The last thing anyone wants to worry about when their pet needs medical care is a lack of payment options. Most people don’t carry the cash on them to pay for more expensive procedures, and it can cause even more stress on both sides if payments are tough. The average cost of vet care for pets is $400 a year. That’s why veterinary credit card processing services are so essential.
Why You Should Accept Credit Cards as a Vet
First, it makes sense to provide your clients with as many options for paying as possible. This makes it very easy to accept payment, and the client doesn’t even need to think it through. After all, their minds are already pretty busy with other things, like the wellbeing of their furry loved one. With 94% of pet owners taking their pets regularly to the vet, a variety of payment options are necessary.
Contactless payments are a big deal these days, so if you offer this service, your clients will be thrilled. They can bring their pet to you, risk-free, and still pay with their card. It’s an easier method of managing your sales and puts the customer at ease.
When you offer the option for credit card processing, you immediately open up the possibilities for your clients. They can pay with a credit card and then pay that off later when they have the money. This means that you’ll immediately see an increase in your cash flow. Sales tend to improve when you accept cards as payment, in addition to cash.
Accepting credit cards also means you are ahead of your competitors who don’t offer this option and you can even provide your services or products online. For example, some vets offer online consultations or have an online shop so people don’t need to come into the office in order to purchase. Additionally, this opens up the possibilities for earning more money over time.
Customers often leave a practice simply because they weren’t able to pay with a credit card. Even if you are more expensive than other vets, you’ll still get customers if you make it simple for them to pay you. While some have pet insurance, a great number prefer to pay with credit, particularly for larger vet bills, such as emergency services which average around $1000.
Customers choose the veterinary office they can trust, but they also have to consider payment options. Make it simple for them to select your business as their favorite, so you can help more animals.
How to Get Merchant Services
Before you can accept credit cards, you have to have a merchant account that Works For You(™) with a credit card processing company. This can be a bank or a separate entity, such as NMA. You’ll have to apply for a merchant account, which is where things often go wrong.
Banks are pretty risk-averse which means they’re reluctant to give merchant accounts to companies they don’t feel are safe. If you’re in the high-risk arena, they may reject you completely. The other issue is that they often crank up the fees to ensure they don’t lose money on you. If this happens, you’ll be paying so many fees that you may have to raise your rates. Since no one wants to boost their prices without actually receiving the money, this can be a serious issue.
It’s important to select a merchant services account that will work with you to meet your needs. You want low fees and to make it very simple for both yourself and the customer. It’s also important to have the option of taking credit cards online or offline, depending on your needs. Most of the time, you want the choice to do both since you could choose to go online at a later date. This also allows customers to pay online without setting foot in the office if they are simply doing a drop-off. Research is key when it comes to finding the right credit card processing merchant account.
The credit card processing is done either online or through a piece of hardware in your clinic, where the client can tap or swipe their card. Either option will require the card information. From there, the processor almost instantly checks with the bank or company that issued the card to verify that it’s okay to use it. This is based on the card’s current status and whether it has been reported stolen, etc. The bank or card issuer must approve the charge because otherwise, they will end up with chargebacks.
All of this is automated and occurs in those few seconds between swiping the card and waiting for the confirmation to pop up. In that small space of time, the query is sent to the issuer and the response is sent back. If the card is accepted, then the payment is taken from the card and placed in your merchant account.
It may sound complex, but you don’t need to worry about all the background workings. You just have to make sure it’s available to your customers. Then you can focus on what you do best: working with the animals.
NMA: Payments Made Personal
You need merchant services, and we provide credit card processing specifically for veterinary clinics. Our payment experts in the pet care and veterinary industry are ready to help you find the best solution for your needs. In fact, we have our payments experts specifically selected because they know how your business runs. You can easily talk to an expert about veterinary credit card processing, and they will give you all the information you need.
It’s just easier to have the experts in your particular industry working with you on your merchant services. It eliminates the need to explain your company and streamlines the entire process. Contact our payments experts today and learn how your veterinary business can start accepting card payments. Remember, We Work for You®!