Posted on 02-26-2012
Here's a few quick bullet points on the benefits of accepting credit cards at your business...
Your customers can now choose the way to pay that suits them best: You can offer to accept major credit cards like Visa, MasterCard and American Express OR to accept debit cards. Having this freedom of choice will strengthen customer loyalty to your business while driving revenue.
By offering to accept credit cards as another convenient payment option, you'll be able to service the market for customers who choose to pay with credit only: Many customers enjoy being able to purchase goods with a credit card because they can easily track their spending, earn reward points from card issuers and can still purchase the items they need or want even if they happen to be short on cash.
A business that accepts credit cards encourages shoppers to spend more: By offering an option to pay with credit cards, consumers are able to make sporadic purchases when an item catches their eye. Customers typically buy more when paying with a credit card, which increases your average sale per customer.
It's more secure to accept credit cards: Customers find that paying with a credit card is easier and safer. Also, you get paid more quickly than with checks and more securely than with cash. Cash and checks are risky and more vulnerable to fraud. Counterfeit bills are appearing in all denominations, not just large ones. Checks can bounce or take two days or longer to clear.
Accepting credit cards lends credibility to your business: It is a common conception that only reputable and honest companies accept credit cards. By not accepting credit cards, a business is heavily limiting its profitability.
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