In our last blog, we took a look at an entry into the Intuit Small Business Blog that outlined a number of benefits to accepting credit and debit cards at your place of business. It goes without saying that the Canadian POS Corporation staff believe strongly in the benefits of plastic acceptance. Our experience has shown us that it significantly boosts sales.
As the Intuit Small Business Blog points out, however, there are a number of other benefits. Not only does accepting credit and debit encourage your customers to buy from you without worry about how much cash they have on them, but it also provides them with the peace of mind in knowing that they won’t have to pay off their purchases in full if they don’t want to. The benefits only begin there!
People tend to spend more with credit cards. It’s one thing to encourage customers to spend money in your store. It’s another thing to encourage them to spend more than they normally would. As the Intuit Small Business Blog confirms, credit cards encourage the purchasing of “big ticket items”. These are larger purchases that most people wouldn’t be able to pay for if only cash was accepted.
Credit card payments can increase cash flow. When you accept credit cards, you get funds directly deposited into your business’ bank account. The process only takes a few days, at most. When merchants have to bill their customers, they often have to wait months to receive payment. Cheques are susceptible to bouncing as well. Credit cards add security to your sales.
Credit cards payments can make your life simpler. Think about it. You don’t need to go to the bank to deposit a cheque or cash. You don’t need to continuously call your client looking for your payment. Accepting credit cards can significantly help you to erase any debt you may have. There’s nothing like having money deposited directly into your bank account for you.
You can reach a wider audience. As mentioned before, accepting credit cards allows you to sell your products and services online. There’s really no better way to accept payments if you plan on doing business with customers from all over the world. As the Intuit Small Business Blog puts it, “credit card transactions make the process of selling an item to a customer in Scotland as easy as selling to someone who lives down the street.”
Credit cards encourage trust. Accepting plastic makes you look good. Quite frankly, consumers tend to look at companies that don’t accept credit and debit cards as lower-level, unprofessional and potentially untrustworthy operations. When you accept Visa, MasterCard and Interac at your store, it adds to your brand’s legitimacy. It’s a great way to establish your business as an identifiably serious one.
Your competitors are probably doing it. Reads the blog: “Chances are most of your competitors already offer customers the option of paying by credit card. If people are given the choice of buying a product or service from two vying businesses – and one accepts credit cards – this factor could be enough to sway them.” Accept credit and debit cards today by contacting Canadian POS Corporation at 1-877-748-2884.