Three Key Factors to Look for in a Payment Processing System
What could integration, reliability, and support mean for your business?
Somewhere around 80% of consumers today prefer to pay for goods and services by credit card. It’s no different when it comes to paying for their vet bills. But in order for your practice to offer this fast, efficient payment option to clients you’ll need a reliable payment processing system first.
While upfront cost and transaction fees may seem like the most obvious consideration when choosing a payment processor for your clinic, there are other important factors to think about. This includes the important ability to integrate with your current practice management software, the reliability of the system, and the level of support you can expect from the system provider.
If you’re thinking about adding credit card payments or at the point where you’re evaluating providers, keep reading to find out why these three factors are so important.
Integrating your payment processor with your practice management software will definitely help you save time and make your practice more efficient.
When taking payment through a card terminal, payment information runs simultaneously through your practice management software and the payment processor. This removes the need for manual data entry, reduces potential errors from incorrectly entered information, and saves you time at end-of-day reconciliation.
And, payments will automatically be attached to your patient’s electronic file meaning their record is always up-to-date.
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The average veterinary practice processes at least 500 debit or credit card swipes per month. So, in a busy veterinary practice, once you make the decision to invest in an integrated payment processing system, you want it to work all the time.
When researching potential providers make sure you ask for data about system downtime, how many outages occurred in the past year, what caused those outages and how long it took to get the system back up and running. This will give you a good indication of both the reliability of the system and the skill and dedication of your provider to get it back up and running.
Finally, while most payment processing systems are relatively straightforward to set up and operate, it’s inevitable that you’ll need help at some point. This could include the need for tech support, or information when the system goes down. It could also include needing to refund duplicate transactions, track down a missing payment or troubleshoot connectivity issues. So, look for a payment provider that offers support around the clock.
As well as support being available when you need it most, it should be offered by staff who are both knowledgeable in their system and in integrations. This means they can help you with equipment troubleshooting as well as any issues you may run into regarding payment processing or system integration.
A good payment process system will prove to be an invaluable piece of technology for your veterinary practice, helping you provide a better service for your customers, save you time, and streamline payment processes. So, take some time to do your research and make sure the provider you choose will meet your needs completely and tick the three key boxes.
Learn more about integrated Payment Processing from Covetrus by completing the form at the top of the page.