Hosted phone systems are private branch exchanges hosted by business phone service providers rather than by businesses using their own private branch exchanges. Using these systems can provide businesses with a number of benefits, including a reduction in costs related to credit card sales transactions.
Costs of Accepting Credit Cards
Businesses that accept credit cards from their customers during sales transactions incur a number of unique costs, such as credit card processing fees. However, the cost that is most relevant to hosted phone systems is the cost paid to setup and maintain a phone line used to process credit card transactions.
For businesses using traditional telephone systems, it makes sense for them to set up a phone line solely for the purpose of processing credit card transactions because their phone lines can’t be used for multiple purposes at the same time. Sending the credit card information to be processed using the same phone lines used for their other operations means impairing not only the efficiency of their salespeople but also that of all the other personnel using those lines.
As a result, businesses using traditional telephone systems must not only pay the installation costs for adding a new phone line to support credit card sales transactions; they also need to pay the costs for continuing to use that line month after month. Although the monthly charge on a separate phone line is likely to be fairly small for most businesses, that expense does add up over time.
How a Hosted Telephone System Can Help
Hosted phone systems can eliminate this source of credit card machine cost entirely because companies using a business phone service don’t need more than one phone line. Businesses using hosted phone systems can send the credit card information to be processed through the same phone system that they use for everything else. As a result, businesses using hosted tphone systems pays less in phone service fees than their more traditional counterparts.
Businesses using old-fashioned telephone systems must set up and maintain a separate phone line dedicated to processing credit card transactions if they accept credit card-using customers. Over time, the money paid to maintain these separate phone lines add up and can become burdensome. A hosted telephone system can help eliminate these costs because it eliminates the need for a separate phone line.
- Traditional telephone systems require a separate phone line to process credit card payments.
- Companies that use hosted phone systems eliminate the need for a separate phone line.
- Business can save money over time by reducing phone line costs through hosted phone systems.
Interested in installing hosted phone systems for your business? Contact us today to get started!