5 Reasons To Use A Payment Processor

Businesses utilize a payment processor to handle the details of receiving credit card payments. It transfers card information to the banks and payment networks, including Visa, Mastercard, American Express, and Discover, from anywhere clients tap, swipe, or enter their card information. If your business has any plans to accept card or ACH payments – a payment processor is a must.

Let’s examine the top five advantages that payment processors provide companies like yours:

1. Accept multiple forms of payment
2. Offer alternative payment methods
3. Integrate with current systems 
4. Receive payments from anywhere at anytime
5. Flexibility to grow 

#1 –  Accept multiple forms of payment

The ability to process payments using credit cards and debit cards is the first and most significant advantage payment processors offer. This knowledge might seem self-evident but think for a second about how much income your company could lose if you couldn’t accept credit cards.

A brief list of prerequisites for the majority of organizations’ smooth operation includes reliable payment processing. According to Worldpay’s 2018 Global Payments Report, credit cards and debit cards together made up 42% of e-transactions and 74% of consumer payments made in person in the US in 2017. In a 2022 report, Intuit Inc. also determined that businesses that do not accept plastic miss out on approximately $7,000 in sales annually (Intuit). As a result, accepting credit and debit cards is crucial for day-to-day operations.

#2 – Offer your customers alternative payment options

Customers desire options, especially when it comes to payment methods. Although necessary, credit and debit cards are by no means the only significant form of payment. Consumers of today want to use a growing range of alternatives, such as making payments with mobile wallets on their cell phones. 

Businesses can choose the best combination of payment options to offer their consumers with the aid of payment processors. Payment processors help you keep consumers happy by enabling them to pay however they like, from direct bank transfers (ACH payments) to pre-paid cards, and card-on-file. 

Whether you can provide all the payment options your clients want depends on the payment processor you choose. Take the time to learn about your options before committing, regardless of whether your company deals with payment processors directly or via a third party.

GET ONE-YEAR FREE

Lawn Buddy and their payment processor, EVO, are offering you one year of one of our highest subscriptions, saving you up to $720! This partnership allows your customers to pay in various ways, from ACH Payments, Card on File, and Digital Payments – you now have the opportunity to try out Lawn Buddy’s best features risk-free.

#3 – Receive payment from anywhere, at any time

You can accept payments from anywhere, at any time. Unfortunately, payments are not top of mind for your customers. But when they are ready to pay, no matter what time of day, you are now free from the shackles of in-person payments and the reliance on customers being home at uncertain times. 

Payment processors make it easy for customers to pay. And when it’s easy for customers to pay, the faster they’ll pay you. Using payment processors also gives your customers a familiar way to pay – meaning you are providing your customer with the best possible experience. In fact, 54% of customers spend more money with a business if they can pay digitally (Digital Transactions). 

#4 – Integrate payments with your own systems

There are numerous specialized systems used in business. The development of company efficiency—and the preservation of business sanity—require integrations that enable various business systems to communicate with one another (ideally within the same platform).

If you find a payment processor that combines additional business automation capabilities, such as job scheduling, invoicing, crew/employee management, and even includes a customer relationship management (CRM) system, you will be able to manage every aspect of your business in one place.

YOUR ALL IN ONE PAYMENT PROCESSOR

Lawn Buddy can help you manage every aspect of your business from one place. In addition providing payment processing, job scheduling, invoicing,  crew management, and more – it’s easy to use, reliable, and secure. Streamline your operations and focus on growing your company today.

#5 – Flexibility to grow with your business

Like your business, payment alternatives are quickly evolving. Leading payment processors support companies like yours in navigating the payment industry’s rapid developments. Scalable full-service payment processors work in partnership with companies at all stages of development. 

Many third-party services that resell or package payment processing are created for early-stage small firms. Leading payment processors are capable of growing your business, from sole proprietor start-ups to enterprise enterprises on a worldwide scale, and the best can even assist you in achieving that expansion.

Lawn Buddy is a payment processor that assists companies like yours in cutting expenses and accelerating revenue through efficient processing. To discover more about how we connect companies like yours to growth in an easy and flexible way, check out our website or give us a call to chat with one of our Growth Experts.

Learn more about our payment processor and the future of payment processing with our partner EVO Payments on the Lawn Theory Podcast.