If you are running a business and are having problems with credit and debit card transactions, then it might be the perfect time for you to apply for a next day card processing. You see, gone are the days where cash is the primary mode for payments for purchases and sales. Today, written checks can be used to pay for the supplies you bought from your trusted suppliers and credit cards and debit cards can be used as payments for your sales. In today’s fast-paced lifestyle, carrying a lot of cash can cause much burden and delays. Thus, credit and debit cards and other plastic cards that are electronically connected to a person’s funds are the current trend. However, the problem with credit and debit cards especially for business owners is that the process and verification of the transaction can take at least 3 days to 1 week before the business can receive cash. And we all know how important cash flow is for a business. The faster we receive cash, the faster we can replenish and improve our business, the faster we can pay our dues and avoid interest and additional charges. Furthermore, cash is also used to pay overhead and other administrative expenses that are vital for the business operation.
If you want to avoid all these problems and risk the failure of your business, then you should definitely check out a Next Day Card Processing merchant and start getting your money the next working day. To further elaborate, below are 3 ways how a next day card processing merchant will help your business.
With next day card funding, you would be able to speed up the processing and verification of your credit and debit card transaction. Next day card funding works by the merchant company, of which you applied for a next day card funding, directly verifying the business transaction between your business and the customer’s credit or debit Card Company. After which, the merchant company will deposit the money in your business bank account making the process a lot faster. The previous waiting time of at least 2 days has been shortened to at most 1 day with next day card processing. Furthermore, with next day card processing your business will be able to accept many kinds credit and debit cards.
If your business is able to accept many kinds of credit cards thanks to next day card processing, then it goes without saying that your sales will also increase. There is a study that the turnover of credit sales is directly proportional to your sales, therefore, the faster you get paid for credit transactions, the faster you will be able to sell and replenish your inventories.
Reduce risk of Fraud and Scams
With next day card processing, you are significantly reducing the risk of fraudulent credit cards. We all know how scammers and thieves use fake and stolen credit cards for their purchases. And with the traditional methods where we wait for at least 2 days, it is already too late by the time we discover the scam. However, with next day card processing, you can quickly learn of the scam and implement your countermeasures at the earliest time possible.