4 Big Time Benefits Of Credit Card Acceptance

Admittedly, today’s blog may belong in the “tell us something we don’t know” category. And that’s because, for the most part, Canadian business owners are very well aware of the many benefits that come along with accepting credit cards as methods of payment from their customers. There are, however, still merchants out there that prefer the age-old “cash only” route. So, to them, we offer a little bit of insight on why a change may be necessary.

But you don’t have to take our word for it. We enjoy researching the works of industry experts on the internet to learn of the various perspectives that exist on the acceptance of credit cards. And while there are those who tend to believe that it is easier and simpler to only accept cash, there is an overwhelming amount of information out there that speaks to the power of plastic acceptance. On CreditorWeb.com, for example, several benefits are listed. Here are four.

1. It increases your profits. Now which business owner wouldn’t prefer to make more money? No matter how successful your company is, the acceptance of plastic is only bound to help for its success to increase. “Many business owners report a sharp increase in profit when they begin accepting credit cards as a means of payment,” reports CreditorWeb.com, “Credit cards allow customers who do not have the money on hand to make purchases from you despite their personal shortage of cash.”

2. It enables you to sell your products online. It’s no secret that we’re living in the era of the internet. People love to go online using their smart phones, tablets and laptops every day to both browse for and purchase new items. Are you allowing your customers to do that? “Online businesses greatly benefit from accepting credit cards, as payment can be made immediately over the internet and your business can quickly ship their purchase without having to wait for a cheque to arrive by mail,” says CreditorWeb.com.

3. It diminishes your past due accounts. Don’t you just hate waiting for your cheques to come in after your services have been provided to your customers? The website also reports that “service oriented businesses will notice a large decline in the number of past due accounts when they start accepting credit cards for payment. A business that sets up a merchant account not only has the ability to accept credit card payments for their professional services, but it also allows them to accept ATM and debit cards as payments.”

4. It lowers your overhead. “Consider this: it will cost you less money in transaction fees to accept a $60 payment from a credit card than it will to create and print an invoice, and mail it to the customer,” states CreditorWeb.com, “When a business provides the ability for customers to pay using credit cards, the number of bad debts the business has is decreased. That increases the cash flow and reduces overhead costs- both necessary in improving the profits of a business.”

You may be thinking that getting the ball rolling on accepting credit cards is a long and arduous process. It most certainly isn’t. “There was a time in the not so distant past that it was very difficult to be approved for merchant accounts,” admits the website, “Currently, it is very inexpensive to set up merchant accounts whether you are a large business with a physical location, or a small business operating only online.”

With Canadian POS Corporation, this is especially true. We provide top-of-the-line POS terminals at the most affordable rates in our industry. We also have the ability to get our new clients all set up within three business days! You’ll be glad that you did. In 2015, plastic acceptance is practically mandatory if you want to compete within your industry. Give us a call to discover how easy it is to accept credit cards today. Dial 1-877-748-2884!