4 business models that benefit from payment integration
September 26, 2013

Large corporations aren't the only organizations that can benefit from credit card processing services. These days, most shoppers expect to make purchases through electronic systems when they visit big-chain retail stores and other established businesses. With smaller organizations, it's often a different story. Despite constant advancements in transaction technology, many small and medium-sized businesses have resisted the opportunity to enhance their services by investing in integrated payment systems. However, many of these tools are effective in driving revenue growth and increasing the level of convenience customers experience while interacting with their favorite brands.

Besides large corporations, here are four other types of businesses that can benefit from investing in services that offer the ability to accept credit card payments through multiple channels.

Small businesses with one brick-and-mortar store
Companies with only one or two physical locations often rely on local foot traffic to drive the majority of their revenue. However, only accepting cash can severely limit the number of purchases made on any given day. Credit card processing services can make transactions much easier for both employees and customers. According to Resource Nation, an online tool for small companies, business owners can also gain greater credibility in the eyes of their customers by incorporating electronic payment systems into their existing operations.

E-commerce businesses
On the other hand, small organizations that rely exclusively on the Internet to sell their goods can also benefit from payment integration technology. While credit card processing already makes up a large portion of payments in the e-commerce industry, these businesses can further enhance the customer experience by offering additional options, such as electronic check processing and mobile technology. Resource Nation said a more convenient payment experience often encourages customers to spend more money.

Medium-sized businesses with integrated online and offline platforms
Houston Chronicle said companies that sell their products both in stores and through digital channels can also experience greater revenue by utilizing electronic payment systems. Not only can these businesses offer their customers the ability to shop from home rather than visiting the actual store, they can also take advantage of opportunities to target customers in other regions.

Visiting service providers
Businesses such as telecommunications companies and home repair specialists that depend on the ability to accept remote transactions can also benefit from integrated payment systems. Whether it be through electronic check processing or mobile credit card technology, in-home service providers can use these tools to not only increase customer satisfaction, but to increase revenue channels in the long run, as well.

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