4 Benefits To Accepting Debit Cards

Canadians are known for using their debit cards. Research has shown that we’re among the biggest users of debit cards in the world. Is there anyone out there who doesn’t have an Interac card? When you think about it, we all pretty much need one. Even if you still insist on using cash to pay for your items, you will often need your debit card to withdraw the cash from your bank account.

So, as a business owner, are there ways that you can take advantage of the fact that nearly every Canadian walks around with an Interac card? Of course there are! Equipping your place of business with a POS terminal will ensure that you’re able to accept debit card transactions as methods of payment. And why wouldn’t you want to? You’re bound to increase business by not turning away customers who don’t carry cash.

On Money-Management-Made-Easy.com, there is a list of reasons given to accept debit cards at your establishment. Well, to be more accurate, the website outlines a list of benefits to using debit cards as a customer. Considering all of these benefits as a business owner, it would be reasonable to believe that your business would enjoy even greater success by allowing for Interac to be a method of payment.

Convenient. Debit cards make the purchasing of goods a very easy thing to do. With the swipe of a card, a customer’s bank account is directly debited. It’s that simple. There are no slips to sign – only a PIN code to punch in. No personal information is given from the customer to the merchant, so it’s not at all an intrusive way to make a purchase. The process of paying is also a quick one. Debit cards make shopping easy!

Good For Accounting. Paying for purchases using debit cards allows for easy record keeping. Customers may either check their account balances as well as their purchasing history online or collect monthly statements to detail their spending. By keeping paper trails, customers will find easier times managing their funds and keeping tabs on what it is they spend each month.

No Interest Rates. Paying with credit cards is extremely convenient as well. The major difference, of course, is that credit cards allow shoppers to pay for their purchases over time. This can come in very handy for customers who may need to make larger purchases. Interac cards, however, have no interest rates as there is no period of time within which a customer pays for a charge. Purchases are always direct debits.

Cash Back. Many merchants offer customers cash back options. Perhaps, this is something you can offer your customers when you accept debit cards at your place of business. This is yet another convenient bonus to using an Interac card. A customer can both make a purchase and withdraw cash at the same time. The cash back withdrawal simply reflects as a debit from his or her bank account.

Canadian POS Corporation offers its customers the ability to accept Interac cards using top-notch POS equipment. We also offer the most affordable rates in our industry. If you’re still only accepting cash, it’s time to grab hold of the many benefits that accepting debit cards will bring you. Give us a call at 1-877-748-2884 to get set up with your new POS machine within three days!