Blue Flower


Are you still not accepting credit cards for payments in your business? If so, you are missing out on many potential sales. Small businesses should move and follow customers where they are. Apart from this, they should provider the payment options that would work for customers. Below are some benefits of accepting credit cards.


i) Legitimize your business

When you start accepting credit cards, customers will know you are a legitimate business. This will increase their confidence in your products or services. Displaying the logos of credit card companies on your website or cash register will grab your customers' attention. When shoppers see familiar credit card brand logos at your store, they come to trust you. This makes it easy for them to purchase.


ii) Increase sales

Accepting credit cards will boost your business sales. Today, many customers are moving from using cash only to paying for goods and services using credit and debit cards. Therefore, accepting credit card payments will significantly increase your customer base. As you get more customers, you are likely to learn more and make more sales and in turn improve your bottom line.


iii) Level playing field

Accepting credit cards in your business helps you to be at par with other businesses in your industry. If your competitors are already accepting credit cards, you will have taken care of this competitive advantage. What will remain now is to use other strategies to get more customers.


iv) Increased Buying

When you allow customers to pay for items using credit and debit cards, you will be encouraging them to buy. Shoppers who use credit and debit cards to shop feel more in control. The customers can easily pay for items through their cards, which is more convenient that having to write a check or go to an ATM to withdraw cash. A number of studies show that customers who pay for items using plastic are more likely to spend more than those who pay using cash. This can be due to the fact that they can spend as much as their credit line allows.


v) Improve Cash Flow

 Transactions processed by credit card payment services providers are settled quickly. Depending on the payment processing vendor you are using, the funds may be deposited in your account in a few days. This means you don't have to go through the inconvenience of waiting for a check to clear and hence cash flow problems are significantly eliminated.


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