Many businesses today are finding it easier to go cashless. Most businesses already no longer accept checks. Businesses often take cash and credit for goods and services, but most online businesses only accept digital payments. Have you wondered if going cashless is right for you? Here are some things to consider before making the change:
- What does your payments profile look like now? While it may make accounting easier, if 30% of your business is paid by cash you may run the risk of losing business.
- There may be additional costs for going cashless. There is a cost to running digital payments. It would be important to use a Certified Payments Professional for advice you can trust to set your account up to mitigate being overcharged.
- Be sure to get the opinions of your customers.
- Be sure to communicate the change to your customers and give ample transition time, especially for long time loyal customers.
Be sure to check your local and state laws regarding cashless businesses. There are places in the US that this would violate regulations and laws that have been established to promote fairness to an underbanked population.
Having a cashless business is a growing trend and many business owners are hopping on this trend. Be sure to consult an expert in payments to be sure your business get your desired results.
Using a Certified Payments Professional (ETA CPP) when setting up your merchant account is a way for you to know that you are working with an expert in the Payments Industry. These individuals are certified through the Electronic Transaction Association (ETA).
The ETA CPP program sets the standard for professional performance in the payments industry and is a symbol of excellence. It signifies that an individual has demonstrated the knowledge and skills required to perform competently in today’s complex electronic payments environment.
Discovering whether or not your sales agent is certified is as simple as vising ETA CPP Registry and inserting the sales agent’s name (We did find that some names needed to be entered in all caps).
Electronic Merchant Services is structured so that all accounts are managed by a Certified Payments Professional. If you are looking for a new merchant account or would like to have someone help you navigate the complexities of what you currently have in place you can reach us at info@emspayments.com or 208-273-5575.