If You Are an American Express Merchant, Then You Should Reconsider Your Choice!
Nowadays, almost every company needs the services of a payment processing company. And one of the standard methods is to become an American Express merchant. But this method is almost outdated. It has too many disadvantages in comparison with other processing methods like the AmEx Optblue. And 3 of them have a significant negative effect on the financial state of the company. The 3 downsides of the American Express methods are:
• Long processing period. Despite being an express method, the processing period takes from 3 to 5 working days. That is an enormous period. And you will have to wait for the process to be finished. Only then will the money be transferred to your account. This means that your company will always be 5 days behind while receiving the payments made through this method.
• High commissions. Compared with other payment processing methods like the AmEx Optblue method, the standard method has even higher commissions. So, you will have to pay more money for services that have a low quality than the more efficient alternatives. In the long run, your company will lose a lot of money if you continue to use this payment processing method.
• Inefficient payment processing. The overall payment processing management has very low efficiency. And there are many disadvantages that your company will have to deal with. The cash flow of your company may even be affected, and that could create big problems as well. It is in your best interest to do a little research and find a processor that will provide you with the best methods on the market.
Advantages and Benefits That an American Express Merchant Can Expect from the Optblue Method!
What makes the AmEx Optblue method a much better alternative for your company? Well, the quality of this processing method is much higher than American Express merchant version. And there are 3 advantages and benefits that will completely change the way through which your company deals with payment processing. You should try your best and find a reliable processor that can provide this type of payment processing method.
• 12-hours money transfer. The first advantage that you will receive is a very low processing period. You will not even need to wait for a full day until the money is transferred to your account. This means that you will have access to all the company’s funds and cover any costs that you may have without complicating the cashflow process. As you can imagine, the efficiency of your company's payment processing will skyrocket in comparison with the American Express merchant method.
• More than 1% less commission. Not only is the quality of the payment processing much better, but the amount of money that you will need to spend is much lower as well. The overall commissions will be more than 1% lower than the standard method. Keep in mind that this reduction is from 3.5% to 2.3%. So, the amount of money that you will spend will be significantly lower. A bigger company will even be able to hire more employees just from this reduction alone.
• Simplify the management process. The last benefit that you can expect from the AmEx Optblue method is to get the ability to simplify the management process of your company’s cash flow. Many companies use credit lines to ensure the stability of their company's cash flow. But if you use this method, then you can avoid this complication. Also, you will be able to use the credit lines when you need an investment or when the company needs some extra funds for unexpected situations.
Other Features Besides the AmEx Optblue Method That You Should Expect from Your Processor!
Besides the AmEx Optblue payment processing method, there are several other tools and features that you should expect to get from a reliable processor. Each of these features is mandatory for your company. You will never be able to compete for the top of your industry if you do not benefit from them. So, you need to make sure that the processor understands your needs and provides you with at least the 3 most important features. Only then should you take that processor into consideration for a long-term collaboration.
• Several payment processing methods. The main payment method that most processors provide is the American Express merchant method. But not all of your clients will use this method. Some of them may need to pay through another alternative. So, you need to make sure that your potential partner can provide you 2 or 3 payment methods. Only then you can be sure that not clients are lost because of your company’s inability to receive payments from them. Each processor may have different methods that it can provide. So, you should do some research and find the ones that provide the methods that your company needs.
• A large number of integrations. The second type of features that are mandatory for your company are the integrations that the processor can offer. You will never be able to find a processor that can provide you with features and tools for all your company's needs. But it can make use of integrations to be able to cover everything. So, before you choose the processor that you will use, you need to check the integrations and make sure that the payment company can cover all your needs. Only then should you take that company into consideration.
• Proper payment processing reports. The last feature that is mandatory for any processor is the reporting. One of the most important parts of any company is its reporting abilities. Why? Because the information that this part provides is essential for the future of your company. Keep in mind that a good decision is always based on knowledge and information. So, you need to make sure that the payment processor can provide your company with the detailed information through reports. Only payment processing companies that can provide the 3 types of features mentioned above should be taken into consideration.
