Tailor solutions to provide the most value to your clients and to increase your sales.
A lot has changed since 2020. People are using totally new ways to purchase and interact with businesses, which means merchants have no choice but to adapt or lose sales. Many small business owners are still trying to decode the post-COVID consumer and the technology and services that keep shoppers coming back. All of this creates a promising new opportunity to sell merchant services by solving your clients’ biggest headaches, starting with a purpose-built payment solution that checks all the right boxes.
However, the list of payment capabilities that make up the perfect solution for a client may be unique to their business, their market, and their customers. Help merchants choose the best option — or combination of payment types — for their companies, including:
EMV payments.
EMV deserves credit for helping businesses improve payment security since the standard arrived in the U.S. in 2015. That’s because EMV, the shorthand name for Europay, Mastercard, and Visa, relies on technology that creates unique transaction codes — and that’s almost impossible to replicate in a counterfeit card. When you’re selling merchant services, remind clients they open themselves up to costly fraud, chargebacks, and other risks if they stick with traditional swipe readers instead of modern EMV-friendly terminals where people can dip their chip-enabled cards to pay. Any merchant that operates a brick-and-mortar store should consider accepting EMV cards as table stakes for the ability to enhance customer experiences and security.
Contactless payments.
Contactless payments got a huge boost during the pandemic as people actively looked for ways to avoid touching anything that might harbor germs. A close cousin to EMV, contactless card or mobile wallet payments use the same technology and security. This payment technology allows people to simply tap or wave their card or smartphone near a near-field communication (NFC)-enabled terminal for a touchless approach to transactions. Research shows the value of the NFC market is on track to surpass $20 billion by 2026 for a CAGR of 11.6%, showing this way to pay is definitely on the rise.
BNPL solutions.
When you’re selling merchant services and listening to client concerns, you’re more than likely to hear them ask about buy now pay later, or BNPL, one of the hottest trends in payments today. In 2026 a massive chunk of the world’s population is expected to spend nearly $1 trillion using BNPL services like PayPal, Affirm, Klarna, and Afterpay that let people split payment for their purchases into more manageable installments over time. One survey says more than half of Americans had already used BNPL by the summer of 2020 to help stretch their budgets and afford to buy things that might be unattainable if they had to pay the full price all at once. Data suggests BNPL users are less likely to ditch their online shopping carts, as the pay-in-four option convinces many consumers to spring for that big-ticket item, a fact that is sure to get your clients’ and prospects’ attention.
Electronic invoices.
Cash flow is vital to your clients. When you sell merchant services, it makes sense that your focus might be on the tech that helps clients cater to customers. However, don’t forget about the options that serve their back office and bottom line. The switch from paper to digital invoices streamlines processes, decreases the labor needed to manage accounts receivable, and gets money into their accounts faster after delivering products or services.
Hosted checkout.
Business owners nervous about managing online payments on their own websites have a less intimidating option. Offer hosted checkout as part of your pitch for ecommerce. This allows merchants to sell products through their own website and then direct shoppers to a page hosted by the payment provider to handle the security-sensitive checkout process and the related PCI-compliance burden.
ACH payments.
Bank account payments are another service to bring up when you’re working to sell merchant services. ACH payments that transfer funds from one bank account to another come with lower merchant fees versus credit cards while giving people more options for how they can pay.
Virtual terminal.
Virtual terminals belong in every conversation about payments. With this technology, any browser on any device can become a payment terminal taking both card-present and card-not-present payments over the phone, online, or in person.
What’s the perfect mix for your prospect?
Your clients aren’t one-size-fits-all, so don’t make the mistake of attempting to sell merchant services by creating a standard payments package that you pitch to every client. You’ll have more success if you sell merchant services by paying close attention to your business owners’ most significant challenges and coming up with a customized offering tailored to their unique needs.
Start by partnering with a leading payments company. At NAB, our team of experts can help you pinpoint the perfect payment solutions for your merchants and provide advice for closing more deals.
Contact North American Bancard today to learn more.
