Years ago when I first started in the industry, the ability for retailers to choose weather or not they wanted to accept credit cards or not was actually possible. Not to date myself, but that was also a time when manual imprinters (knuckle busters) were also used with manual imprint slips for receipts and were carried to the bank with the cash and checks! Times have changed and today`s businesses cannot function without accepting some type of credit card. Those businesses that cling to only accepting cash, especially the online ones, will find themselves left out and losing potential sales against their competition that offer credit card payments online.
The Ultimate In Customer Payment Convenience
Credit cards are very popular and convenient to use and although there was big concern over online security, much of that has been addressed by the industry and can be prevented upfront by smart business practices. As the most common method of payment, they are easy to use and the money stored and transacted with them is for the most part, always safe. If you have a storefront business or are thinking of starting up a new business selling goods or services, there are many advantages to having a virtual storefront. Let’s take a look at some of the advantages and benefits of accepting credit card payments online:
- Customers love to pay online. I don’t know about you, but shopping online is s much easier than having to go shop for something in a store. With so many people having credit cards and on the internet every day, it seems silly to lose the opportunity to cash on those sales by offering them an easy way to get what they are looking for.
- Accepting credit card payments online saves you time. Online payments are much faster and more efficient than other traditional methods. You do not have to lose time to chase your payments and wait for it, as they are credited to your account immediately. Automatic billing greatly reduces your time and customers like to purchase quickly instead of waiting for their order.
- Accepting credit card payments online saves you money. If you accept online credit card payments you will no longer have to worry about the costs of the traditional billing, such as paper used, printing, postage fees, administrative fees, etc.
- Higher Sales. Customers do not like to waste any time when they want a certain product or a service. When they buy something, they want that product immediately (ever heard of impulsive buying!). If you allow your customers to use credit cards for purchases, they will tend to look more positively at you and are more likely to return back to buy another product. If you do not accept credit card payments online, then you risk losing thousands of potential customers and may not be able to get the traction or reputation you need to really build your brand.
- Business Legitimacy. By accepting credit card payments online you create a sense of trust in your customers. There is a sense of trust that is created when you have a real merchant account. Then they will become more satisfied with you, which will also make you satisfied as well. That will help your business to grow and expand, and that will bring a better image of your company at the market.
There are lots of other positive benefits for the companies that allow credit card payments online, but the bottom line is that your company cannot work and exist on the virtual market if it does not accept online credit card payments. Keeping the customer happy and increase in profits is every businesses` goal, so why not use that in your company`s benefit as well. Nowadays online credit card payments are becoming a general rule rather than exception, so every serious business should follow that positive trend and accept credit card payments online in order to be successful.
Need help? Have questions?
Accepting credit card payments online can be a huge boost to your business but there are so “do’s and dont’s” that can make a big difference in your results. If you need help – either with understanding how to set things up or actually doing it – give us a call at 866-949-7267 or click here to send us a message, and we can walk yo through the details.