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How Credit Card Processing Works for Nail Salons

Credit card processing for nail salons need to be hassle free. 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 nail salons and hair salons 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

How credit card processing for nail salons works is the transaction begins when the cardholder presents their credit card information to the merchant. The merchant requests authorization of the payment through their processing software. The payment processor 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 processor. The processor sends the approval to the merchant. The merchant then sells the goods or services to the customer. This happens within seconds at the checkout.

Once the approval completes, authorization begins. The issuing bank ensures the transaction is valid. The credit card association requests payment authorization from the issuing bank. The bank approves the transaction that the cardholder makes. The issuing bank sends the approval to the merchant bank. At the end of the business day, the merchant’s POS terminal batches and sends the authorizations for processing. 

The next step is settlement when the merchant receives the funds. The payment processor sends the batch to the card association. The card association sends the transaction information to the issuing bank. The issuing bank charges the cardholder’s account for the authorized payments.

The issuing bank charges the interchange fees for the card association and transfers the rest to the merchant bank. The merchant bank then distributes the money to the merchant account. Finally, the issuing bank posts the transaction 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 processor to ensure that they can accept credit cards. Nail salon owners must use a modern POS system or payment terminal 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 processor will have a variety of options for credit card processing with different fees for service. National Merchant 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 terminal and software are all provided at no extra charge.

Payment Processing Integration With POS Systems

Every salon has different needs from their POS 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 POS systems to provide a variety of services to ensure smooth payment processing and efficient nail salon management. Some payment processor POS systems include the ability to schedule customers, contact customers, generate reports, and order supplies.

Benefits of a POS system for your nail salon business:

  • Increase efficiency by managing guest lists, tracking customers
  • Offering gift and loyalty card 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 transaction, 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 processor. 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 processor, 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 Processor 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 POS system to support the functioning of their nail salon.

LOLA POS. is dedicated to offering its merchants the latest state-of-the-art POS systems and payment terminals. They also have updated software that accepts all payment types. Their expert account optimizers individually evaluate your merchant account and work to eliminate costly surcharges and fees that other processors charge to ensure that their services are affordable for you. LOLA POS is a merchant account that Works For You ™.

Visit LOLA POS. today to learn if their payment processing service is right for your salon.

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