Nevada Small Business logo
Search
  • Start

    Random

    • w

      Work-Life Balance for Busy Entrepreneurs

    Recent

    • ?????????????????????????????????????

      Four Ecommerce Mistakes to Avoid

    • t

      Three Things Every Business Owner Should Know

    • t

      Seven Tips for New Entrepreneurs

    • Legal
    • Manage
    • Money
    • People
    • Promote
    • Technology
  • Grow

    Random

    • t

      Ten Cybersecurity Tips for Small Business

    Recent

    • ???????????

      Six Tips for Business Apologies

    • business-fraud_98178864-20

      Business Fraud Prevention Tips

    • ??????????????????

      Five Business Lessons You Can Learn From Franchises

    • Legal
    • Manage
    • Money
    • People
    • Promote
    • Technology
  • Manage

    Random

    • Smiling African American female nurse shopping online.

      Consortium Commercial Cards: Get Paid for Making Payments

    Recent

    • Growing inflation concept

      Eight Ways Your Business Can Weather Record Inflation

    • ?????????????????

      Nevada State Bank: SBA Lender of the Year

    • H

      Six Security Practices to Implement

    • Legal
    • Manage
    • Money
    • People
    • Promote
    • Technology
  • Economic Briefing

    Recent

    • Elko Economic Briefing

      Elko Briefing - 2nd Quarter 2022

    • Economic Briefing - June 2022

      Economic Briefing - June 2022

    • ?????????????????

      Economic Briefing - May 2022

    • Elko Economic Briefing

      Elko Briefing - 1st Quarter 2022

    • Economic Briefing - April 2022

      Economic Briefing - April 2022

    • March 2022 Economic Briefing

      Economic Briefing - March 2022

    • Economic Briefing February 2022

      Economic Briefing - February 2022

    • Economic Briefing - Jan 2022

      Economic Briefing - January 2022

    • Elko Economic Briefing

      Elko Economic Briefing - 4th Quarter 2021

    • Economic Briefing - Dec 2021

      Economic Briefing - December 2021

    • November 2021 Economic Briefing

      Economic Briefing - November 2021

    • Economic Briefing - Oct 2021

      Economic Briefing - October 2021

  • 2022 Small Business Survey
  • Newsletter Signup
  • Resources
  • About
  • Visit NSBank.com
  • Start
    • Legal
    • Manage
    • Money
    • People
    • Promote
    • Technology
  • Grow
    • Legal
    • Manage
    • Money
    • People
    • Promote
    • Technology
  • Manage
    • Legal
    • Manage
    • Money
    • People
    • Promote
    • Technology
  • Economic Briefing
HomeGrowMoney

Payment Gateways Can Help You Increase Sales

It doesn't matter if you run a local, small-town business, a Fortune 500 company, or a global enterprise, getting paid quickly for products and services is a key component of business success. Quick payment can speed cash flow through any business, enabling owners and managers to expand operations, hire new employees and grow profitable faster. It’s just common sense that the more ways clients and customers can pay you, the more likely it is that payments will be made quickly.

If cash is your only payment method, you may lose credit card sales simply because many people today, especially younger people, don’t carry cash. Instead, they carry credit cards, debit cards, smart phones, tablets and other payment gateways.

Credit cards are a “must-have"

Many consumers pay with plastic. For a business, accepting credit cards may mean not only more sales, but also an increase in the revenue per sale, because credit cards can enable consumers to make large purchases and pay them off over time.

Establishing a merchant account through your bank enables your business to accept payment with credit cards. The costs of opening a merchant account are generally low, and so are per-transaction fees. That increase in sales may offset the cost of a merchant account many times over. Talk to your bank representative about opening a merchant account to add this critical payment gateway to your online or offline business.

Debit cards are a popular payment method

Carrying a debit card eliminates the need for buyers to carry a lot of cash. Payments are made at the point of sale (POS), and monies move from the buyer’s account to the seller’s account instantly.

Electronic Funds Transfers (EFT)

EFTs move money smoothly from one bank account to another. The buyer authorizes the electronic funds transfer, provides your routing and account number, and the money is electronically transferred into your account – often within minutes.

Don’t forget smart phones

Smart phones often contain apps that enable consumers to pay right there in the store, or half-way around the globe.

Researching a bank for your business

Be sure to choose a bank that not only offers a roster of payment gateways, but also offers multiple layers of security. For example, smart phone sales transmissions should be protected with encryption software. Client information should be protected by firewalls, security software, and human oversight to detect suspicious activity.

Ask about the bank’s fraud protection programs

These programs should be customized to your business’ needs and include complex, detailed analysis of automated clearing house (ACH) activity, credit card purchases and other features that minimize the risk of your business becoming a victim of fraud.1

Discuss integration of payment gateways into your business’ daily operations

If your business generates 10 transactions a day, chances are you can track daily activity yourself. However, if you process hundreds, or thousands, of transactions daily, look for a payment gateway service that offers detailed records-keeping of sales and payment activity.

This can be a cost cutter and a time saver. Merchant accounts can sort your sales and payments quickly so you can track inventory, cash flow, client and customer activity, as well as seeing what’s moving out of the warehouse and what’s collecting dust.

Ease of payment, features, flexibility and multiple payment gateways – these are the things to look for when researching the right merchant account for your company, and the best place to start is at your bank, where the managers already know you and your business.

Talk to a bank representative today about ways to simplify the payment process for clients and customers.

1. Click here for information about fraud prevention services from Nevada State Bank.

 

Popular Posts

  • Office Interior

    Office Space: Should You Buy or Lease?

  • Office Gossip

    Office Gossip: A Problem You Don’t Need

  • b

    Is Your Body Language Helping or Hurting Your Business?

  • ??????????????????????????????????????

    Eight Tips to Help Stop Shoplifting

  • s

    Six Ways to Find Great Team Members for Your Small Business

    accounts receivablebookkeepingcash flowcredit cardsdebit cardselectronic funds transferfraud protectionMasterCardmerchant accountNevadapayment gatewayrevenue per salesmall businessVisa

    Business Mentors: Why, How and Where to Find Them
    From Employee to Entrepreneur: Seven Success Tips for New Business Owners

    Related Posts

    • e

      Creating an Employee Handbook: Formalize Workplace Rules

    • Business-Relocation-What-to-Do-Before-Moving-On

      Business Relocation: Ten Things to Do Before Moving On

    • Economic-Briefing-–-March-2013

      Economic Briefing – March 2013

    • c

      Continuing Education for Your Team and Your Company

    We help Nevada’s small businesses succeed.

    Hosted by Nevada State Bank, we're a one-stop digital resource center for business owners, executives and entrepreneurs. Looking for advice from nationally known financial experts? You’ll find what you need here.

    Nevada Small Business

    • Start
    • Grow
    • Manage
    • Survey Report
    • Economic Briefing
    • About Us
    • Contact Us

    Newsletter Signup



    Follow Us

    Follow Us on FacebookFollow Us on TwitterFollow Us on LinkedInFollow Us on YouTube

    The information contained herein may not represent the views and opinions of Nevada State Bank or its affiliates. It is presented for general informational purposes only and does not constitute tax, legal, or business advice. Clicking any of the links to 3rd party sites will direct you to a website that is not affiliated with Nevada State Bank or Zions Bancorporation and may have a different privacy policy and level of security. Nevada State Bank and Zions Bancorporation are not responsible for, and do not endorse or guarantee the privacy policy, security, accuracy or performance of that site or the information, products or services that are expressed or offered on the site.

     Nevada State Bank, a division of Zions Bancorporation, N.A. Member FDIC | Equal Housing Lender
    © 2022 Zions Bancorporation, N.A. All rights reserved.

    Online Privacy Statement

    Warning: You're about to leave the website!

    You are about to leave Nevada State Bank's website and be directed to a website that is not affiliated with Zions Bancorporation, N.A. dba Nevada State Bank or Zions Bancorporation and may have a different privacy policy and level of security.

    Zions Bancorporation, N.A. and Zions Bancorporation are not responsible for, and do not endorse or guarantee, the privacy policy, security, accuracy, or performance of the third party's website or the information, products, or services that are expressed or offered on that website.