5 Cool New Ways You Can Get More Profit From Using The Right Terminal

category: News posted: May 25, 2017
5 Cool New Ways You Can Get More Profit From Using The Right Terminal

Having the right terminal can make the difference between struggling to make ends meet and exceeding profit expectations. It’s a truth that is very rarely acknowledged outside of the merchant processing industry. If you have the bare-bones basic form of merchant processing that you have known and loved for years, you might still be cheating yourself. Here are some profitable ways the right terminal can help your business bloom:

  1. You can pass the credit card fees to the client. PassThrough technology allows you to improve your profit margins by passing your merchant processing fees onto the client. This means that what you get from your sales stays in your pocket. Studies have shown that industries can improve their profits by as much as 3% or more, depending on how many people use cards to charge their costs. 
  2. You can add loyalty programs to your business practices. Studies confirm that loyalty programs make better customers and also tend to order more products. In some studies, businesses that implemented these programs had as much as a 10% profit rise via loyalty programs. Clover makes it easy to have loyalty programs for clients – and also to keep in touch with them.
  3. You can also learn what advertisements and products work with your people. Business analytics can give you insight on what’s really doing well in your company, and what methods you should stop investing in. With better insight come better profits, and a better way to improve your overall quality of clientele.
  4. You can also profit via an online e-commerce store that is totally operated via terminal. This allows you to get orders online, meet demands, and also accept payments before people even come to get it. Studies showed that online ordering can boost sales by up to 20% - and that means a lot more profit for you.
  5. Lastly, you can also add cool features to your overall repertoire. Clover POS, for example, allows you to tailor the terminal to suit your needs. So, if you need to have a terminal that offers trivia night games and the like, then you can do it. If you want to promote your online site, you can get apps that do that, too.

The bottom line is that you really are doing yourself a disservice if you’re only getting the most basic of terminals out there. Your business deserves better, and so do your clients. Give Red Payments a call, and we can help you maximize your company’s potential.