Top 10 Reasons to Accept Credit Cards
Reason #1- Accepting credit cards adds credibility and builds trust.
Grabbing a cardholders attention and establishing a sense of trust in your business is proven to increase a business’s sales. By displaying the logos of the credit cards you accept at your cash register and on your website, you can do just that. Customers have strong relationships established with the cards they choose to have in their wallet, seeing that their chosen cards are excepted in your store build trust and a more personalized experience. It has been proven that a stronger sense of brand loyalty leads to more sales, thus increasing your bottom line. Merchant Services LTD accepts all forms of credit card payments.
Reason #2- Accepting credit cards can increase sales.
Moving your business from a cash-only structure to one that accepts debit and credit cards will have a great impact on your business. Accepting credit cards broadness your customer base, increasing the volume of potential sales.
Reason #3- Credit cards promote buying especially impulse buying.
Shoppers are more inclined to spend more when their transaction is being completed with a credit card rather than cash. Being able to purchase items quickly and efficiently allows customers to feel in control. Having to locate an ATM or write a check can be a deterrent for many potential consumers.
Reason #4- Accepting credit cards helps level the playing field with your competition.
In today’s economy, it is accepting credit and debit cards are imperative for maintaining your competitive edge. If your place of business accepts a credit card that a consumer uses, they may be more likely to complete a purchase with you versus another vendor.
Reason #5- Accepting credit cards can improve your cash flow.
Once you begin accepting credit and debit cards your business should benefit from an improved cash flow. Due to the electronic process of credit card transactions, there is no more waiting for checks to be deposited into your bank and then cleared. Billing and waiting for customers payments can be tedious. Accepting credit cards streamlines the process and leaves less room for errors when handling cash.
Reason #6- Accepting credit cards is a necessity if you do business online.
Purchases made online are predominately paid for with credit or debit cards. If you are an e-commerce merchant, accepting credit cards is essential to the success of your business.
Reason #7- Accepting credit cards reduces the risk of accepting a bad check.
Credit card merchants such as Merchant Services LTD deliver an advanced chargeback management system. Accepting credit cards and having an established relationship with a merchant account provider insulates your business from the potential risk of a bad check or even a bad credit card. A reputable merchant service provider can safeguard your customer’s data, leaving your business to focus on product sales rather than identity theft.
Reason #8- Credit cards are easy for shoppers to use.
Often times customers choose certain credit or debit cards because they offer extra incentives to encourage spending such as mileage points or cash back bonuses. If you are a merchant who accepts all forms of payments a potential customer may choose your business over another because their purchase will lead to earning those extra incentives.
Reason #9- Accepting credit cards is a small business expense.
The landscape of credit card processing has changed drastically over the last ten years. Credit card processing is highly-competitive thus finding a package that is suited to your business and budget is very likely. Quality merchant service providers offer transparent pricing models and tailor-made solutions that can outfit even the smallest business. Accepting credit cards has been shown to increase sales, therefore, delivering a strong return on investment.
Reason #10- Getting set up to accept credit cards is quick and easy.
At Merchant Services LTD, we can process your merchant account application immediately and have you ready to process credit card sales within 24 to 48 hours.