Adèle Manseau | Desjardins Group
These days, you rarely see customers paying with cash. The question is no longer if it's a good idea for merchants to accept card payments, but rather when, why and how they should do it.
Manh-Linh Tran and Sabrina Larivière, Monetico payment solutions specialists with Desjardins, spoke with us and answered these questions.
Customers won't have to wait as long during transactions and can pay in different ways: at the counter, at their table, online or even with their smartphone if you offer that option. In short, it's always a practical solution for them. Today, customers expect to be able to pay with their card--it's part of the experience, just like the services offered or the advice they might receive.
- the time spent on each transaction, even when your sales volume increases
- the risk of error when handling cash
- the energy spent on accounting, since transactions are automated
- the time it takes to access your money--amounts are deposited into your account during the next business day.
- Contrat - Even though all of the payment card networks have adopted the Code of Conduct for the Credit and Debit Card Industry in Canada, it's important to have a solid understanding of your contract: its duration, subcontractors, inclusions and exclusions, transaction fees, exceptions, etc. Get everything in writing--if something sounds too good to be true, it usually is.
- Termination - We typically don't enter into unions thinking about how they'll end, but there's always a chance it could happen! The same is true for business relationships. It's a good idea to be aware of the termination conditions for your contract, in case your experience isn't satisfactory.
- Customer service - Prices might be the same, but the service you get makes all the difference. In addition to equipment reliability, the real test lies in the services you receive when your equipment breaks down or a technical problem occurs. It's smart to speak with other merchants using these services so you can gauge their overall satisfaction. Remember, it's always better to be safe than sorry...