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In today’s fast-paced business world, credit card processing is more essential than ever. Economic studies suggest that consumers increase their spending at a business when that business accepts credit cards. In fact, studies show that fewer than 23% of consumers prefer to use cash when making purchases. That means a business that can't accept cards forces customers to do something that goes against their preferences.
Card payments have become essential, especially for larger jobs or services (anything that costs over $100). Additionally, thanks to new HVAC billing software, payments collected are automatically batched at the end of the business day for next-day funding. No more pending deposits and waiting for funds to clear!
In the rest of this article, we'll lay out the case for using HVAC billing software to accept credit card payments.
Accessibility in the Field
If you have technicians in the field completing service calls and collecting payment at the time of service, your HVAC company will want to find a payment processor that enables your technicians to process credit card payments simply and securely. Credit cards give your customers more options. They can be used to take care of unexpected expenditures and additional services (helping your techs make upsells when appropriate).
Accepting credit cards in the field also eliminates user error and the risk that comes with collecting and carrying cash, making it the most secure way to immediately collect payment after a job is completed.Â
Navigating COVID-19 with Contactless Payments
As a result of the current COVID-19 pandemic, electronic payment processing and contactless transactions have basically become a must. HVAC billing software like Smart Service includes contactless invoicing and payment portals.
With this technology, your company can edit work orders as needed, then email an invoice to your customer after completing a job. You can send a digital invoice to them from the office or field, displaying a ‘pay now’ button that directs your customer to your company’s PCI-compliant payment portal where they can pay for your service. This helps keep your customers and employees safe.
Transparent Pricing
Does your existing or prospective payment processor see your company as a unique business or just another account? Do they make it difficult to understand everything they charge you for?
When considering a processor to use to process credit card transactions, cost represents a chief consideration. Find a good vendor with transparent, easy-to-understand pricing. Smart Service, for example, has partnered with the industry-leader CardConnect to offering transparent pricing, no matter your company’s size or structure. CardConnect offers customized and competitive pricing structures, including Interchange Cost (IC+). Interchange Cost Plus (IC+), both great pricing structures for most merchants.
Seamless Account Reconciliation
Good HVAC billing and payment collection software makes accounting more efficient, especially if your business already uses QuickBooks. The HVAC billing software Smart Service integrates with QuickBooks, keeping things in one system. Completed invoices and payment information gets sent to QuickBooks, which automatically marks your invoice as Paid. Thus, credit card payments are much easier to reconcile than cash or check payments. A merchant management portal is typically included with your merchant account. This portal includes comprehensive reports on transactions and funded batches, making reconciling your company’s deposits seamless.Â
Conclusion
Whether you accept payments online, in the office, or at the time of service, accepting credit cards will optimize your business’s operations and growth. If your HVAC company needs to make work orders, invoicing, and payment collection a more efficient process, look no further than Smart Service. Smart Service HVAC billing software allows for simple and secure payment processing and transaction management from the office and field.
