If you’ve been keeping up with the Canadian POS Corporation Blog, then you’re very well aware of the various benefits of accepting credit cards. We’ve researched a variety of sources from all over the internet and they’ve all confirmed the same thing. It is greatly beneficial for a business to accept credit and debit cards as methods of payment. But yet, there is still need for more research!
We completely understand the concern that some business owners have about accepting plastic. Many are under the impression that the costs for doing so will outweigh the benefits that they will receive in return. But that has been proven to be untrue. One of the key reasons for this is the simple fact that consumers are using cash less and less. It actually appears as if society will get to a point where it uses no cash at all!
This is hinted on the Intuit Small Business Blog when it reveals that “according to the 2008 Study of Consumer Payment Preferences, conducted by BAI Research and Hitachi Consulting, 41 percent of shoppers say they have cut down on their use of cash over the past two years. And 97 percent of these respondents said they are opting for credit, debit and gift cards instead.”
The blog goes on to note that credit card purchases are now being considered “the bread and butter of most online businesses”. And we all know just how popular online shopping is. We have our bets placed on the idea that this coming holiday season, people will be shopping online more than ever. Naturally, that means more credit card purchases are on the way.
Your sales are “very likely to rise if you start accepting plastic” says the Intuit Small Business Blog. We consider that an understatement. Our experience has shown that sales are guaranteed to spike significantly if you go from a cash only company to one that accepts Visa, MasterCard and Interac cards as methods of payment. The blog actually lists a number of additional benefits to plastic acceptance.
Credit cards encourage buying. “Paying by credit card makes buying an item or a service very easy,” reads the blog, “Customers will appreciate being able to complete transactions quickly and without fuss. And the simpler it is for someone to make a purchase, the more likely they will be to do so.” Credit cards promote impulse purchases. Customers tend to spend more when they’re not worried about having enough cash to do so.
Consumers like the flexibility of credit cards. Credit cards, as you know, allow customers the flexibility of paying over time. This is another reason why they tend to spend more if you accept such cards. For a customer, using Visa or MasterCard means not having to pay off the purchase all at once if he or she doesn’t wish to. Having this type of flexibility is very comforting.
We’re only scratching the surface here. In our next blog, we’ll continue to take a look at more benefits to accepting credit cards, as outlined by the Intuit Small Business Blog. We’re always interested to read what others have to say about the benefits of accepting plastic. And we’re always happy to pass along those benefits to new clients. Accept credit and debit cards today by contacting Canadian POS Corporation at 1-877-748-2884.