Trading Portal
Business Services, Retail and Ecommerce

The Importance of Transfer Speed

August 24, 2017 by · Leave a Comment 

How quickly money can be transferred from one bank account to another is very important. For a business, transfer speed is how fast the money will be transferred after an item or labor service that has been completed. Small businesses especially, count on transfer speed because it is the main way the business can continue to run.

The biggest problem for businesses is discovering how credit card processing resolves and the payment goes through. Transactions usually take a couple weeks to a few months before receiving the money, after the payment has been accepted. This turnaround time can hurt smaller retailers if it takes too long to receive cash in order to place a new order of stock, or to pay employees.

It is helpful to call customer support for payment processors to see how quickly they make transactions. Be aware there may also be differences in the time it takes for you to receive money based on the type of card your customer used at the register.

It is best to do some research when looking for a new payment processor. It may not be the easiest task, but it is best to get more knowledge on transfer speed. Getting information on the payment processor doesn’t hurt either.

Another factor is how often you upload transactions to your payment processor. It’s a good habit to try and do this daily, usually at the close of the shift. Have someone on your management staff trained in how to upload these transactions at the end of the night, so you’ll have regular cash flow in a few months.

The time it takes for a browser page to load also ties into transfer speed. It determines how whether or not a user will continue to shop on the site. The issue with the speed on websites is it contains multiple images through the pages. Too much content on a page can drastically slow down the time it takes a page to load on a browser. Compressing thumbnails may sometimes be helpful when trying to speed up you webpage.

Transfer speed plays a big part in running a successful business. If your payment processor is taking too long to move money from your customers to you, then it may be time to research a replacement.

Article submitted by is the highest rated payment processor for online and retail businesses for six years running.

Comments are closed.