Payments on the Go
When Square introduced an inch-square credit card reader that anyone could plug into their mobile phones to accept payments, they successfully began training small business owners to look for financial services outside of a traditional financial institution. Square’s simplicity of access and ease of use to accept card payments was attractive to small businesses. But for community banks, Square has become a direct threat in the small business segment by expanding its small business offerings to include business loans, checking accounts and more.
To understand if Square is a threat to your bank’s portfolio, a quick ACH scan will inform you of the financial technology your customers are using. The threat may be larger than you imagined, and your bank should not concede business to Square when there are competitive options available, often at a better price point.
SwipeSimple from BBOK Merchant Services, powered by Fitech, is one of those options. It is an ideal solution for unique segments such as small businesses, religious organizations, restaurants, personal services and retail stores. Designed to accept debit, credit and EMV payments from anywhere on any Android or Apple phone or tablet with WiFi capabilities, this technology securely saves customer data and provides cloud-based transaction history and reporting for businesses.
BBOK Merchant Services program offers competitive pricing, backed by our “meet or beat guarantee”. We are typically able to beat competitor pricing, including Square.
To preserve your small business relationships, call BBOK Relationship Manager Berin Lacevic at 316.681.9203 today.