5 Compelling Reasons for Contractors to Accept Card Payments

Contractors should process credit and debit card payments to expand their client base, exude professionalism, and more efficiently manage cash flow. Accepting card payments will also satisfy existing customers and allow your business to process transactions quickly.


The Challenges of Accepting Card Payments for Contractors

Homeowners have countless options to submit payments to contractors for various services. Although the many possibilities give customers agency over their payments, it can also present challenges for contractors like plumbers and HVAC.

Homeowners now expect home service providers to accept credit and debit cards as payment. It’s your job to deliver this option. In the following post, Field360 outlines the primary reasons to process credit card payments and provides the best solutions to make it happen.


Learn More About Accepting Credit Card Payments for Plumbers


Top Reasons to Process Credit Card Payments


1) Satisfy Customers

The top reason to accept card payments is to please a large percentage of our client base. They view card payments as a convenience that saves them from writing a check or withdrawing cash from their bank accounts.

Because most credit card companies offer extra security, like fraudulent charge alerts, customers may feel more secure paying via card. Then, of course, there is the added bonus of credit card programs and award earnings that offer more incentives for card use.


2) Quickly Process Transactions

On the business end of the equation, card payments process faster than some traditional forms of payment like checks. Once a customer submits their card payment, the capital is swiftly deposited into your business account. 

As contractors, we all want payments to be processed as quickly as possible to adequately manage cash flow and properly project financial benchmarks.


3) Efficiently Manage Finances

Paperwork is a nightmare for financial management, especially for small businesses. By going paperless with your payments, invoices, and receipts, your company can more efficiently organize and maintain financial records.

The time you can save on accounting, reconciliation, and other financial tasks is immeasurable when you invest in paperless options.


4) Increase Sales Transactions

By adopting credit card processing, you are organically increasing sales volume. A percentage of customers will simply not work with your business if you neglect to offer this modern payment option.

The goal of investing in digital solutions is to scale your business. The modern consumer has evolving preferences that shift the onus onto home service providers to offer the solutions they most covet.


5) Establish a Professional Reputation

There are various ways that home service providers measure themselves against competitors. Sometimes, it’s how many trucks you have on the road or how many reviews appear on your Google Business Profile.

One of these indicators is your ability to process card payments. Contractors that refuse this option are often seen as lower-end or outdated. Whether those criticisms are fair or not does not matter because that is the perception.


Best Way for Contractors to Accept Card Payments

The most convenient way for contractors to accept credit card payments is through software. Various software solutions feature card payments and invoicing. Some of these tools focus only on the payment side, while others offer additional features like job scheduling, dispatching, and GPS tracking.

For the most efficient business operations, using one software for all your solutions is best. Field360 is the only software to offer the essential components of field service management software, payment processing, and agency-level marketing. By choosing Field360, you cover everything needed to scale your business.


Conclusion

Contractors must adapt to their client’s evolving payment needs. An essential first step for business owners is to accept credit and debit card payments from their customers. There are several benefits of receiving card payments, including efficient cash flow management, but it can also present various challenges without a good solution.

The good news is that new and exciting software solutions for credit card processing have emerged in the last few years. Field360 is the ultimate all-in-one solution for field management, payment processing, and agency-level marketing.