Let's face it, credit card fees can eat into your veterinary practice's profits. Between interchange fees, assessments, and potential chargebacks, those swipes can add up quickly. But what if there was a way to offer your clients flexibility while keeping your bottom line healthy? Enter the humble check.
Checks: A Timeless (and Cost-Effective) Payment Option
Accepting checks offers several advantages:
Reduced Fees: No more hefty credit card processing fees! Today, the typical credit card fee is upwards of 3 percent, which gets costly for a busy vet practice with many transactions. With checks, you keep more money in your pocket to reinvest in your practice and staff.
Multiple Check Option: For significant expenses, consider offering an option of using multiple checks. These can be deposited at predetermined intervals, easing the immediate financial burden for your clients.
Check Guarantee: Mitigate the risk of returned checks with a check guarantee service. These services protect your practice in case of insufficient funds.Modernizing Checks for a Streamlined Experience
Checks might seem old-fashioned, but there are ways to integrate them seamlessly into your workflow:
Online Check Verification: Some services allow you to verify check validity electronically.
ACH with Tokenization: For established clients with recurring needs, consider ACH with tokenization. This secure system allows clients to store their checking account information, streamlining future payments.
Finding the Right Balance
While checks offer a cost-effective alternative, it's important to maintain a balance. Many clients still rely on credit cards for convenience.
Here's what to consider:
Client Base: Evaluate your client demographics. If a significant portion prefers checks, offering them can be a win-win.
Transaction Size: Checks might be more suitable for larger bills, while credit cards can handle smaller routine purchases.
Technology Integration: Ensure your chosen check verification and processing solutions integrate smoothly with your existing practice management software.By offering checks alongside credit cards and exploring modern solutions like check guarantee and ACH, you empower your clients with flexible payment options while safeguarding your practice's financial health. Remember, a healthy business is key to delivering the best possible care to your furry (and not-so-furry) patients!
CrossCheck is Ideal for Veterinarians
CrossCheck is a payment processing company with more than 40 years of experience helping merchants across many industries, including veterinary practices. Discover how our payment processing solutions can provide financial peace of mind and enhance your overall financial experience. Contact us today to schedule your consultation and take the first step toward simplifying your financial journey with CrossCheck.
