What are the Advantages of Using Credit Card Machines?
Cash is no longer king in today’s economy, credit cards are the spotlight. How often do you see someone paying for a single cup of coffee with their debit card instead of cash? With all of these credit and debit cards being processed where does this leave the businesses who still prefer to handle cash only? Understanding the advantages of having a credit card machine can assist those companies, who have perhaps, fallen behind the times.
Gains from having credit card machines and upgraded POS systems seem endless. From the flexibility for customers to strength in brand loyalty, the choice can seem rather clear.
Accepting Credit Cards Will Legitimize Your Business
Accepting credit cards legitimizes your business. By displaying the logos of credit cards you accept you grab customer and cardholder attention. If they subscribe to a particular credit card brand that your business accepts, research has shown it develops a stronger sense of trust in your business.
Credit cards can boost sales by giving customers more payment options. Broadening your acceptable forms of payment will, in turn, widen your customer base. After all, there are a lot of people today that do not carry any cash at all!
Your Competition Probably Has a Credit Card Machine
Don’t forget business is all about competition. Accepting all major credit cards can give your business an edge over those who stick with a cash-only transaction policy. Don’t let people walk by your business because you haven’t gotten a credit card machine for easy payment!
Take Advantage of Impulse Buying
Impulse buying is a real thing, and credit cards encourage it. If your business remains cash-only, you are losing out on an entire customer base that may not have the cash in that moment, but don’t mind making the purchase anyways. Flexibility is attractive, having to locate an ATM can make a potential purchase seem ‘not worth the effort.’
Improve Your Cash Flow By Accepting Credit Cards
Processing credit cards is quick and much more efficient than cashing checks and waiting for them to clear. Bonus, less cash to handle can potentially mean fewer mistakes made with the end of day settlement.
Accepting credit cards is a small business expense. With the variety of credit card processing services available, finding a merchant that works within your budget is simple. If you are interested in adding a credit card machine to your store or business please let us know; we are payment processing experts and we are always happy to help.