29 Jan

Clover System: What It Is and How It Can Benefit Your Business

Payment processing machines today don’t just allow you to accept your customers’ payments – they can also be helpful tools for gaining insight into your business and helping it run smoothly. At Merchants Bancard Network, we offer a wide range of payment processing machines, including Point of Sale systems like the Clover system. It’s a great machine with a variety of features that can benefit your business.

Suite of Products
The Clover system is designed to make running your business simple. It replaces your cash register, payment terminal, receipt printer, and barcode scanner with an integrated suite of products, including a mini Clover and Clover Mobile. The Clover system arrives payments-ready and with built-in basics so you can start getting set up right away. It’s a customizable POS that allows you to add hardware, software and accessories as needed, so the system can expand as you scale your business. Plus, they don’t charge per employee, so it’s a great option for your whole team to use. Clover also syncs to the cloud for added convenience, letting you access sales, reports and more from wherever you happen to be.

Accept Customers’ Preferred Payment Methods
In today’s technological world, it’s important to be able to accept more payment types than just cash; if you don’t, you’ll likely miss out on sales. Consumers now have a wide variety of options when it comes to making purchases, with payment types including swipe cards, EMV cards, contactless NFC payments (such as Apple Pay, Google Pay, and Samsung Pay) and more. Luckily, the Clover system allows you to accept all of these payment types as well as checks, cash and gift cards – all on a stylish looking POS.

Location Convenience
Perhaps your customers pay at a traditional cash wrap. Or, maybe it’s more convenient for you to approach your customers. Whatever the case, Clover has options that meet your needs. For example, the Flex Clover system is a hand-held, mobile payment device that goes where you go, rather than keeping you confined to a cash wrap. The Clover Mini is a miniature POS that can more easily fit into smaller spaces than a traditional POS system. Both options include a variety of helpful features and can accept many different payment types.

Photo by Blake Wisz on Unsplash

Helpful Insights
Clover’s analytics tools help you understand your business by providing real-time, actionable insight. Sales reports allow you to see helpful data like overall and hourly revenue, open orders, refunds and discounts, top-selling items and more. You can track sales across all of your locations, and access data anytime, anywhere using the dashboard on your laptop or mobile phone. End-of-day reports show you gross sales and refunds, tips and server totals, and credit card transactions per card type. You can even download your data or sync it to programs like Xero or QuickBooks.

Foster Positive Customer Relationships
Providing an excellent customer experience is crucial to getting your visitors to favor your brand and become loyal customers. Clover’s customer engagement tools enable you to gain clarity on customers’ preferences and build positive relationships with them. Clover lets you to build customer profiles from credit card sales, including transactions, contact information, and profile photos to give you a better understanding of who your customers are. To encourage repeat business, you can use Clover to create rewards programs that you can promote to your customers and social media followers. You can also set up strategic promotions using social media, text, and emails that include segmented lists and the ability to reach out to customers you haven’t seen for some time. Clover also lets you ask customers for their feedback and communicate with them one on one.

Gift Cards
Gift cards are an effective way to encourage repeat business from current customers and attract new customers to your store. They can also help you boost sales, as customers who redeem gift cards are likely to spend more than the amount on the card. With Clover, you can create your own digital or physical gift cards. Digital gift cards work on any smart mobile device, making them a convenient option for customers. If you prefer a physical card, you can choose from Clover’s 70+ design templates or upload your own for a custom branded look. Both the digital and physical gift card options are more secure than old-school paper certificates, which can lead to fraud. With Clover, you can issue store credit directly from your POS and track gift card sales and redemptions via the reports feature.

As effective as the Clover system is at making running your business a breeze, it doesn’t stop there; Clover incorporates a variety of applications for even more capabilities. Clover’s included POS apps help you schedule shifts, seat guests, manage wait staff, offer discounts, and more. You can also use popular apps like Yelp, Payroll and Time Clock and sync your system with services like Shopify, QuickBooks, and Woo. Thanks to Donors Choose, Clover also helps you give back to your community by letting you give customers the option to round up their purchase total, with the donations going to local schools.

Safe and Easy to Use
Clover makes payment processing safe as well as simple. Clover offers safety features like full encryption on a PCI-certified system and fraud protection up to $100,000. In addition to being able to run credit card transactions in seconds, Clover allows you to set up tax rates at once and apply them automatically. You’re also not reliant on WiFi in order to take payments; offline sales will process when you reconnect. Clover is convenient for your customers as well, giving them more control over tipping and receipt options.

There are many factors to running a successful business in this day and age, but the importance of an effective payment processing machine shouldn’t be overlooked. Clover not only makes it easy to accept your customers’ preferred payment methods, but also reports important data to help you be strategic in your decision making while growing your business.

Want to learn more about the Clover system and how it can benefit your business? Contact us today!

19 Jan

Scaling Your Business with Merchant Services

Watching your business grow is an exciting time, but it also brings new challenges. How will you ensure you have enough inventory? How will you fulfill orders? Who will help run the busy store? There’s a lot to consider when scaling your business, but don’t forget the positive impact that merchant services can make on your efforts.

Merchant services is about more than just helping you accept payment from customers; with the right machines and programs, merchant services can help you scale your growing business.

Accept a variety of payment types
While cash is still used to make purchases, consumers have also adopted more modern ways of paying for goods and services, such as credit cards, gift cards, Apple Pay and Google Wallet, and more. As your number of customers increases, being able to accept a variety of payment types will be even more important. Don’t miss out on sales due to outdated machines. Upgrade your payment processing equipment based on your growing company’s needs to ensure you’re prepared to accept your customers’ payments. Remember to also consider which type of machine is best for you and your customers, such as retail, wireless, mobile, and Point of Sale machines.

Run reports
Keep tabs on your business’ activity using helpful reports that give you clearer insight into sales trends, your finances, and more. For example, employee reports can show you each employee’s sales, refunds and more. Items reports tell you which items were sold and how many. Payment reports show you your paid transactions and important details. You can even keep track of your net revenue, refunds, discounts, and more. These reports share important information to help you adjust your strategy and tactics accordingly to continue to grow.

Manage inventory
As you scale your business, it’s important to ensure you always have the right item types and quantities in stock to meet consumer demand. Whether you’re a retail merchant or restaurant, the right payment processing machine can help you keep track of and manage your inventory. You can enter various items into your inventory list along with details like price, UPC, SKU, and tax information, to name a few. You can also create categories, manage ordering and automated ordering, and more.

Manage customer relationships
Providing an excellent customer experience is vital to building a loyal customer base. Offer a more tailored customer experience and increase customer retention rates by using machines that allow you to collect and manage helpful customer data. This may include contact information, marketing preferences, order details, feedback, and more.

Reduce fraud and chargebacks
Giving customers the ability to pay with credit cards is great for their shopping experience as well as your business, but it does carry some risk. Credit card fraud can lead to chargebacks, taking a toll on your finances. Luckily, the security features built into modern payment processing machines can help prevent these issues.

Be sure to use a terminal that accepts EMV cards – also known as chip cards – which store their data on integrated circuits. This chip feature makes the card more secure than traditional swipe cards and helps prevent fraudulent transactions and chargebacks. You’ll be able to focus more of your time, energy and finances on growing your business rather than paying fees.

Photo by Blake Wisz on Unsplash

Increase customer spending
Your business can thrive even more by offering gift and loyalty cards. These cards help promote increased cash flow and consumer spending, as well as increased repeat business from your current customers. Gift cards, for example, are more secure and desirable than traditional gift certificates. They support credits, refunds, rebates and incentives, and your business benefits from prepaid services as well as unredeemed cards.

Similarly, loyalty cards are effective marketing promotional and customer retention tools. They incentivize consumers to spend more in order to earn rewards, and conveniently allow customers to access online data about their rewards and point balances.

Take advantage of programs
As you scale your business, you’ll likely need money for things like hiring additional employees, purchasing new technology, expanding your inventory, and maybe even opening a new or larger brick-and-mortar location. Using various merchant services programs can help you be sure you’ll have the finances necessary to continue growing your business.

  • Dual Pricing Program: You can potentially save thousands of dollars each year with this program. Our dual pricing program is a no-risk program that allows you to eliminate your monthly interchange fees by passing them on to customers who pay using cards rather than cash. When customers pay with cash, they – as well as you – benefit by not having to pay fees.
  • Small Business Loan: If you’re considering an expansion or further purchases for your business, this is a great program to consider. We offer cash advances against future sales and allow you to pay us back with a percentage of your credit card transactions. There are no payment books or due dates; you simply sign up for the cash advance program and, after approval, receive your funds.
  • Support for high-risk merchants: If you’ve been given the label of high risk, this may be related to your business or industry being deemed as risky, you run an offshore business, your marketing is raising some flags, your credit score may be low, or a variety of other reasons. We will provide a free assessment of your business and create a plan that will allow you to take credit card payments. Merchants Bancard Network will help you get your business out of the “high risk” category and into the “successful” one.

If you’re scaling your business, know that you have a team of merchant services experts ready to help. Merchants Bancard Network is an established provider in the payment processing industry with more than 30 years of experience. We’ve earned the respect of our clients as we move forward with trends and technology without disrupting our superior service.

Want to learn more about the payment processing equipment and programs we offer and how they can help your growing business succeed? Visit our website!

9 Jan

5 Ways to Protect Your Business After the Holiday Season

The holiday season can be a wonderful time of year, but businesses still face risks like fraudulent charges, fraudulent returns, chargebacks and more. Protect your business with these five tips.

Check your security
Be proactive and make sure your security equipment is properly working. Test your alarm systems, locks, surveillance cameras, and any other security systems you have in place. For online businesses, make sure your antivirus software is up to date.

Use terminals that accept EMV cards
Also known as chip cards, EMV cards store their data on integrated circuits. This makes payments more secure and helps prevent fraudulent transactions and chargebacks. If you accept EMV cards, make sure you use the chip feature rather than swiping – even if the customer asks – as this could be a fraudulent card. Be sure to have updated payment processing equipment that is able to accept EMV cards.

Photo by Carli Jeen on Unsplash

Train your team
If you have employees, train them on how to use the payment processing equipment and refresh their memories on policies regarding check, credit, debit and gift card payments. Gift card returns are a common way to get away with fraud. Help ensure that transactions are completed properly and reduce your risk of fees.

Avoid chargebacks
Verifying the customer’s information during online transactions is an important step in avoiding chargebacks. Try using an Address Verification Service (AVS), which compares your customer’s address and zip code to the information on file with their bank. A Card Verification Value (CVV) match is also helpful, as it requires customers to enter their CVV – the 3-digit code on their card; this ensures the customer actually has the card in their possession.

Returns are an easy way that individuals can bring back items and have funds deposited onto their card. Be aware of returning items to the same card number that the transaction was ran on and checking the name of the cardholder which will print on the receipt. Gift card returns have a higher fraud rate due to their lack or traceability, be sure to check receipts, and customers info if anything has to do with prepaid debit or gift cards.