How Integrated Payments Can Help Your Business
By Julia Rapoch
MINDBODY aims to help you streamline and grow your business so you can focus on doing what you love. How does a MINDBODY merchant account support that mission? Here are the top three reasons why we think selling your services online with an integrated merchant account is one of the most valuable things you can do for your business:
1. Meet your clients where they are shopping in higher numbers: online. Check out these global stats on the growth of online and mobile shopping:
With a MINDBODY merchant account, you can give your customers the convenience of shopping for your products and services anywhere, anytime through the MINDBODY App or your online store.
- The World Payments Report estimates that global non-cash transactions will grow 10.9% by 2020. Singapore is estimated to grow 7.6%, while Hong Kong is predicted to jump 30.9% by 2020.
- 79% of American consumers say they shop online, 51% shop using their mobile device, and 15% buy something by following a social media link. (Pew Research)
- 80% of Canadian consumers shop online, but only 20% of small- and medium-sized businesses accept online payments—let your MINDBODY merchant account help you stand out. (Business Wire)
- 86% of online shoppers in the UK now make their purchases via their mobile device; a 39% increase from 2016. (Payments Cards & Mobile)
2. Make the most of your fully integrated payment solution with:
- Automatic payment processing for recurring monthly fees: Whether you offer unlimited yoga classes or bundled services, monthly memberships are a great way to grow your client base, increase client visits and stabilize your cash flow. The best part? MINDBODY will run these transactions automatically, so you can spend more time with your clients and less time reconciling their accounts.
- Automatic email reminders: MINDBODY will also send out automatic emails reminding clients when their credit cards and memberships are expiring, so there’s no interruption to their service, payment or your day.
- Payment reports: With these payment-specific reports, you’ll have all the information you need to track credit card and ACH/Direct Debit/SEPA transactions.
3. Streamline your check-in process.
- With an integrated payment account, you can accept payments ahead of time and securely store credit card details in a PCI-compliant environment. By accepting payments ahead of scheduled classes or appointments, fewer clients will need to pay when they arrive, making the check-in experience easier for your staff and your customers. Additionally, when clients pay for services in advance or you use their securely stored payment information for booking, they will be more likely to adhere to your late cancellation and no-show policies because they have financial skin in the game. That’s a win-win.
Are you ready to let an integrated merchant account help your business? See where we offer Payments and start your application. You can also talk to us directly by contacting our Payments Sales Team at [email protected].
If you would like to learn more about an integrated merchant account and its functionality, tools, and capabilities, please contact our Merchant Support Team at 877.755.4279 (US) or 001.805.546.2000 (International).
Although this blog offers business advice, this content is for general informational purposes only—it is not intended to replace the guidance of a licensed legal or financial professional. Information created by third parties that we may link out to or feature on our site is not endorsed by us and remains the responsibility of such third parties. MINDBODY assumes no responsibility for errors or omissions in the content.