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Point of sale financing is a phrase that may be new to you, but it is one you will likely be hearing a lot about if you haven’t already. As emerging technology has transformed the consumer finance landscape over the past decade or so, point of sale financing has emerged as an attractive option for homeowners to fund home improvement projects. Instead of reaching for their credit cards or paying cash, more and more homeowners are expecting contractors to offer alternative ways for financing their purchases.

Contractors that already offer financing at the point of sale have discovered that this is a great way to close deals faster. Here are some reasons why you should take advantage of point of sale financing (and why you should work with HomeVest Finance).

1. Offer financing to more customers.

If you work with a company like HomeVest Finance, you will be able to offer financing to more of your customers. HomeVest Finance has a diverse pool of lenders covering the broadest range on the credit spectrum with a variety of products. This provides an increase in approval rates and ensures customers have access to the credit they need to purchase your products and services.

2. Attract and empower customers.

HomeVest Finance offers maximum approvals. This gives your customers more buying power to make the purchases they really want, right now! Because HomeVest Finance has the ability to offer better financing to more customers, you will be able to attract more customers and build better relationships with the ones you already have.

3. Contactless and secure application process.

As the ways in which customers can access financing has evolved, point of sale financing solutions through HomeVest Finance allow you to offer your customers a safe and secure way to apply for financing. Contractors can prequalify homeowners for financing in minutes without affecting their credit.

In our ever more digitized world, homeowners are getting more accustomed to convenience and speed when it comes to financing purchases. In order to stay competitive, contractors wanting to offer better financing options to their customers will need to work with an easy-to-use platform that is flexible and intuitive, like HomeVest Finance

The One Click Contractor platform provides contractors the ability seamlessly offer financing right in the estimating system. “Price Presentation and Project Summary” increases the number of financed jobs and increases your close rate. We do this by allowing contractors to concisely show options side-by-side and easily present financing options to the homeowner ON EVERY JOB THEY QUOTE. 

We’ve received a lot of feedback from our customers that they wanted a better way to show project details, pricing and financing options when presenting to the customer.

Well, you asked, and we delivered. Introducing Price Presentation.

Who doesn’t love payday? Efficient, digital customer payment keeps projects and your business on track. But if you’re still relying on paper checks over digital payment, you’re losing valuable time. We’ve teamed up with CardConnect to provide you these digital payment tips and learn why the most efficient, successful contracting businesses skip the paper and use digital credit card or ACH payments.

Selling has never been this easy. Imagine your entire sales process done remotely!

With the powerful One Click sales software platform, you have the ability to present design options, close the deal, and collect payment virtually from the comfort of your home office or ANY remote location. Does your customer need financing options? Not a problem!

Expectations around offering credit cards as a payment option

According to recent data, roughly 7 in 10 people in the U.S. have at least one credit card, 43% of U.S. consumers prefer to use credit cards over other payment options like checks or cash. Simply put, accepting credit cards as a payment method is expected by homeowners. Fortunately, there are several simple methods of accepting credit card payments no matter where you and your customers are. Here’s how to find the right fit for your business.

Benefits Of Accepting Credit Card Payments

As a business owner, your goals are simple. You want to close more jobs, make more money AND provide a high level of customer satisfaction. One way you can do this is by making it simple for customers to pay you. Accepting credit cards is an easy and fast way for customers to pay for a job. Offering credit cards can offer additional benefits to your company as well. Many card processors allow you to easily track your sales, financial data, and overall financial health of your business. It also easily plugs into your digital sales platform like One Click Contractor, which allows you to create a digital paper trail of receipts, as well as seeing payment status and customer information, all in one place.

How To Begin Accepting Credit Card Payments

We know it can be daunting to choose which option best fits your business because there are many methods of accepting credit card payments. You may want to choose one, two, or all of the following options:  1. Find a point-of-sale system A flexible point-of-sale solution helps you manage customers and accept multiple forms of payment, including credit cards. When you’re doing much of your business on the go, a virtual credit card terminal is another great option. To streamline your business operations and reduce costs, choose a platform that combines payment accounts, billing history, and more. The right system will also allow you to initiate transactions for all types of sales from one integrated system, whether purchases are made in-person, by phone, or online. Many systems tie job details and payment to a customer record and allow customers to log in or call to pay with an account on file. 2. Invest in mobile credit card processing Another option for taking payments on the go is mobile credit card processing, as swiping a credit card on a mobile device is becoming the norm for many customers. Their payment is confirmed on the spot, and an emailed receipt can be sent immediately.

Add to that the ability to access cash flow reporting, manage customer accounts, and send invoices from anywhere you have a signal, and you start to see the benefits of using a mobile payment app for your business. A mobile app works in combination with a mobile card reader, which allows you to run your business wherever you and your customers are. 💡Pro Tip: Look for providers that sync your mobile and in-person payments to reduce future accounting headaches. 3. Send click-to-pay emails As a contractor, each month might look different for your business, but your overall needs are the same. You want to receive payments in a timely manner while also providing convenient payment options to your customers. A click-to-pay email gives your customers the ability to pay their bill online and receive a receipt in seconds. When a customer clicks and makes an online payment, the bill is marked as paid in your system automatically and that paid status is indicated in One Click Contractor as well through the PaySimple integration. 4. Schedule recurring credit card payments Make it easy for customers to pay job installments with recurring credit card payment options. One of the most popular methods of accepting credit card payments is recurring billing. If you’re billing customers on an installment plan, the option for recurring payments is a game-changer. This set it and forget payment method will ensure you will get paid on time. By billing on a recurring basis, you can make your customers’ lives easier while ensuring a more predictable cash flow.