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3 Check Payment Solutions to Maximize Home Furnishings Revenue

Posted by Brandon Weaver | Fri, May 18, 2012 @ 10:00 AM

Home furnishing businesses have rebounded very well the past few years. Part of this recovery effort can be attributed to them continuing to accept check payments, which appeal to a wide variety of customers. Check payment solutions encourage check payments, which remain a convenient option for customers. Meanwhile, check services increase merchant’s sales and reduce risk. In the end these services help the industry grow, open new stores and hire more employees.

According to Sharron Bradley, the Executive Director of Western Home Furnishings Association, home furnishings was an $84 billion industry in 2011. In addition, industry expert and Managing Director of MAE, Ltd. Jerry Epperson demonstrates how furniture stock prices have risen since this same time in 2009:

home furnishing, furniture, stock prices

Based on these rising stock prices and positive momentum, can your business afford to pass up implementing a check payment solution and miss out on this growing trend?

Mr. Epperson continues to say that new "housing starts were up +34.7% in February 2012 compared to February 2011.” With this new home construction rate increasing and rising industry sales, the time to utilize a check payment solution is now. As more and more people begin to build new homes, the need for home furnishings remains a positive relationship. Therefore, both furniture and home appliance stores stand to benefit by using check payment solutions.

Check payment solutions can be implemented quickly and easily at the point of sale. Services such as Standard Check Guarantee can authorize checks in seconds via phone, Internet or terminal. Using this program, customer checks that are returned from the bank unpaid due to non-sufficient funds are submitted to the check service provider as claims. The claims process usually occurs within 30 days and claims are paid up to the maximum agreed upon dollar amount provided all warranty guidelines are followed.

Other services applicable to home furnishing merchants are Stop Payment and COD premiums. Stop Payment protection is beneficial because these payments are often very difficult to collect on. A COD Premium service is appropriate because some home furnishing purchases are phone orders and products are delivered to the customer's home. Knowing these factors, the service was designed to match them accordingly.

Check payment solutions are convenient, increase sales and reduce risk, all at the point of sale. Home furnishing statistics are improving compared to recent history, so the time to act is now in adopting a check payment solution. Fill out this proposal request and start capturing your share of growing industry sales.

 

check on delivery, cod

 

Topics: Home Furnishings, Increase Sales, Electronic Check Processing

Written by Brandon Weaver