The Best Small Business Merchant Services
Fee’s: 2.75% swipe rate
Processing Type: Swipe, Keyed, Invoicing, Online Store
Fee’s : 2.70% swipe rate
Processing Type: Swipe, Keyed, Invoicing, Online Store, and Recurring Payments
Click Here for their Recurring Payment Billing System
When it comes to finding the best small business merchant services you can spend/waste a lot of time trying to find the best program. As a Personal Trainer, I have a high dollar amount of charges, and few transactions. If your fitness business is Massage, you may have a little bit of both.
In my first year I tried a few different companies thinking I would find the best low rate. I did find a lower rate, but not much more for the amount of time I spent loading client information into the online portal.
And the bad part of that is…at the end of the year you have to track down all those payment companies to get the tax papers. Something I did not have fun doing!!
How much money did the better rate save me? About $10 a month! Not enough for the amount of time I had to spend on the back end.
Why Square and PayPal are the Best Small Business Merchant Services
In my Personal Training business I use Square and Pay Pal. I use both and their rates only vary by a few pennies.
Here are a few things to consider:
- Do you like your money accessible immediately into your bank account
- Do you like Pay Pal’s system and use it as a personal bank account
Personally I love having money available immediately in my checking account and use Square for my swipe charges with my smart phone or i-pad.
Square is easy:
- No minimum payment requirements
- No long-term contracts
- Fast and easy processing for your clients
- Fast deposits to your checking account
Pay pal is just as awesome as square and they offer the same benefits. However, Pay Pal has one thing you need for your fitness business success:
As a Personal Trainer I offer packages that work for my business and that are convenient for my clients. I have about 25% of my business set up on recurring billing.
What is recurring billing? It’s like a gym membership for my clients. Their account is charged the same amount on the same day every month.
Pay Pal’s Recurring Payment Plan is Awesome:
- You don’t have to worry about collecting from your clients each month
- You clients can budget for you and pay you at the same time of the month like other bills
- It helps with your client retention
That is by far the best part of Pay Pal!
I set my recurring billing up for the beginning of the month and never miss a gym rent payment!
When I began looking for this service I tried several providers and none stacked up to Pay Pal. Plus setting up Pay Pal’s recurring payment system is easy!
Cost: $30 per month plus different rate charges
The additional cost may seem like a lot, but remember:
Don’t jump over dollars to save pennies!
And….You can write it off at the end of the year anyway!
The Best Small Business Merchant Services Break Down
Pros: Deposits to your bank account
Pros: Recurring Billing will help client retention
Use both, and have a well oiled fitness business machine!
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