Let’s face it, we live in a nearly cashless society and that will affect the way you do business. The cash-only business is fast becoming the dinosaur of the retail space, and accepting credit cards is nearly a requirement in today’s business climate. So what are the pros of accepting credit cards at your business? We at PayAnywhere have put together a short list explaining the benefits of accepting cards – both credit and debit – at your business.
Convey a sense of trust. A new business won’t have the credibility of a more established company, so promoting that you’re able to accept credit cards gives you instant credibility with your customers. They trust those companies with their personal and financial information so you’ll be able to garner more respectability when compared to companies that don’t accept credit cards.
The more payment options, the better the sales. Why limit your customers to just cash? Accepting credit cards will open more doors, and hopefully more wallets, because the number of people carrying cash gets smaller and smaller every year.
Credit Cards drive e-commerce. Nearly every transaction on the internet is paid for by some sort of payment card — be it credit, debit or gift cards — so it’s imperative you accept these types of payment cards to have a successful online presence and create an excellent revenue stream.
Plastic is better than a check. If you accept one bad check, chances are you will need to spend valuable time dealing with banks and trying to find the customer to get reimbursed. Because of the high level of diligence done by credit card processors, it’s less likely that you’ll be a victim of fraud when compared to accepting checks.
Impulse buys pay the same as calculated purchases. Credit cards offer a convenience that will help you increase the likelihood of your customers having "impulse purchases.” Customers tend not to balk at a “nice to have” purchase if they use a credit card instead of the harder-to-part-with-cash.
Set-up is easy. Companies like PayAnywhere pride themselves on making the application process, and subsequent set-up of the merchant account, as painless as possible. In fact, if you pick PayAnywhere Storefront, you receive:
- A 10” tablet, stand with a built-in EMV capable credit card reader and an additional free mobile reader.
- A versatile app that allows you to customize PayAnywhere to fit your individual business needs.
- Detailed in-app, and online, reporting allowing you to make informed decisions about your business.
To learn more about the pros and cons of accepting credit cards, visit sba.gov where they have a complete list of how the benefits can outweigh the negatives.
We love getting feedback of any kind from PayAnywhere merchants. Whether it is via email, Facebook or Twitter, or the iTunes App Store, we'll take whatever we can get. We want to hear about your experiences using Pay Anywhere. Remember, if you have any questions, concerns or feedback, we’re just a phone call away. Please call us at 1-877-387-5640.