If you live in Canada, it should come as no surprise to you that credit card use is popular. As well, you know that the vast majority of Canadian merchants accept credit cards. The logos of Visa, MasterCard and American Express are quite often displayed at retailers, restaurants and other places to shop. So why are you not accepting credit cards? There are numerous reasons to give up the entire “cash only” thing. Perhaps, you should be reminded of them.
Here are five reminders as to why you should accept credit cards:
1. It will boost your sales. This is a point that we’ve made many a time on our blog. But, it’s certainly worth reiterating. Your customers can’t make all of the purchases they wish to make if only cash is accepted. Most people don’t walk around with a lot of cash on them – if they’re carrying any cash at all. Accepting credit cards gives shoppers the opportunity to spend to their hearts’ content.
2. It will increase your average transaction size. As we just mentioned, “cash only” businesses limit their customers. Not only does the archaic policy force shoppers to minimize their purchases, it also disables people from affording big ticket items. Credit card acceptance allows for both more sales to be made and for bigger transactions to be processed. Businesses that begin to accept credit cards often immediately see a spike in their average sale amounts.
3. It will increase the size of your customer base. If you want more customers to come into your store (and what business owner doesn’t?), then display those logos that we mentioned earlier at the front of your store. See if it doesn’t attract more people to enter its doors. It’s really that simple! When you offer a payment option that most Canadians prefer, you’re simply going to have more of them shop at your place of business.
4. It will improve customer satisfaction. All business owners want their customers to be happy. Accepting credit cards is, quite honestly, a huge part of satisfying customers. You are giving them payment options that they want. You are making their lives easier by not forcing them to walk with cash. You are allowing them to make purchases that they couldn’t otherwise afford. Being plastic-friendly suggests that you are friendly in general!
5. It will heighten your company’s reputation. To be completely honest, there is a stigma that comes with being a “cash only” business in 2016. By today’s standards, not accepting plastic gives a business a very “small time” appearance. To gain consumer confidence, it’s important to communicate that your business is competitive in its marketplace and is relatively successful. Accepting credit cards helps you to establish that image.
“The Houston Chronicle points out that having credit card transaction options shows shoppers and other industry competitors legitimacy,” reports CenturyBizSolutions.net, “Once customers start purchasing from company and are happy with their experiences, word will spread and develop brand image to improve sales.”
Are you looking to take advantage of all of the benefits credit card acceptance can bring to your business? For more information about both the Countertop and Wireless POS terminals offered by Canadian POS Corporation, don’t hesitate to give us a call at 1-877-748-2884 or email us at info@localhost.