Business owners who are concerned about accepting credit cards can now consider the many benefits that are associated with accepting credit cards from customers. Doubling a business’s sales for the year can be one of the greatest benefits that is conferred through acceptance of credit cards. Here are some other benefits that business owners may wish to consider if they are on the fence about accepting credit cards.
1. Get a Significant Increase in Volume
Businesses that decide to accept credit cards will frequently experience a high surge in the number of sales that they receive in a month. This may ultimately mean that the sales for a given year are doubled or tripled. Business owners will be able to sell more products and serves to a greater range of clientele.
2. Improve Cash Flow
Businesses will no longer have to wait for a turn-around time in receiving funds from a transaction. With checks, it can be frustrating for business owners to wait for checks to clear for a bank. Business owners will never have to send another invoice again in search of payment from customers. Credit cards provide an easy access to cash for merchants.
3. Attract More Online Customers
Expert studies have shown that over 90 percent of Internet users pay for items purchased online with a credit card. Business owners must be able to accept credit cards if they wish to take a piece of this pie. Otherwise, merchants stand at a risk for missing out on 90 percent of the customers that could be found on the Internet.
4. Give Customers the Choice
Customers enjoy having choices in deciding upon which type of cash payment to use. Customers may prefer to use their personal credit cards so that they can accumulate rewards points or gifts. If a merchant does not accept credit cards, then a customers is just as likely to purchase a similar product from another merchant who does accept credit cards.
5. Set Up Access in Less than 48 Hours
To set up a merchant account that is ready to accept credit cards, the entire process takes less than 48 hours. One will not have to worry about waiting for days for an account to clear.
These are the top benefits that merchants can expect to experience if they accept credit cards. Because so many online users pay for purchases with credit cards, it is essential to accept them.