If you are looking for a more affordable way to process your credit cards, there are a few advanced options that you may want to consider. Virtual terminal processing, IOLTA account processing, and online check processing are all more affordable alternatives to traditional merchant accounts.
If you’re looking for a more affordable credit card processing option, you may want to consider using a virtual terminal. A virtual terminal allows you to process payments online, and it can be a more cost-effective solution than using a traditional credit card terminal. Additionally, if you have an IOLTA account, you may be able to process online checks at a reduced rate. By taking advantage of these advanced credit card processing options, you can save money on your processing fees. Contact your credit card processing provider for more information.
What is a Virtual Terminal?
A virtual terminal is a credit card processing option that allows you to process payments online. This can be a more cost-effective solution than using a traditional credit card terminal, and it can also be a convenient way to accept payments from your customers. A virtual terminal typically runs through your web browser, so you can process payments from any computer or mobile device.
Virtual terminal processing is a great option for businesses that do not want to set up a merchant account. With virtual terminal processing, you can simply enter the credit card information into a secure website form and the transaction will be processed. This is a great option for businesses that only process a small number of transactions each month.
What is an IOLTA account?
IOLTA stands for Interest on Lawyer Trust Accounts. An IOLTA account is a pooled, interest- or dividend-bearing business checking account for the deposit of client funds which pays all interest earned to the Lawyers Trust Fund.
IOLTA account processing is another great alternative to traditional merchant accounts. IOLTA accounts are bank accounts specifically set up to accept credit card payments. The account is linked to a merchant account, and the funds are transferred to the merchant account once the transaction is processed. This is a great option for businesses that want the convenience of a merchant account, but do not want to pay the monthly fees associated with traditional merchant accounts.
If you have an IOLTA account, you may be able to process online checks at a reduced rate. An IOLTA account is an interest-bearing account that is specifically designed for law firms. By taking advantage of this account type, you can enjoy reduced processing fees when you process online checks. To learn more about this option, contact your credit card, processing provider.
What is Online Check Processing?
Online check processing is a great option for businesses that want the convenience of credit card processing but don’t want to deal with the fees associated with traditional merchant accounts. Online check processors allow businesses to process credit and debit cards by scanning checks through the mail or by taking pictures of them with a cell phone. This option is ideal for small businesses that don’t have the volume or type of transactions to qualify for a traditional merchant account.
Online check processing is a great option for businesses that want to process payments without having to install any software or hardware. Online check processing is a very affordable option, and it is also very secure.
Gift Cards
Gift cards are another great option for businesses that want the convenience of credit card processing but don’t want to deal with the fees associated with traditional merchant accounts. Gift cards allow customers to purchase goods or services with a pre-loaded amount of money.
Gift cards are a more affordable option than traditional credit cards, and they are also a great way to increase sales. Gift cards are accepted by a wide variety of businesses, and they are also popular with consumers. This option is ideal for businesses that sell goods or services that can be purchased with a set dollar amount, such as restaurants, salons, and spas.
Cellular Payments
Cellular payments are a great option for businesses that want to take payments on the go. With cellular payments, businesses can accept payments using a cell phone or other mobile device. This option is ideal for businesses that need to take payments from people, such as contractors, plumbers, and electricians.
Cellular payments are a very secure option, and they are also a very affordable option. Cellular payments are accepted by a wide variety of businesses, and they are also popular with consumers.
If you are looking for a more affordable way to process your credit cards, consider using one of these advanced options. Virtual terminal processing, IOLTA account processing, online check processing, gift cards, and cellular payments are all more affordable
These are just a few of the many advanced credit card processing options that are more affordable than traditional processing methods. Businesses that are looking for a more affordable way to process payments should consider these options.
Need a Credit Processing Option that May Cover All the Above Options
There are a few different advanced credit card processing options that are more affordable than traditional processing systems. These systems can provide your business with the ability to take payments in a variety of ways, including online, in person, and over the phone.
One option is to use a payment gateway. A payment gateway allows you to accept payments online by integrating with your website. This system is typically more affordable than a traditional merchant account, and it can be set up fairly quickly.
Another option is to use a payment processor. A payment processor allows you to accept payments in person and over the phone. This system is typically less expensive than a traditional merchant account, and it can also be set up quickly.
If you are looking for a more affordable credit card processing option with multiple features, be sure to consider a payment gateway or processor. These systems can provide your business with the ability to take payments in a variety of ways, and they are both more affordable than traditional processing systems.
Whatever type of credit card processing system you are looking for Balanced Processing Partners has a wide variety of choices. Our consultants can review your small business model and determine what is best for your individual business situation. If you would like to learn more please reach out to us at (800) 354-6256 or via email at [email protected].