Written by Scott FairTuesday, 05 April 2011 10:38
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I was recently at the Feed Store where they had installed Free POS. They are using the QuickBooks Point of Sale Merchant Service for credit and debit card processing, and have recently added GoPayment.
There were a couple of reasons for going with the GoPayment “Low Volume” plan. SInce the plans has:
- No monthly fees
- No Setup Fees
- No Cancellation Fees
- No long term contract
It made sense to add the service. They can process credit cards if their regular system suffers an outage, so it is an excellent backup plan. And, they have started doing feed deliveries. With GoPayment, they are able to accept payment on the spot, before the feed is unloaded! No more “taking down the card number and running back to the office” only to find out there is a problem. No more ” We will mail you an invoice”, then waiting for the check to arrive. Everything is ready to go, and the payment is on the way before the first bail of hay hits the ground! And the receipt can be emailed, or texted to the customers phone. Done Deal!
This is a pretty drastic change from the way this type of business was run in the past. It used to be that the time between the delivery and the payment could be weeks. If you are a business owner, that means you are basically loaning your customers money, money that cannot be used to get more inventory or pay bills while you wait. Now, the payment is on the way to your bank! Once deposited, you have the funds you need, all from the addition of a single service.
Todays economy is ROUGH! Every penny saved, every minute saved, and every process that allows the money to come in faster is a huge advantage. It can mean the difference between being open, and closing the doors. It’s your money, and I am sure you can use it now, rather than loaning it to your customers on the hope that they will pay quickly.
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