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
January 13th, 2014 by Elma Jane
Most of the world has already migrated to EMV chip technology. EMV, as commentators have noted, affects not only hardware and software, but every card payment system, device and application. Looking ahead to the 2015 liability shift, stakeholders who have not made the switch should consider these benefits of EMV.
Rather than focusing on any potential expenses, however, stakeholders should instead consider the important elements they have to gain.
EMV is here.
Benefits of EMV:
Global interoperability – Since most of the world has migrated to EMV, U.S. banks can that transition gain the ability to have their cards used with full EMV security anywhere in the world. Further, merchants benefit from this global interoperability as it allows them to process transactions coming into the U.S. from foreign travelers in the same way as domestic transactions.
Higher security – The latest data indicates that 78 percent of all counterfeit card fraud originates in areas where EMV has not yet been widely implemented, and even the most ardent detractors of EMV admit that EMV is very secure.
All stakeholders, gain a higher level of security than was available through magnetic-stripe technology.
Roadmap to mobile – POS terminals that support contactless EMV will in turn enable mobile EMV on NFC at merchants, meaning merchants can take advantages of all manner of popular payment methods, as well as the latest loyalty, location-based and couponing capabilities of mobile.
Posted in Credit card Processing, Credit Card Security, EMV EuroPay MasterCard Visa, Mobile Payments, Mobile Point of Sale, Near Field Communication, Point of Sale, Smartphone Tagged with: card, card fraud, card payment system, chip, contactless emv, counterfeit, couponing, EMV, interoperability, magnetic stripe, Merchant's, mobile, nfc, payment methods, POS terminals, secure, Security, technology, transactions, transition, travelers
