All with credit card processing
Pest control and other field service businesses may be considered timeless industries, providing homeowners with necessary services seemingly forever, but that doesn’t mean they can’t benefit from implementing the latest technology. Just like pest control operators recognize the benefits of innovative tools like software, smart traps and upgraded equipment, these businesses must embrace new payment options if they want to remain competitive and increase their revenue. By allowing customers to pay with credit and debit cards, field service businesses can improve their customer experience, boost sales and capture more of their local market to out-perform competitors.
The most obvious benefit of accepting credit and debit card payments is that customers can easily and quickly complete their transactions. This minimizes the need to handle cash or check payments, which can be slow and cumbersome. Customers also prefer the convenience of paying with credit and debit cards.
In fact, a resounding 85% of field service customers prefer to pay for those services with a credit card. Using a card means they don’t have to worry about carrying large amounts of cash or waiting for checks to clear. They also feel more secure knowing their payment information is encrypted.
Accepting credit and debit card payments from customers often translates to higher ticket sales during each individual service appointment. On average, customers paying with a card spend 15% more per service order; it’s hard to imagine any savvy business owner turning down a 15% increase in sales. Among small businesses, 83% of those who accepted credit cards saw an increase in their sales figures.
While that sort of growth and increase in revenue is undeniable, some field service businesses resist accepting card payments due to service fees. It’s true that no one likes fees; it’s equally true that they’re a cost of doing business, just like fueling your vehicles or refilling chemicals. Card processing fees also cover a number of perks, including:
- Protection against fraud
- Customers’ card rewards programs (which encourage higher spending)
- The ability to collect payment from any channel
Considering all they cover, these fees are a small price to pay — and doubly so when you consider not only the higher spend per service that comes with accepting card payments, but also the uptick in customer loyalty.
When businesses provide customers with the convenience of storing a card for payment on file, they tend to fall into a set-it-and-forget-it mindset. The convenience of not having to pull out their card and input all their details encourages loyalty, which translates to even higher revenue: increasing customer retention rates by just 5% increases profits by 25% or more.
Building on the convenience of card on file and autopay, WorkWave Payments allows PestPac users to take advantage of Account Updater. By automatically collecting updated payment information when a card on file nears its expiration, Account Updater significantly reduces unintentional churn and outstanding payments.
Overall, it is essential for field service businesses to accept credit and debit cards if they want to maximize their revenue. Not only does this provide customers with more convenient payment options, but it also opens up new business opportunities and encourages higher customer retention. To streamline your payment processes today, get in touch with a WorkWave Financial Services professional or visit us at workwave.com/financial-services/payments today.