3 Ways Accepting Plastic Can Make You Successful

Are you looking to grow your business? What business owner isn’t? At the end of the day, everyone with an entrepreneurial spirit wants to be a success story. In our experience, here at Canadian POS Corporation, business owners who actively seek to meet the needs of their customers make the biggest success stories. And offering payment options such as credit cards and debit cards has been proven to meet those customer needs.

Here are three ways accepting plastic can make you successful:

1. It grows your customer base. What business owner isn’t interested in adding people to his/her customer base? When people see the logos of Visa, MasterCard and American Express on storefronts, they immediately gain favourable impressions of those shops. Those logos are symbols that communicate “you can shop at this location with ease”. Not to mention, with plastic, there is no need to worry about the currency of the nation you are making purchases in.

On SmallBizTrends.com, Anita Campbell points out that credit cards can be used worldwide and are effectively like a “global currency.” “Because purchases are automatically converted to the appropriate currency, selling internationally with credit cards is easy for both the buyer and you, the seller,” she writes, “If your business has an online presence, the world is your market, not just your city or town.”

2. It increases cash flow. When you accept plastic at your place of business, you are able to worry a lot less about when you’ll have time to make a trip to the bank. Visiting a teller isn’t necessary when your credit card and debit card transactions are automatically deposited into your account for you. The more cash and cheques that you accept, the more often you’ll need to visit the bank. The acceptance of plastic allows you quicker access to getting funds in your account.

“Credit card payments take the waiting out of getting paid,” describes Campbell, “No more waiting weeks for checks to clear, and no more waiting weeks or even months for a payment after sending a bill. Instead, your funds are deposited automatically and directly to your bank, usually within a few days, giving you faster payment cycles and better cash flow for your business.”

3. It makes you eligible to receive cash advances. All business owners could use additional capital to grow their businesses. Advertising, expansion, renovations, equipment repair, inventory, debt reduction, tax payments and buying out a partner are all reasons to try to attain funding for your company. The only problem is that securing bank loans is extremely difficult for small business owners to do these days.

When you accept credit cards and debit cards as methods of payment, you become eligible for programs that will purchase your future sales. In other words, you can receive funding immediately to grow your business by getting an advance on the credit and debit sales that you will be making in the future. You don’t need a credit check and you won’t be charged interest. Instead, you’ll be charged a one-time fee.

Sound interesting? You can contact Synergy Merchants for more information. Of course, you’ll need to be accepting credit cards and debit cards in order to be eligible for such a financing option. And Canadian POS Corporation offers only top-of-the-line Countertop and Wireless POS terminals to help you to do so! For more information, please don’t hesitate to contact us. You can call us at 1-877-748-2884 or email us at info@localhost.