As an adult merchant, you’re ever looking for ways to increase sales and grow your business. But did you know using credit cards for adult merchant payments can actually work against you?
Here’s a look at the downsides of credit cards for adult merchant payments and how ACH payments can help you increase sales.
Why Credit Cards Don’t Suffice
1. They eat into your profits
The high costs of credit card processing can eat into your profits. When you process a credit card transaction, you’re charged a fee by the credit card company.
That fee is typically around 2-3% of the total transaction amount. So, if you’re selling a $100 product, you’re paying $2-$3 just to process the credit card. That money could go into your pocket, but it’s going to the credit card company.
In addition to the fees you pay to process credit card transactions, you also have to pay fees to accept credit cards. These fees can include an annual fee, a monthly fee, and/or a per-transaction fee. All of these fees can add up, and they can take a big chunk out of your profits.
2. Transaction risks
Another downside of cards is that they can be risky. You’re on the hook for the charge if you process a credit card transaction and the customer doesn’t pay. This can lead to chargebacks, which can cost you even more money.
The Power of ACH
1. Grow sales
ACH payments can help you increase sales and grow your business without the downsides of credit cards. ACH payments are electronic transactions that are made directly from the customer’s bank account to your merchant account. No credit card fees exist, so you keep more of your hard-earned profits.
2. Low payment risks
ACH payments are also low risk. You’re not on the hook for the charge if a customer doesn’t pay. This means you don’t have to worry about chargebacks.
3. Faster payments
In addition, ACH payments are fast. Customers can pay and see the funds in your account in just a few days. This can help you with cash flow and keep your business running smoothly.
In a nutshell
If you’re looking for methods to increase sales and grow your adult business without the downsides of credit cards, ACH payments are the way to go.