When running a nail salon, you want to ensure that your customers can pay for your services quickly and conveniently. The goals for a nail salon payment system are a speedy checkout, automated tipping tools, and convenience. Your payment capabilities should ensure customers keep coming back.
Nail salons need beautiful aesthetics for their payment processing systems combined with great efficiency. Their payment processing software must be able to accept all forms of credit and debit as well
Increase Business By Accepting Credit
The nail salon industry is predicted to grow at a rate of 4.5% over the next three years, and reach $1.2 billion by 2024. Many of those customers are paying with credit, especially now that the pandemic has made some people wary of using cash.
Credit card processing is an essential feature for any hair and nail salon that wants to stay competitive. Eighty percent of customers prefer to pay by credit card and you may lose out on business when you refuse to accept credit card payments.
When you give your patrons the ability to easily pay by credit card, people are more likely to spend more on each purchase. Consumers will spend up to 100% more when paying by credit card. Your credit card customers are the ones that are more likely to make impulse purchases and add on extra services.
How Credit Card Processing Works
The transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account.... begins when the cardholder presents their credit card information to the merchantA business that accepts credit cards for goods or services.. The merchantA business that accepts credit cards for goods or services. requests authorizationThe request to charge a cardholder for goods or services. Authorization must be settled in order to post the authorization to the cardholder’s account. If not processed within a certain time frame authorizations will be cancelled. The time period is usually from 3-7 days.... of the payment through their processing software. The payment processorA large data center that processes credit card transactions and settles funds to merchants. A processor connects to the merchant on behalf of an acquirer via a gateway or POS system to process payments electronically. Processors edit and format messages and switch to bankcard networks. They provide files for clearing and settlement and other value-added services.... transmits the request to the card association. The card association then sends a request to the issuing bank where the request is approved or denied. The card association sends the approval to the payment processorA large data center that processes credit card transactions and settles funds to merchants. A processor connects to the merchant on behalf of an acquirer via a gateway or POS system to process payments electronically. Processors edit and format messages and switch to bankcard networks. They provide files for clearing and settlement and other value-added services..... The processorA large data center that processes credit card transactions and settles funds to merchants. A processor connects to the merchant on behalf of an acquirer via a gateway or POS system to process payments electronically. Processors edit and format messages and switch to bankcard networks. They provide files for clearing and settlement and other value-added services.... sends the approval to the merchantA business that accepts credit cards for goods or services.. The merchantA business that accepts credit cards for goods or services. then sells the goods or services to the customer. This happens within seconds at the checkout.
Once the approval completes, authorizationThe request to charge a cardholder for goods or services. Authorization must be settled in order to post the authorization to the cardholder’s account. If not processed within a certain time frame authorizations will be cancelled. The time period is usually from 3-7 days.... begins. The issuing bank ensures the transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account.... is valid. The credit card association requests payment authorizationThe request to charge a cardholder for goods or services. Authorization must be settled in order to post the authorization to the cardholder’s account. If not processed within a certain time frame authorizations will be cancelled. The time period is usually from 3-7 days.... from the issuing bank. The bank approves the transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account.... that the cardholder makes. The issuing bank sends the approval to the merchantA business that accepts credit cards for goods or services. bank. At the end of the business day, the merchant’s POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. terminalThe device by which a transaction is transmitted to the acquiring bank. batches and sends the authorizations for processing.
The next step is settlementThe process of transferring funds for sales and credits between Acquirers and Issuers, including the final debiting of a cardholder’s account and crediting a seller’s account. when the merchantA business that accepts credit cards for goods or services. receives the funds. The payment processorA large data center that processes credit card transactions and settles funds to merchants. A processor connects to the merchant on behalf of an acquirer via a gateway or POS system to process payments electronically. Processors edit and format messages and switch to bankcard networks. They provide files for clearing and settlement and other value-added services.... sends the batchA collection of credit card transactions saved for submitting at one time, usually each day. Merchants who do not have real-time verification systems must submit their transactions manually through a POS terminal. Batch fees are charged to encourage a merchant to submit his or her transactions at one time, rather than throughout the day.... to the card association. The card association sends the transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account.... information to the issuing bank. The issuing bank charges the cardholder’s account for the authorized payments.
The issuing bank charges the interchangeThe exchange of debit and credit transaction data between merchant banks and cardholder banks based on an agreement (governed by BASE II [VISA] or INET [MasterCard]) between the participants. The fees charged by the Issuer to the Acquirer. fees for the card association and transfers the rest to the merchantA business that accepts credit cards for goods or services. bank. The merchantA business that accepts credit cards for goods or services. bank then distributes the money to the merchantA business that accepts credit cards for goods or services. account. Finally, the issuing bank posts the transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account.... to the cardholder’s account.
As you can see, accepting credit cards is rather complex. Since there are several parties involved, partnering with the right payment processing service can help your business navigate the difficulties that can arise with accepting credit card payments.
Payment Processing Options For Your Salon
Nail salons are merchants with many customers who use credit and debit cards. It is important that they have a payment processorA large data center that processes credit card transactions and settles funds to merchants. A processor connects to the merchant on behalf of an acquirer via a gateway or POS system to process payments electronically. Processors edit and format messages and switch to bankcard networks. They provide files for clearing and settlement and other value-added services.... to ensure that they can accept credit cards. Nail salon owners must use a modern POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. system or payment terminalThe device by which a transaction is transmitted to the acquiring bank. to accommodate them.
While some nail salons love the high-tech approach to business, others just want a basic solution to accept on-site payments. Each payment processorA large data center that processes credit card transactions and settles funds to merchants. A processor connects to the merchant on behalf of an acquirer via a gateway or POS system to process payments electronically. Processors edit and format messages and switch to bankcard networks. They provide files for clearing and settlement and other value-added services.... will have a variety of options for credit card processing with different fees for service. National MerchantA business that accepts credit cards for goods or services. Accounts allows you to customize a cost-effective solution that Works For You(tm).
Some payment processors won’t charge to get your hair and nail salon equipped to set up and accept credit card payments. The card swiping terminalThe device by which a transaction is transmitted to the acquiring bank. and software are all provided at no extra charge.
Payment Processing Integration With POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. Systems
Every salon has different needs from their POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. system and credit card processing service. Some salons are old school and have a workflow in place for inventorying and scheduling. Others are looking for a more high-tech approach because they have many clients that set up appointments on their computers.
Nail salon credit card processing can now integrate with the POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. systems to provide a variety of services to ensure smooth payment processing and efficient nail salon management. Some payment processorA large data center that processes credit card transactions and settles funds to merchants. A processor connects to the merchant on behalf of an acquirer via a gateway or POS system to process payments electronically. Processors edit and format messages and switch to bankcard networks. They provide files for clearing and settlement and other value-added services.... POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. systems include the ability to schedule customers, contact customers, generate reports, and order supplies.
Benefits of a POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. system for your nail salon business:
- Increase efficiency by managing guest lists, tracking customers
- Offering gift and loyalty cardA retailer or brand specific card that has cardholder benefits used to build brand or store loyalty. Cardholders are usually given an award or discount based upon number of visits or dollars spent. management
- Schedule labor and time clock
- Reduce employee theft and labor costs
- Implement dynamic pricing during off-peak seasons
- Track inventory and provide detailed reports
- Integrate purchasing and ordering capabilities
- Automate text and email appointment reminders
- Provide electronic invoices and receipts
- Tip adjustment tools
- Automated accounting and reconciliation of operations
- Cost-effective cloud-based computing options
Payment Processing Customer Support
Whether you simply need help to get set up, have difficulty with a transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account...., or the software is down, the payment processing customer support should be there to help you. Good customer support is essential when selecting a credit card processorA large data center that processes credit card transactions and settles funds to merchants. A processor connects to the merchant on behalf of an acquirer via a gateway or POS system to process payments electronically. Processors edit and format messages and switch to bankcard networks. They provide files for clearing and settlement and other value-added services..... A great customer support team will provide you with peace of mind. Whatever the issue, you know you can trust them to help you run your business.
When selecting a credit card processorA large data center that processes credit card transactions and settles funds to merchants. A processor connects to the merchant on behalf of an acquirer via a gateway or POS system to process payments electronically. Processors edit and format messages and switch to bankcard networks. They provide files for clearing and settlement and other value-added services...., look for companies with testimonials of excellent customer support. This will ensure that you have the software support that you need when you need it. Select a company that offers 24/7 customer support.
Choosing a Payment ProcessorA large data center that processes credit card transactions and settles funds to merchants. A processor connects to the merchant on behalf of an acquirer via a gateway or POS system to process payments electronically. Processors edit and format messages and switch to bankcard networks. They provide files for clearing and settlement and other value-added services.... for Your Salon
Nail salon owners must be selective when choosing their payment processing service. Some companies will charge too much in fees for the nail salon owner to be profitable. Others may not offer integration with a POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. system to support the functioning of their nail salon.
National Merchants Association is dedicated to offering its merchants the latest state-of-the-art POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. systems and payment terminals. They also have updated software that accepts all payment types. Their expert account optimizers individually evaluate your merchantA business that accepts credit cards for goods or services. account and work to eliminate costly surchargesAny additional charges to a merchant's standard processing fees. They are a result of non-qualified transactions of different communications methods. and fees that other processors charge to ensure that their services are affordable for you. NMA is a merchantA business that accepts credit cards for goods or services. account that Works For You ™.
Visit National Merchants Association today to learn if their payment processing service is right for your salon.