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Cash flow and cost savings are two major priorities for a construction industry facing an increasingly competitive market and razor thin margins. Construction firms looking for ways to protect cash flow and tap into cost savings can turn to innovative payment processing solutions.

There is a strong business case for construction firms when it comes to accepting credit cards. Not only do they offer convenient payment options to clients, they can save contractors time and money and increase cashflow.


For contractors, time is money. Getting paid by check often involves a lot of staff time and resources devoted to keeping track of payments and chasing down unpaid invoices. This is a time intensive, manual process that can also be error prone. In fact, a Levelset 2020 National Construction Payment Report revealed that 80% of companies spend a significant portion of their workweek chasing down payments.

For many contractors, hearing the check is in the mail translates to a long wait until payment is received and the check clears. Nearly 27% of contractors say that it takes between 31 days and 45 days to receive payment after invoicing.

Accepting credit card payments allows construction firms to get paid faster and more reliably. Credit card payment acceptance can also increase operational efficiency by eliminating long invoicing procedures, automatically logging receipt of payment and reconciling payment in real time into business accounting software. This boost in operational efficiency is a significant time saver for contractors.


Many construction firms have shied away from accepting credit cards over concerns about fluctuating fees, long-term contracts and equipment investment costs. New solutions in the payment processing industry include features and programs that eliminate these concerns.

For example, find a company that offers a program with unlimited processing for a monthly fee, which can eliminate up to 100% of credit card processing fees, allowing construction firms to put more money back into their businesses to fund growth. Under this type of program, firms don’t have to contend with rate and fee confusion or worry about processing bills that progressively become more expensive as a result of bi-annual rate increases. A cash discount program also means contractors don’t need to surcharge for credit card payments, a practice that often leaves clients feeling penalized for opting to pay by card.

Cash flow

Cash flow is a consistent problem in the operation of many construction firms, with many contractors reporting they consistently have to chase down payments and suffer from cash flow issues.

Credit card processing solutions allow contractors to optimize payment processes to improve cash flow. When clients pay by credit card, contractors receive funds more quickly—usually within a day or two—which improves cash flow.

Other benefits

Innovative card processing companies can also provide other value-added services to contractors, including the following.

  • Mobile payment capabilities, which are mobile payment solutions that allow firms to accept credit card payments wherever they are—from the office to the jobsite and anywhere in between.
  • Electronic invoicing capabilities, which allow construction firm clients to securely pay through an emailed invoice and allow firms to keep track of their payments in real-time.
  • Contactless card payment capabilities, including credit card terminals with the ability to accept contactless or mobile payments like Apple Pay, Android Pay, Samsung Pay and Google Pay that are quick, secure and contact-free.

While the payment processing industry has evolved, construction firms making the leap to credit card acceptance should be aware that not all credit card processing companies are the same. Firms should partner with a credit card processor that eliminates concerns over issues like costly investment in equipment, being locked into a long-term contract and fluctuating fees.

The right payment processing provider can offer construction firms easy, affordable credit card processing solutions that allow firms to save time, save money and increase cash flow so they can spend less time worrying about chasing down payments and more time growing their business.


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