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Why should your business accept credit cards?
02/17/2008 - By Charles J. Di Bartolo Credit Card Terminal
Your gateway to more sales
Today’s businesses are offered more ways to spend their hard earned dollars than ever before. Many of these offers are unnecessary. Merchant services or accepting credit cards is an expense that every business should consider.
Why should a business accept credit cards?
Hopefully this article will show you a few reasons why.
Try to think of a department store or major chain that doesn’t accept credit cards. These business entities have done the research that shows shoppers buy on impulse. Today’s consumers are offered more ways to spend their hard earned dollars just like the stores they buy from. Consumers don’t have the time they had twenty or thirty years ago. They gravitate towards the fast and easy ways to shop. Giving your customers more ways to pay makes it easy for them to make a purchase.
On average consumers spend twice as much on a credit card than they do with cash. Buying by credit card helps alleviate the pain that a consumer experiences when making a large purchase. Taking credit cards at your business relieves you and the consumer from worrying about the financing portion of any purchase. Consumers can buy now and worry about paying later.
Taking credit cards is easier than taking checks. People prefer to whip out a credit card for a purchase than having to get out the checkbook, write out a check, make a record in their balance book and reconcile their checking account. Can you blame them? A lot of paperwork goes into check-writing. This is another reason big business is offering corporate credit cards to their employees. The costs of book keepers tracking expense reports, cutting checks, mailing to vendors and keeping the records are astronomical compared to offering credit cards to employees. The credit cards themselves keep track permissions, expense categories, taxes and reconciliation for large and small companies alike. If you aren’t accepting credit cards at your business you are missing out on some of these customers.
Look for the decals!
Many consumers check the front door of an establishment before going in. Some of them are looking for the credit card decals. They may not have the cash on hand to make a purchase but their credit cards are always present, ready to offer them the convenience of a purchase today with a payment later on. If you are a store owner that accepts credit cards, but doesn’t proudly display the credit card decals you may be missing out on business.
Don’t forget the rewards!
Many credit card companies offer rewards points in the form of hotel stays, airline tickets, cash and gifts. It is true that the average merchant is paying for that privilege, but it is a major incentive that brings a lot of business to shopkeepers.
At the end of the day there are a lot of reasons to accept credit cards at your business. The main one is that your customers prefer to use them, and if you’re not accommodating them someone else will. Every business should seriously consider taking credit cards at their business. In doing so a company can also offer gift cards and loyalty rewards cards at their business through the same point of sale terminal, but more about that in another article coming soon. If you have any questions about accepting credit cards feel free to call me.
Charles J. Di Bartolo
National e-Pay Services, LLC
973-390-4719
charles@nationalepay.com
http://www.nationalepay.com
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