In a recent interview with Trends Magazine, Cédric Lenaerts, CEO of Axepta BNP Paribas, shares his insights into the future of electronic payments and the diverse solutions Axepta BNP Paribas offers for businesses of all sizes. He explains how companies can make the right choice regarding payment terminals and what factors are crucial to keeping total costs low. Read the full article as it appeared in Trends below!

The Right Payment Solution for Every Business

As an entrepreneur, you naturally want to be paid correctly and on time for your services. Accepting electronic payments plays a very important role in this. What costs are involved? What payment plans are available? And which one should you choose? (Text: Frederic Petitjean)

Electronic payments via bank cards and even smartphones have been on the rise for years, especially since merchants, from July 2022, are required to offer customers the choice between paying electronically or with cash. This raises questions for businesses as well: should they opt for a fixed or mobile payment terminal? Should they buy or rent a terminal? And how do they weigh transaction fees against rental costs?

A Range of Possibilities

“Today, there are many solutions available on the payment terminal market. Comparing installation, transaction, and maintenance costs has never been more important,” says Cédric Lenaerts, CEO of Axepta BNP Paribas, a subsidiary of BNP Paribas Fortis that offers payment solutions for public institutions, liberal professions, SMEs, and large companies. “Payment terminals can be purchased or rented with a fixed monthly fee. On top of that come transaction fees, and here too there are several options. We have the ‘Flex’ plan for businesses with low transaction values, like a bakery or a doctor. Then there’s the ‘All-In-One Grow’ plan for start-ups, with a fixed monthly fee that includes a certain amount of transactions. This allows merchants to have full control over their costs and avoid surprises. Finally, we have the ‘Classic’ plan with two possible subscriptions, which is very suitable for companies with high transaction volumes and higher-value transactions. The subscription fees are easily offset by low transaction fees.”

Total Cost of Ownership

The experts at Axepta BNP Paribas have all the knowledge and experience necessary to help businesses choose the right terminal and keep the Total Cost of Ownership as low as possible. “Several parameters are important,” says Lenaerts. “The number of transactions, the average value, and the type of card used most frequently. Also: is one terminal enough, or are multiple terminals needed for different staff members? Finally, it’s convenient if the payment solution is compatible with the existing cash register system. In any case, we help tailor the right choice to benefit your business.”

Service is Invaluable

Sometimes business owners default to the cheapest purchase option and lose sight of transaction costs. This can turn out to be costly in the long run. “A particular terminal may be cheap, but transaction fees can accumulate and become expensive over time,” he says. “It’s also a good idea to look for ‘hidden’ costs, such as reporting fees, file management fees, or fees for transferring funds to a bank account. At Axepta BNP Paribas, all of these services are free. And let’s not forget: problems with a payment terminal can have a significant impact on a business’s revenue. A supplier who can resolve issues on weekends or evenings, and who can come on-site, is worth their weight in gold.”

QR Code

Finally, more and more payments today are being made via QR codes. The costs of these transactions are limited, and many customers also enjoy paying with their smartphone, especially when shopping online. “However, generating the code, scanning it, and verifying it often take unnecessary time. Reporting and paying out QR code transactions are other potential downsides our customers experience,” Lenaerts explains. “Merchants prefer all their electronic payments to be consolidated in one report and credited to their bank account as quickly as possible. Axepta BNP Paribas offers free next-day reporting via a platform and ensures automatic payment of transactions to a bank of choice. This way, merchants can easily close their daily accounts and have a clear view of their daily revenue.”

Source: Voor elk bedrijf de juiste betaaloplossing