simple ways small business owners like you can show your customers how much you appreciate them, and keep them coming back!
How often do you hear this when checking out at a retailer: "Are you a member of our loyalty program?" or "Do you have your rewards card with you today?" These days, consumers can easily collect a keychain full of bar-coded fobs designating their loyalty to certain merchants. The programs aren't a passing fad. In fact, studies show that loyalty and reward programs are growing in popularity because of the benefits they offer to both businesses and consumers. The great news is that these programs are no longer just for the big box stores--there are some simple ways small business owners like you can show your customers how much you appreciate them, and keep them coming back!
It's been said that in order to succeed in business, a small business owner should secure trustworthy relationships with three types of professionals: an accountant, an attorney and a banker. Each of these partners provide crucial services to help your business grow. But how do you know you've chosen the right one?
