Why is it simply better for Canadian merchants to accept credit cards and debit cards from their customers? In our last blog, we listed three of the main benefits that credit and debit card acceptance provides you. Not only do these payment options provide your customers with peace of mind, but they also help to increase your sales and improve your cash flow. And that’s certainly not all. There are many more advantages to running plastic-friendly store.
Here are three:
1. It will increase the prestige of your brand. Allow us to simply state this bluntly: not accepting credit cards and debit cards looks bad on your business! It just does. In 2017, “cash only” businesses are widely considered out of touch with the modern world. You’re simply insisting upon turning customers way if you insist on only accepting cash and denying them the ability to use their credit cards and debit cards in your store.
A “cash only” sign is as good as one that reads “shop elsewhere” – because that’s what the vast majority of consumers will do. A sign that displays the logos of Visa, MasterCard, American Express and Interac, however, is, for all intents and purposes, a green light. It’s a literal call for shoppers to go inside your store without the fear of not having their payment options of choice accepted.
2. It will help you to avoid bounced cheques. For those of you who may still be accepting cheques as methods of payment, you can avoid the potential of having them bounce on you. As many merchants know, bounced cheques can be very difficult to recover. Especially if your product has already left the shelf, getting your money from the purchaser, who already has what he/she wants, can be a tough task.
As well, by accepting credit cards and debit cards, you’ll avoid the costs that are associated with bad cheques. Your credit and debit-accepting payment solution enables you to set up recurring payments and automatic billings. That way, you no longer have to request cheques from your customers, but instead can rely on regular automatic timely payments. Neither you nor your customers need to lift fingers in order for those payments to continually be made.
3. It allows you to open your store 24/7. Consumers are big on convenience. And this is why online shopping has skyrocketed in popularity over the last several years. This is especially noticeable during each and every holiday season. When you begin to accept credit cards at your company, you open yourself up to many new possibilities. And they include allowing your customers to make purchases directly from your company website.
By investing in an e-commerce solution, you effectively turn your business into a 24/7 entity. When the doors of your physical store location are closed, online shoppers can still visit your website in order to make purchases. And, of course, they will be able to do so from anywhere in the world. By accepting credit cards online, you not only turn your business into a 24/7 store, but you open it up to customers from across the globe.
For more information on how you can begin accepting credit cards and debit cards using Canadian POS Corporation’s POS terminals, give us a call at 1-877-748-2884 or email us at info@localhost. Be sure to ask us about our e-commerce solution as well!