There are many benefits to having credit card processing services available to your customers. Perhaps most significantly, it is almost guaranteed that your sales will increase as you make payment options more flexible. Many businesses see an increase in sales volume, often to two or three times their previous sales numbers! But implementing credit card payment options do more than just increasing your sales.
In addition to seeing a huge increase in sales volume practically overnight, offering credit card processing services helps to legitimize your business in the eyes of your potential customers. Customers often associate the ability to handle credit card payment as a surefire sign that a merchant is “the real deal.” In fact, business studies show that simply displaying the logos of respected credit card companies such as Visa and Master Card as accepted forms of payment creates a sense of trust within potential customers, because they associate those names with reliability and quality. Building trust with your customers (and potential customers) is an excellent way to both boost sales and improve the status of your business within your market.
Offering credit card processing services also improves the cash flow of your business. Even if adding credit card payment options wouldn’t increase your sales, it would improve your cash flow because money from credit card sales can be delivered to your bank account instantaneously, without dealing with time-consuming invoices (which cost you time and money to create). Instead of waiting for payment, and then waiting for checks to clear, your get your money quickly and easily, directly to your bank account where you need it.
Another huge benefit of adding credit card processing services is that it opens the doors for Internet-based sales. More than nine out of every ten Web purchases is made with a credit card, so if you currently sell (or would like to sell) pretty much anything via the Internet, you alienate 90% of potential buyers if you do not accept credit cards. For online business, credit card processing services are not merely beneficial – they are essential.