More than 180 million credit card transactions are processed each day in the US. With the rising number of pets needing veterinary care, it’s clear offices should offer credit card payments for services.
But, selecting a payment process solution can be overwhelming. Which payment solution provider has the lowest payment processing fees? Many people are unsure of how credit card processing works in general.
Keep reading to learn more about merchant services for veterinary practices. And the benefits of processing credit card payments.
What Are Merchant Services for Veterinary Practices?
There are many merchant services out there for veterinary practices. But, what exactly is a merchant service? Merchant service providers help businesses to process credit card transactions.
When someone makes a payment with a credit card, the merchant service you select will transmit the information and send it to the processor. Once the processor has the transaction, it is sent to the bank to acquire the money.
It can be a complicated process with many moving parts. You can learn more about it here.
Benefits of Credit Card Processing Solutions for Veterinarians
Offering credit card payment options for your customers can increase sales. Cashless transactions are popular in today’s digital world. Your business needs to have credit card processing to remain competitive.
Veterinary payment processing can help a lot of customers. Many times, pet emergencies are costly. Having the option to use a credit card can save many pets’ lives when their owners don’t have the cash.
- Happier customers
- Simplified payments
- Mobile payment options
Getting merchant services can help your business grow. Learn more about each additional benefit below.
More Payment Options Means Happier Customers
Your business risks losing customers if you don’t offer credit card payment options. What types of payments your practice takes could be the deciding factor for many customers.
When you have merchant services for veterinary practices, payments are approved or denied right then. You don’t have to worry about making payment plans that may or may not be paid. Or getting a bounced check in a few days.
When you have credit card processing software, you often get a clearer view of your business operations. You can easily generate sales reports and see other metrics. Not to mention, the streamlined and simplified process increased efficiency!
Many merchants offer mobile payment options. This is great for on-the-go customers. Or if you want to offer a more secluded way to pay for the saddest patient visits.
Mobile payments are another form of flexibility that can lead to many wins for your veterinary practice.
What to Look For in a Payment Processor
How do you decide on a payment processor? What should you look for when researching companies? Here are a few key considerations for when you select a credit card processing merchant:
- Do they have transparent fee schedules?
- Do they offer competitive rates?
- Are they PCI compliant?
- What types of terminals/point-of-sale systems are available?
- How can you get help if needed?
- Contract conditions and termination
Discover why each of these topics is important to know before selecting a merchant service provider.
Many times, businesses enter agreements and the service provider has hidden fees. When selecting a merchant service provider, you want to make sure the fee schedule is transparent and easy to understand.
Comparing merchant service providers will make sure you are getting the best rates. And this could lead to a lot of cost savings for your veterinary practice. Some rates in the contract with a payment processor are negotiable, so understand what fees you can and cannot try to lower.
PCI compliance is a big deal to protect customer data. If the processor you partner with isn’t PCI compliant, it could lead to ramifications for your business. Be sure the companies you research are PCI compliant and can tell you what security measures are in place if asked.
Choose the Right Terminal/Point-of-Sale Machine
What terminals and point-of-sale machines does the processor offer? Will it fit in with your veterinary practice? For example, if you have a mobile vet truck, you’ll need mobile payment options.
It’s important to consider your business setup when looking at your options. There are many types of systems available for businesses. You just need to make sure the company you choose offers the best option for your practice.
Do they offer 24/7 customer service? How can you contact them? This is especially important for veterinary practices that offer emergency services.
You don’t want to have your system not work during a 3 a.m. emergency. Knowing exactly how they support their customers will give you a good idea of what type of company they are.
And you can read customer reviews to see what others say.
What Steps to Terminate? And What Are the Contract Terms?
Understanding the type of contract you are signing is important anytime you enter an agreement. Make sure the terms are clear on what service is provided, how much it costs, and how long it lasts.
And find out early on what the conditions are if you want to terminate the agreement. Are there fees associated? Will you have to buy out the contract?
Learn More About Reliable Veterinary Credit Card Processing Solutions
Are you still unsure of what merchant services for veterinary practices are best? Have you researched and can’t make a decision?
Let us help you! You can schedule a demo to see our veterinary payment processing solution in action. Or schedule a conversation to learn more about our services.
Contact us today to get started!