5 Things Finance Guru Handel “Del” Henri teaches in E Commerce
Finance guru Handel “Del” Henri has a few things he does right in E-Commerce that anyone in the business can learn from. Del Henri owns H&H INVESTMENTS and has helped many businesses financially, especially advising them to switch to better processing payments that offer better rates.
Not only is he a finance guru, but he is also a philanthropist and in his own time he donates food to the homeless and stands for more housing for the homeless. He strongly believes in selflessness and helping people, which is why he wants to pass on his torch.
The ethical core of his business is making sure that his clients are always put in a better position after doing business together. He always has a strong connection with the people that he does business with and is always remembered for helping them selflessly.
Here are his 5 tips that he believes will make a change for E-commerce providers:
It is all about negotiating
Your main leverage should be your transaction volume; this is what can help negotiations take place. If you are constantly selling, your performance for transactions will increase, adding more value to the processor.
If this is consistent for you, then you have the chance to negotiate with the suppliers due to the volume of processing. The more you give, the better negotiation you will receive since they can overlook things in different areas.
Don’t let fraud get in the way
When running an e-commerce shop you will encounter issues such as fraudulent purchases. The more fraudulent actions you receive, the higher the security risks will be raised as a merchant; thus raising your credit card fees for processing will be.
If you encourage your clients to swipe their cards by using swiping phone apps such as Square, this can decrease the risk of fraud which then decreases the credit card processing fees. You can also use a similar platform like Apple pay, which protects the security information of the client and verifies that the purchase is legitimate.
Security information such as the postal code and CVV code can be used in these circumstances.
Look into using AVS
AVS stands for address verification service and it is a system that helps verify the cardholder’s billing address with the card issuer. It is beneficial for those in the e-commerce business and it limits chargebacks.
How it works is that once the customer is in the check out section, they are able to enter their billing address, which is then used to be compared to the address that is used for the issuing bank. The customer will then receive an AVS code which allows them to accept or reject the transaction, once the issuing bank has run the results.
Set up the account and terminal correctly
It is very important to set up the account and terminal correctly for your e-commerce. If you do this incorrectly, it can affect your credit card processing fees since you would be providing incorrect business details. In order to decrease your credit card processing fees, it is best to do batch processing, that way it is cost-effective.
Always consult with credit card processing advisors
If you are just getting into this game, you will have a lot to learn and alot of bills stacking up. This is why it is important to consult with a credit card processing advisor such as Handel Del Henri who can give you the financial advice that you need in order to improve your business and actually save money. They can help you understand the difference between the myths and facts about credit card processing fees, help build strong relationships, and divert you to the right path.
As an upcoming entrepreneur, it can be hard structuring a plan for your business if you have very little knowledge in that field. It is never too late to branch out into a different field, however, getting professional advice can always help you. Having an e-commerce business is trending right now, for everyone is currently buying and selling online. In fact, if your e-commerce business is successful after 3 months you can generate an average of $150,000 as monthly revenue.
Even brands abroad, like Marcoahz fashion, believe in consulting with Del Henri. The founder Marco Antonio Henriquez Moreno says that “People like Mr. Henri can help businesses impact their profitability by incurring substantial savings. It makes sense to review processing arrangements on an annual basis”.
More and more consumers every day are purchasing goods online, since it has become a huge habit to shop online in a consumer’s free time. Not only that, but there are online e-commerce stores that also offer next day delivery, pick up in-store locations, and online-exclusive discounts. There is a decrease in revenue when it comes to physical stores, which is why now huge companies are now focusing on online stores. If you are considering starting up an e-commerce store, then now is the time to start it up and follow these tips.