October 24th, 2018 by Admin
Having a product or service based business can be easily manageable when you are pricing your business correctly. But can it be done? Before processing, consider pricing.
What does that mean? Before you pick your payment processing service, consider pricing them correctly. Pricing can be tricky sometimes. If you charge too much, you might have a harder time selling your product but if you charge too little people might not honestly see the value of what you have to offer.
There are a certain number of things you need to consider that can make your life easier when it comes to pricing. Knowing your market can, by far, be the most important thing of all. Without knowing your market, you cannot correctly know whether your product or prices will be good.
Knowing your market can greatly positively impact your business. It can help you figure out anything from pricing to branding and including what you can do to grow the business. Start by building up your perfect customer or “avatar” write what your ideal client would enjoy, dislike, what age, gender (if applicable), and even area where they would live.
Once you have this, it will give you a better idea on how to price your services. Consider this:
You sell handmade bags. Although it does not take you too long now to make the bags, the materials are costly, and you need to maximize its use. Your ideal client would not hesitate in buying them, is into fashion, and although anyone can buy them, you have seen many girls ages 18-25 falling in love with them as you walk around with your bag.
Knowing the age group, you know how and where to market and can figure out how much are they willing to pay for your bags. You can also research how much are you competitors charging and see if you price matches, is under-priced or over-priced based on this research.
The next thing you need after figuring out the age and market is your materials. How much do you spend per product? You would need to consider if the price covers the cost of making it and gives you profit.
Having all of these factors will help you price your items correctly so that you are on your way to business success. Once all of these are set up and taken care of, then it is time to set up your account with National Transaction to have a personable and secure payment processing service to start earning on your business.
Posted in Small Business Improvement Tagged with: accept payment, b2b business, business, business cards, card payment system, credit card, entrepreneur, fort lauderdale, NAtional transanction, payment processing, retail, services
March 6th, 2014 by Elma Jane
MPOS Mobile Point-of-sale.
Mobile point-of-sale is evolving as more merchants and consumers begin to accept payment through smartphones and tablets. The end of 2013 saw a number of acquisitions and new players shape the market, and all the signs are pointing to 2014 as the year in which MPOS goes mainstream.
Indeed, 2014 should be a defining year for MPOS. Data contained in the most recent MPOS Tracker as an indication that the major players are moving seriously to capture market share, educate merchants on the benefits of MPOS and work to make interaction with the systems simpler for consumers.
Existing companies bringing out new platform enhancement, new players popping in, partnership made it was more active, and it’s been very active in the past. This technology is going in the market, and where this industry is headed is upmarket and globalization. In order for each of these things to happen, it’s much more about the application programming interfaces and the platform that enables than the actual app itself.
A critical trend this year is global expansion outside of the U.S. This growth will help promote MPOS and push it into the mainstream as a vehicle for payment.
More adoption happening as major retailers start to integrate MPOS into their existing systems. Over time, consumers will start to use their mobile devices to make payments more frequently.
In the past, most of the activity has been in the small and midsize business space in the U.S. A lot of the use cases were niche markets, as this technology moves up to major retailers, it will become more visible to consumers that it’s not just a niche application, but it’s a regular, day-to-date encounter for them to run into MPOS.
As for the future, the signs point to continued growth both in terms of new players appearing and in market consolidation among the smaller players. However, some will have a tougher time than others as new MPOS companies seek both market share and relevance in the wider ecosystem.
Posted in Best Practices for Merchants, Credit card Processing, Credit Card Reader Terminal, e-commerce & m-commerce, Electronic Payments, Internet Payment Gateway, Merchant Services Account, Mobile Payments, Mobile Point of Sale, Point of Sale, Small Business Improvement, Smartphone, Visa MasterCard American Express Tagged with: accept payment, app, application programming interfaces, integrate mpos, major retailers, make payments, Merchant's, Mobile Devices, mobile point of sale, MPOS, platform, Smartphones, tablets
