Accepting credit cards is more than the simply learning how to swipe for service payments. Accepting credit card payment helps grow and enhance your business in a number of ways. Credit card use is on the rise. By 2017, nearly 75% of all business purchases will be put on plastic. Accepting credit card payments is the inevitable future of businesses. Below are five benefits of accepting credit card payments—all of which enhance your business.
Making the move from cash to plastic dramatically broadens your potential customer base. The more customers you have, the more sales you can make. Credit card industry research indicates that accepting credit cards increases business revenue by over 20 percent. Diversifying how you accept payments makes your services and products more available to a larger market share.
Credit cards are convenient for both the customer and the merchant. Businesses can track their revenue electronically, and customers are happy to have additional options for payment. Electronic transactions clear much faster than other checks and invoice payments. Checks can take anywhere between 30 to 90 days to clear during a debit or credit transaction clear within 24 to 48 hours. These payments make payment cycles much quicker by improving cash flow and decreasing billing overhead. It’s a significant relief and benefit for any business.
Credit card acceptance is a sign of credibility to current and potential customers. You grab customer’s attention when you display logos of credit cards you accept at you cash register, on your website and even in your storefront’s window. Include appropriate logos of the cards you accept where customers are going to see them. Build on the trust, they have for their credit card brands and have that trust transferred to your own business.
Nearly all of the online transactions are made via debit or credit card. If your business operates and sells products and services online, you cannot afford to NOT accept credit cards.
The transaction flow is conducted automatically with credit card processing. Customers feel in charge when using debit and credit cards. The quick transactions make the process of purchasing easier and more convenient. Additionally, some studies indicate that customers are more likely to spend more when they use plastic over cash due to their line of credit. The automated credit card acceptance allows funds to be deposited directly into your business account. By accepting credit cards, you increase your productivity and focus on growth. Accepting plastic is an inevitable part of future businesses. Modernize the way you accept payments and reap the benefits of happy customers and smooth business.
Posted in credit card processing on Jun 02, 2015