People love using credit cards. Now, we’re sure that readers of the Canadian POS Corporation Blog have read this sentence before. Many, many times, in fact. But that’s not because it just happens to be our opinion. It’s the truth! Canadians have especially shown an affinity for paying with plastic. And many of our blogs have detailed the various reasons why. These reasons have come from industry experts from all over the world.
On our blog, we happily share the credit (see what we did there?) when it comes to informing the public about why credit card acceptance is so important for business owners. Now, as a business owner, it’s important for you to not just know why should be accepting credit cards as methods of payment. You should also be aware of why people love to use them so much. That way, you will be able to better establish a rapport with your client base.
You see, when you speak to the needs of your clients, they really appreciate it. And there’s no better way to speak to their needs than to truly understand them. On StreetDirectory.com, Cynthia Stewart communicates as much by listing a number of reasons that people tend to apply for credit cards. When you know what makes customers tick, you end up getting more customers. So how will accepting credit cards help your business? By knowing why people love using them. Here are five reasons.
1. No need to carry cash. The plastic does it all. “Imagine carrying 10000 bucks in your pocket,” writes Stewart, “The anxiety, insecurity and simply the bulk will keep on nagging you. People like to avoid this feeling and a credit card helps them achieve this.” In other words, you provide your clients with a great convenience by allowing them to pay with plastic. Not having to walk around with a lot of cash is great for peace of mind.
2. Rewards, rewards and more rewards. We often say that this is among the top reasons that people prefer paying with plastic. Simply put, they get more for their money. “Cashback, travel, airmiles, stay in hotel, special stores discounts, you name the reward and the credit card companies have it,” explains Stewart, “Coupled with a great customer service program, this becomes a big factor luring people to take credit cards.”
3. Convenient online shopping and purchase protection. Another hot topic these days is online shopping. With the holidays fast approaching, you’ll definitely want to take advantage of this worldwide phenomenon if you plan on cashing in big. As Stewart informs us, “secure online transactions have created a boom in online spending. Credit cards are the most favoured means to pay and buy things online.”
4. To help with money in emergency situations. There’s nothing like having a card on you to come through during a clutch situation. “Credit cards can be used to withdraw cash from ATM machines, which are available at numerous locations,” she remind us, “Though, it is not advisable to withdraw cash using credit cards because there are heavy fees and transaction charges to pay but, people do so because the demands of the situation are too overwhelming.”
5. To establish a credit history. Another big benefit to owning a credit card, establishing a credit history helps consumers to work towards being able to secure large purchases such as cars and homes. As explained by Stewart, “the way you use credit cards and repay your balances are recorded by banks and reported to credit bureaus. This builds the credit history. People with good understanding of finances use their credit card wisely and build up a solid credit history.”
Give your customers the ability to use the credit cards that they love so much. Call Canadian POS Corporation at 1-877-748-2884 to either upgrade your machines or begin accepting plastic today!