6 Ways a Credit Card Processor Can Help Child Care Operators
December 17, 2019
Child care centers across the country provide an essential and invaluable service to families in their local communities. That’s why it is vital that child care professionals spend more time caring for children and less time on administrative tasks – and that includes managing credit card payments.
Our company, Iroquois Merchant Services, is honored to serve as a partner with ChildcareTennessee – an initiative led by The Community Foundation of Middle Tennessee and funded through a grant from the Tennessee Department of Human Services (TDHS). ChildcareTennessee’s goal is to improve the quality, accessibility and sustainability of the services offered to the children and families in the Volunteer state.
In Tennessee, there are around 3,770 preschools and child development centers serving the needs of children and parents, according to Childcenter.us. Of that number, TDHS operates approximately 2,300 centers. As the population of Tennessee continues to grow, more centers will be needed.
The challenges facing child care providers in Tennessee are not unique. Nationwide, the costs of running a center are rising faster than household incomes, which affects how much operators can charge and how much parents can pay. Operators need easy, cost-effective solutions, especially for something as important as credit card processing.
Here are six ways we can help ChildcareTennessee centers, as well as others around the country, reduce credit card processing costs and improve operations:
1. Guaranteed savings of at least 20% on all credit card processing fees
Most child care centers are small businesses that operate with low profit margins. A 20% reduction in fees will drop straight to the bottom line, allowing providers to reinvest the profits back into the business.
2. Accept all brands of credit cards, debit cards, ACH payments and check scanning
For child care operators, providing quality service to children is job one. Being able to accept all forms and methods of payment – every major credit card, electronic checks, gift cards, pre-paid cards, EBT and more – means employees can spend more quality time with children and less time managing payments and deposits.
3. Mobile payment solutions for fundraisers and events
Fundraising events are a tried-and-true method to finance new programs and building improvements and to help keep down the costs of taking care of children. Mobile payment processing is ideal for fundraisers because it allows the center to effortlessly collect donations on smartphones and tablets during an event.
4. Recurring payments for tuition and other programs
Child care providers need quick access to working capital to keep their business running smoothly. Offering recurring payment solutions makes it fast and easy for your customers to pay their monthly bill and, just as important, donate to special programs.
5. Detailed reporting and reconciliation tools
Most child care companies have a lean administrative team to manage the business, and that includes employees responsible for accounting. Merchant services solutions that provide robust, detailed reporting – and can be seamlessly integrated into popular CRM and accounting platforms – allow employees to easily track and reconcile payments.
6. Superior customer service
If a child care center experiences technological glitches in their payment system, it could result in the agency temporarily being unable to accept credit or debit cards, which could cause frustration to all involved and possibly even damage the business’s reputation. Child care providers need access to a dedicated customer service team that provides 24/7 service support to resolve issues and speed up payments.
Ready to find a less expensive solution from a reliable merchant services company for your credit card processing needs? Get started today with our free analysis.