Building a successful business in today’s challenging economy means you need to optimize every single opportunity to make a sale. We understand how hard you work to provide top-notch value and best-in-class service to your customers, but are you giving them the most convenient payment options such as you being able to accept credit and debit cards? Let’s face it, the easier you make it for your customers to pay, the more likely they are to buy.
Here’s Why You Should Accept Credit And Debit Cards
1) Accepting Debit and Credit Cards Adds Legitimacy To Your Business.
By displaying the logos of the debit and credit cards you accept, at your cash register, reception desk or on your website, you grab your customers’ attention and create a sense of trust in your business.
They trust the debit and credit card brands enough to carry them in their wallets, and that trust transfers to the merchants who accept them. The bonus – when they trust you, they’re more likely to buy from you.
2) Consumers Seek Out Merchants Who Accept Credit and Debit Cards
Customers want to choose the method of payment that’s most convenient and beneficial for them. Frequently that means credit cards, especially if those cards offer points, mileage or other awards that are attractive to them. Can you afford to lose a customer just because you don’t offer a credit card option?
Consumers expect the businesses they frequent to have modern, reliable technology for their convenience. By being able to accept credit and debit card payments you make your customers’ day easier, and help them get the most out of their credit card reward programs. That goes a long way towards ensuring that they come back.
3) When You Accept Credit and Debit Cards You Gain A Competitive Edge And Boost Your Sales
When you take your business from a cash-only operation to one that
accepts debit and credit cards, your customer base will expand significantly….and the more customers you attract, the more likely you are to make additional sales….and, remember – your competitors accept debit and credit cards. You don’t want to lose potential sales because your prospects choose a competitor who does accept credit and debit cards when you don’t.
4) Your Business Will Be Enhanced In Your Customers’ Eyes
Research shows that accepting credit cards (Visa®, MasterCard®, American Express®, Union Pay® and Discover®) can increase your business revenue by as much as 25 per cent. Offering your customers a variety of payment options makes your products and services available to a broader client base because those customers who may not have cash on hand will be still be able to make purchases they may otherwise have passed up.
5) Credit Cards Encourage Buying In General, And Impulse Buying In Particular
Consumers, particularly shoppers feel in control when they use credit cards. They like being able to complete transactions quickly and easily without having to run to the ATM for cash or write a cheque, both of which are limited to their available funds. Some studies have indicated that customers tend to spend more when they’re paying with plastic instead of cash, most likely due
to the credit line their card provides..
6) When You Accept Credit And Debit Cards Your Business Is More Efficient
We’ve all been stuck behind the person at the check-out who seems to take forever to count out their exact change. With the convenience of Interac debit and credit card payments, there is no waiting for customers to count cash.
Accepting credit and debit cards also reduces errors on cash handling and facilitates a quicker and easier consolidation at the end of the day.
7) When You Accept Credit and Debit Cards Can You Improve Your Cash Flow
Debit and credit card transactions are processed electronically and settled quickly with proceeds typically deposited into your bank account by your processor the next business day. This means no more waiting for checks to clear, no more billing and waiting to collect from your customers, and less cash to handle. In other words, you get more of your money faster.
Reasons to accept debit and credit cards
8) Accepting Credit Cards Eliminates The Risk Of Accepting A Bad Cheque
One bounced cheque can take a big chunk out of your profits for the day, not to mention the time wasted tracking down the customer to make good on the payment. Credit card transactions are screened as they are processed to reduce the risk of fraud. A reputable merchant services provider like First Data delivers secure credit card processing that helps protect you and your customers from data breach and identity theft.
9) Accepting Credit Cards Is Practically A Requirement If You Do Business Online
The vast majority of transactions on the Internet are paid for with credit cards. If you are an e-commerce merchant, you can’t afford not to accept plastic.
10) Accepting Credit Cards Is A Relatively Minimal Business Expense.
Credit card processing is a highly-competitive industry, so you’re likely to find a merchant services package that suits your specific business needs and your budget. Credit card processing rates are so low even the smallest startup or mom-and-pop business can easily afford to accept debit and credit cards. In fact, many merchants discover that the increase in sales generated by accepting credit cards more than covers the costs involved, making their merchant account an excellent return on their investment.
11) Setting Up A Merchant Account To Accept Debit And Credit Cards Is Quick And Easy
At Canada First, we can process your merchant account application immediately and have you ready to process credit card sales within 3 to 5 business days. Your processing terminal is simple to set up – just plug it in and activate it with a simple phone call. That’s all there is to it.
It’s Easy To Get Started
Canada First is your one-stop solution for all of your payment processing needs.
Partnering with Canada First enables you to accept all major payment options, including Interac Debit, Visa®, MasterCard®, American Express®, Union Pay® and Discover®. We will work with you every step of the way to determine the technology, tools, and services that best suit your needs and your budget. Find out more about how we can help keep you and your business a step ahead of the competition.
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Get in touch and ask us for a quote or ask a question about what solutiuon is best for your business. We’re here to help.