When your business is fully booked, you shouldn't have to worry about processing client payments.

Finding the right merchant services for your beauty or wellness business makes for a more reliable payment process. These services let you accept funds quickly and efficiently – so when clients walk out the door, they’re satisfied with the experience instead of frustrated by clunky machines and slow gateways.

Here’s our guide to merchant services, including how to set them up and what to look for in a provider. 

What’s a Merchant? 

A merchant is anyone who sells products or services and receives payment for them. Whether you’re cutting hair out of your home salon or working on running a multi-location gym business, providing a service and getting paid for it makes you a merchant. 

What Are Merchant Services?

Merchant services are the financial tools that businesses use to accept and process client payments. This umbrella term includes any method you use to collect money from customers, including credit cards or gift cards. 

Pleasing clients may be the heart of your business, but think of merchant payment services as the brain, helping you complete tasks with logic and precision. You need these technical tools to help things run smoothly and give you time for the transactions that really matter, making customers feel at home and providing services that make their day. 

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What Do Business Merchant Services Include? 

Merchant service providers offer various payment processing tools to help your beauty or wellness business excel. Here’s a quick rundown of what they usually include: 

Point of Sale (POS) Systems 

A POS system is the hardware and software used to accept in-person payments. This includes machines like card readers, cash registers, and software for tracking sales and inventory. POS systems facilitate the checkout process and make the whole process as seamless as possible, simplifying clients' payments and avoiding hiccups. 

Need a good example? GlossGenius’s POS hardware lets you accept any payment type from – credit card swipes and chip card taps to smartphone mobile payments. We only charge merchants one flat rate of 2.6%, with no add-ons or hidden processing fees (ever). Try the Tap & Go Reader, a mobile card reader so portable it fits in your pocket, or the Pro Reader, which has all the features of the tap reader plus a dedicated client-facing display. 

Credit Card Processing

When it comes to merchant services, credit card processing is your biggest asset. Most clients use credit cards to pay, and card readers make each transaction quick and easy. Some devices are mobile, and others are part of a POS system. 

Most of these machines are contactless payment-enabled, allowing customers to pay without worrying about swiping or inputting a PIN. Clients can also use their phone’s mobile wallet.

Payment Gateways

A payment gateway is the bridge that facilitates online purchases by processing a customer’s payment information and sending it to businesses. It usually integrates with websites,  eCommerce stores, and POS software solutions that you may already be working with. If that’s the case, you don’t have to worry about the technical parts of setting one up yourself. PayPal and Stripe are two good examples. 

Payment gateways make life easier for your clients by letting them book and pay for their services from anywhere. Clients who appreciate flexibility may schedule more appointments when your checkout experience is super convenient. When choosing a gateway, make sure it’s as reliable as possible – it handles sensitive financial data, after all. It should encrypt sensitive information, transmit it quickly, and integrate smoothly with any other services you use, including an appointment scheduler or CRM that stores customer info.. 

Loyalty Programs and Promotions 

Loyalty programs and sales promotions – such as referral programs for clients who bring new customers or end-of-season discounts on products – keep loyal clients coming back for more. Your merchant systems should be able to facilitate them easily.

Check Processing

While most clients don’t pay by check, you should be able to process these payments if the need arises. A merchant services provider sets you up to handle check payments efficiently by saving you the trouble of reconciling the account. Instead, it transfers and validates the customer’s financial information for you. 

Chargeback Protection  

A chargeback happens when a client claims their payment to your business was fraudulent and asks their debit or credit card provider to reverse the transaction. This process is important for real cybercrime, but it’s a hassle for you as a merchant – especially in cases when fraud didn’t occur. 

Any good merchant service should help you avoid these losses as much as possible. That’s why GlossGenius uses PCI-certified payment networks, and our Gold and Platinum plans have chargeback protection. GlossGenius  chargeback protection covers transactions made with a card reader or through Tap to Pay, even if the bank rules against you.

How To Set Up Merchant Services for Your Beauty or Wellness Business  

Set up your merchant services with this step-by-step guide:  

1. Assess Your Needs

Make a list of what your business needs when it comes to payment processing. Which types of payments do you want to accept (cards, cash, check, Apple Pay, etc.)? How many transactions do you make daily? What extras do you want, like gift cards and loyalty programs? 

Knowing what boxes to tick helps you find a service that covers them all, so make a list of the non-negotiable features, the ones that would be nice to have, and how much you can pay. This will make it easier to eliminate options that aren’t going to meet your needs.  

2. Research and Compare Service Providers 

Research and compare providers specializing in the wellness industry – they’ll know what you need more than a general merchant service would. Compare fees, payment solutions, and integrations, and figure out which options have the best customer support. Doing your research upfront avoids switching providers later on if your needs aren’t being met. 

It could also be helpful to research what your competitors are using to understand what’s common in your industry.

3. Register Your Business  

You can’t open a merchant-specific bank account if you don’t register your business. If you haven’t already, get any necessary permits, licenses, and identification numbers. Most states require you to register with state agencies, so check the laws in your area and follow the recommended steps. 

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4. Open a Merchant Bank Account 

A merchant account – which is not the same as a business bank account – is exclusively for processing client payments. When someone pays you, the money goes through the merchant account first before going into your business account, where you can access the funds. The process is a bit complicated, but all you need to know is you need both account types to accept credit card payments. Just give your information to the merchant service and they’ll handle the rest.

Choose a bank with low fees and reliable online banking to help you manage your finances efficiently while keeping as much money as possible in your pocket.

5. Fill Out the Application Form and Provide Documentation 

Now you have all the prerequisites to sign up with a merchant service provider. Most ask you to complete an application form with details like your business name, type, and merchant bank account information. Submitting the form gives your service provider all the need-to-know details so you can start processing transactions ASAP. 

6. Receive the Hardware and Install the Software 

Once approved, your merchant service provider sends you the necessary hardware and software to process payments. This includes items like POS terminals, card readers, and computer downloads – whatever you signed up for. 

Follow the instructions carefully to install the software and set up the tools right the first time. Proper installation ensures your payment system works from the start so you avoid hiccups and delight clients faster.   

7. Test It Out 

When in doubt, test it out. Give your payment processing system a test run before using it with actual clients. Set up a mock payment – like a dollar or two with your personal credit card – to identify any issues. Contact your service provider if anything goes wrong. 

Testing makes sure your new system can handle transactions smoothly to avoid potential disruptions when providing client services. It also gives you the chance to get used to the process and train the whole team so they know what to do, too.

How To Choose the Best Merchant Services Provider  

Choosing the right merchant services provider for your needs makes accepting payments a breeze. Here’s what to look for: 

• Transparent, competitive rates: Choose a company with a clear, upfront pricing model with no hidden fees, like cancellation and transaction fees. Compare monthly charges from your top contenders to see which company has the best prices. It’s also helpful to ask around and read reviews because real users will have the insights you need.
• Compliance and security: The Payment Card Industry Data Security Standard (PCI DSS) outlines rules and regulations for merchant services. It protects sensitive customer information and makes sure large credit card brands and other providers keep their users safe. Double-check that your service of choice is compliant so customers feel confident handing over their financial information.
• Customizable services: When it comes to merchant services, there’s no one-size-fits-all. Opt for a company with customizable solutions for your self-care service business. You might want anything from branded POS terminals to custom payment forms for your clients – so make sure your provider offers it.
• Growth potential: No matter where your business is in its journey, it’ll grow and shift over time. Find a service provider that can adapt with you. Features like support for additional payment methods, multi-location processing services, and advanced reporting will help your business scale. 
• Customer support: You never know when a payment problem might come up. Select a provider that offers easy-to-access customer support just in case. Getting the support you need anytime, day or night, means you can resolve issues quickly and keep the cash flowing. 

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Power Your Payments With GlossGenius 

Make your business operations as smooth as your service. Choose GlossGenius as your all-in-one beauty business software solution. 

GlossGenius offers powerful features like easy payment processing, POS systems, and stunning customizable card readers that wow you every day. Clients can make contactless payments from anywhere in the salon with the Tap & Go Reader or swipe their card on the way out at the GlossGenius Pro Reader. Our platform makes handling any transaction easy with ultra-low credit card processing rates – allowing you to focus on making clients feel fabulous. 

Try GlossGenius free for 14 days!

Plus, you can use GlossGenius to run every other aspect of your business, from Appointment Scheduling and Online Booking to sending automated appointment reminders.  

Sign up for a free 14-day trial with GlossGenius today to get started. 

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This information is provided for general educational purposes only. For legal, cybersecurity or compliance advice specific to your business or situation, please consult a professional.