Cash or Card? Give Your Customers the Freedom to Choose
Accepting cards can be very beneficial for your business, and it gives your clients the option to choose between cash or card. In this article we’re going to take a look at 6 good reasons why your business should accept cards and the benefits it can bring to you and your clients.
- Accepting cards helps legitimize your business
Credit card brands confer an air of legitimacy to any business, whether they are displayed on your register or on your website. This is due to the trust that they have built over the years, and this trust is automatically transferred to your business.
- Cards can help boost sales
If you only accept cash and checks, you alienate a large part of the customer base that prefers to make its purchases with debit or credit cards. If you start accepting these cards, your customer base has the chance to broaden dramatically. It’s also important to accept cards if your competition does as well, or else you might lose customers to them.
- Cards encourage buying and impulse buying
Debit cards and credit cards make it very easy to spend money. The shopper does not have to write a check, or take out money from an ATM before making a purchase, which makes it easier to spend more money. Certain studies have shown that shoppers will spend more when they are using cards instead of cash, especially if they are buying on credit.
- Cards can improve your cash flow
Because everything is processed electronically, and the money is typically deposited into your bank account after about two days, you do not have to wait for the checks to clear, and there is less cash to handle. With cards, everything goes in the ledger and you do not have to worry about the extra work that goes into handling and receiving your cash.
- Cards are a requirement for doing business online
Sure, there are cases in which you can run an online business by making transactions in cash. However, it is much easier, and much more preferred if you have a card option. Asking clients to go to the bank in order to transfer money, or to send checks your way, is a surefire way to turn them off purchasing your service or product, especially if the competition offers the option to use a card.
- Accepting cards is relatively inexpensive
Setting up a merchant account is easy, fast and inexpensive. The credit card processing fees themselves are barely noticeable, and there are many merchant packages out there that can fit any budget. It’s also often the case that by accepting credit cards, the increased revenue from the larger customer base is enough to cover the costs.
If these benefits sound like something that would interest you, start now and call Charge.com today on 1-888-924-2743 or visit their website at https://www.charge.com/ for more information.