Three Reasons Mobile Processing Can Boost Your Tax Prep Business
You see them on any office desk, restaurant table, or kitchen counter – mobile phones and tablets. People don't like to feel disconnected from their family, friends, or businesses, so their personal devices are constantly in view or with them at all times.
So why not use your device to accept payments for your tax prep business? Whether you prepare taxes at your office or travel to meet customers at their businesses or homes, using your phone or tablet to accept credit card or ACH payments benefits you in three key ways.
Lowers your processing costs
Accepting payments on your mobile device, something that you have with you all the time, means that you no longer have to rent magstripe readers or terminals. Not only will you spend less money on ink and paper, but you'll also be taking a "green” initiative – saving the environment and putting some more green back into your business.
If your processor offers mobile payments, they'll have a downloadable payment app or access to a virtual terminal where you can hand key credit card or ACH info, or swipe cards using an encrypted reader that plugs conveniently into your device.
Improves customer convenience
Most people use credit or debit cards to pay for just about everything. By using your smartphone or tablet to accept credit cards during a client meeting, you make it easy for your clients to pay you on the spot using the method of payment they're most comfortable with.
Additionally, clients will feel safer knowing their credit card number is not on a piece of paper unauthorized people might access.
Saves time and reduces Days Sales Outstanding (DSO)
By the time you mail an invoice and wait for payment, you could be looking at 30+ days until you actually get paid, not to mention the time to go to the bank and deposit checks and wait for them to clear. Especially because your tax practice is a seasonal business, you need to get your money quickly.
Swiping or hand-keying credit card or bank account information directly into your mobile device is fast, simple, and secure. Plus, depending on your payment provider, transactions can be integrated into your preferred accounting software for ease of reconciliation.
BluePay can help make mobile processing for your tax prep business a reality. Its mobile payment solution is available for all Apple and Android devices, and its payment platform integrates to a wide variety of accounting systems. BluePay also provides seasonal merchant accounts.
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.