Any business, no matter how small should seriously consider credit card processing for many reasons. Credit cards are the way the majority of consumers pay for their purchases today and will the numbers will continue to grow. Here are eight reasons you should have an online merchant account.
- Credit Card Sales Will Boost Your Bottom Line: Accepting credit and debit cards from your customers will increase your sales. Customers who pay with their credit cards will usually spend more than if they were to pay with cash. Research prepared by The Sloan School of Management at MIT found that consumers will spend more (as much as 100 percent more) when using a credit card.
- Credit Card Processing Improves Customer Trust: When you process credit cards, you have the trust and backing of well-known banks which legitimizes your business and increases customer trust. Trust creates strong relationships and return customers.
- Credit Card Processing Levels The Playing Field: Your business competitors are accepting credit cards and may be taking a portion of your business if you don’t. Make it convenient for your customers as well as level the playing field so customers aren’t forced to buy somewhere else.
- Credit Card Processing Assists In Business Management: Streamline your business and all your business transactions through an online merchant account. Electronic payments improves all areas of your business and your bottom line.
- Credit Card Processing Eliminates Bad Checks: Customers who write checks with insufficient funds creates a headache for you. Credit card processing prevents a bad check from ever happening in your business again. Most credit card processing companies are secure and protect both you and your customers from identity theft and other business draining situations.
- Credit Cards Offer Consumer Convenience: Today’s credit card companies offer point systems to consumers so every dollar spent with that credit card counts for mileage, discounts and other attractive benefits. Accepting credit cards opens the doors to new customers, repeat customers and as mentioned above, a higher sale.
- Credit Card Processing is An Investment in Your Business: Yes, there are credit card processing fees associated with accepting credit cards, but the pros outweigh the cons for your business. By allowing your customers to use their credit cards, your bottom line increases (many times enough to pay for the processing fees) which is an investment in your business.
- Credit Cards Are Imperative for Online Sales: Online sales are imperative in today’s competitive business environment. Consumers use their smart phones, tablets and other mobile devices for many if not most of their purchases. If you aren’t an e-commerce merchant with a website presence, you must make a commitment to your business to become one and start accepting credit cards today.