Accept credit cards at your business

Why accept credit cards?


In today’s business environment you need to take advantage of every possible form of payment for your customers. Approximately 40% of today’s retail purchases are either by credit or debit card.

Consumers mainly use credit cards so they do not have to pay for purchases immediately. This also works in the merchants favor due the fact that most individuals spend more on purchases when using credit than cash. This figure is 20% or more. Yes there are fees associated with accepting cards, but for most businesses this amount is negligible compared to sales paid for by credit cards.

Another factor that drives credit card sales are the rewards offered by card companies on credit cards purchases. Many individuals will look to use their cards to help earn points and rewards for flights, hotels, goods and even cash back rebates from their card companies. This alone has pushed many to use cards that normally would not.

As a business owner, not accepting electronic payments and having your competitors due so will cost you business. If you offer the same products or service as someone else but do not accept cards as they do, consumers will not even bother with your offerings if they are looking to make a purchase using a credit or debit card. You will not even know that customer is lost because they will not even attempt a purchase at you place of business. Your bottom line will be affected without you even knowing how many customers you possibly could have had.

In these tougher economic times, credit card acceptance is a must for your business to attract as many possible customers. They need to purchase your goods and not your competitors.