How Your Practice Benefits from Accepting Credit Cards
Imagine shopping and not being able to use a credit card. Then think about having to find an ATM, withdrawing cash, and carrying change.
As the owner of a tax preparation practice, you may know how accepting credit cards makes doing business easier for you and your clients. Believe it or not, though, many small businesses are still cash-only companies.
While implementing a system to accept credit card payments at your practice may seem overwhelming, consider these benefits:
- Easier, faster collections. Your clients likely have a credit card on hand to pay their outstanding fees. Without a credit card option, collecting payment is more difficult and time-consuming for you. When clients pay with paper checks you have to make a trip to the bank and then wait until the checks clear to be paid.
- Immediate payment. Accepting credit cards eliminates what can be a several week delay with invoices to be sent and payments to be received. When your clients can pay with their credit cards, you receive payment immediately and your business has improved cash flow.
- Automatic transaction history. Keeping track of credit card transactions is easy because electronic records of the transactions are automatically created through the processing service or device.
- Brings in new clients. Prospective clients may not have the up-front cash to pay your fees, but would appreciate being able to pay with a credit card (which they can later pay off with their refund). Accepting credit cards expands your potential client base.
Choosing the right payment processor for your practice allows you to take advantage of the above benefits and makes accepting electronic credit card payments seamless. For more information, please contact email@example.com
Read more articles from BluePay on TaxAct ProAdvance.
About Kristen Gramigna
Kristen Gramigna is the Chief Marketing Officer for BluePay, a credit card processing firm. She has more than 20 years of experience in the bankcard industry helping businesses succeed.