If your business operates by cash or check only and does not accept credit cards, you are seriously limiting your potential for sales and stunting the growth of your business. If your business could accept credit card swipes and online credit transactions, it would benefit in several important ways.
One major benefit of being able to accept credit card swipes and online credit payments is that credit transaction are more appealing to impulse buyers due to their simplicity and quickness. Credit card holders are generally more wealthy than their no-credit counterparts, and cardholders are much more likely to buy on impulse. In face, market research indicates that Americans with credit cards buy over two-and-a-half times more merchandise than non-cardholders.
Another benefit of accepting credit card swipes is convenience and flexibility. By giving your customers the choice of how they prefer to pay, you actually encourage more transactions and bigger purchases; because credit card companies often offer cardholder reward programs such as frequent flyer miles, reward points, or cash back, many customers strongly prefer to spend their money with merchants who can accommodate their credit cards. Statistically speaking, customers are more likely to make purchases with merchants who accept credit card swipes than one who does not.
If your business accepts credit cards, it will also enjoy larger orders, as people paying via credit card tend to make larger orders on average than people who pay with cash or check. Credit card users also tend to order more often. More orders and larger orders mean more profit for your business.
Another reason to accept credit cards is your competition! Chances are, your competitors already accept credit cards, and for many businesses convenience is a major selling point. If you want to thrive in today’s competitive market, accepting credit is a must!
To learn more about how to accept credit card swipes and online credit transactions, please visit www.intlcardservice.com.