Payment issues faced by merchants in Canada:
Handling a business may seem to be easy but it isn’t. Merchants and businessmen face dozens of problems each day and finding solutions are necessary to keep their business afloat. The issues may vary from supply chain management to payment transactions. This article is about the occurrence of issues in the payments part of the business and we at T360 pay are there to help you in solving these issues.
You may face multiple payment issues but some of the main issues are highlighted below :
All-in-one payments support :
Canada houses a large number of expatriates, tourists, and immigrants. The diversity of nationalities of people creates the need for acceptance of a huge number of credit cards, debit cards, digital wallets, Etc for successful acceptance of payments. So to be able to serve the maximum number of types of payments, you need a payment terminal that has all-in-one payment support to accept diverse payment types and methods.
High processing fee :
There are multiple points of sale system providers in Canada and many of them may cost you a high processing fee to process your transactions. The processing fee is mostly calculated in percentage. For small transactions, the charges may seem less but once you will be sending payments to your suppliers or receiving large payments for bulk orders, a high processing fee will be a huge burden for you.
Weak Customer support:
The payment terminal company that you choose should be having efficient and fast support. Fast and reliable customer support is important for your business because if your payment terminal is down it will pose a big hurdle for your business. Your payment terminal should have maximum uptime so that you can seamlessly run your business.
Routing vendor payments :
Your business may be having multiple suppliers or vendors who send you goods or services on a regular basis. Sending and managing these regularly to your supplies may turn into a messy hassle for you. When the number of your suppliers increases, keeping a track of such payments becomes tough. A payment terminal that helps you manage regular payments in an easy way will be of huge help to your business.
Numerous customers will trust you with their personal data while doing a transaction on your payment terminal. Keeping this data safe is your responsibility so that they don’t fall prey to fraudulent calls and scams in the future due to leakage of data from your hardware. You need a payment terminal with high security and strong encryption to keep your customers safe.
Your business may be using multiple devices to run with ease such as printers, barcode readers, biometric scanners, laptops, Etc. Connecting these devices with each other for seamless data flow is extremely needed. Your payment terminal should have the capability to connect with multiple devices so that it eases your business process otherwise you may have to do those processes manually which may need hiring an extra employee thus leading to an increase in overheads.