Earlier this week, we blogged about some statistics that prove that Canadian consumers are continually choosing to use their credit cards and debit cards as their preferred methods of payment. As a result, we reiterated the importance of accepting plastic and doing away with the “cash only” titles that many veteran business owners hold on to. All business owners invest in their companies to help grow its success. And becoming plastic-friendly is definitely worth the investment.
Here are three reasons plastic acceptance is a smart business choice:
1. It will increase the size of your customer base. What business owner isn’t interested in having more customers? When shoppers see the Visa, MasterCard and Interac symbols at the front of your store and/or by the cash registers (excellent ideas, by the way), they see your company in a more favourable light. Not only does plastic acceptance reveal that you’re keeping up with the times, but it makes life more convenient for shoppers.
With so many Canadians not even bothering to keep cash on their persons these days, your acceptance of credit cards and debit cards makes it a lot easier for them to choose your place of business over others that are still cash only. By not offering these payment options, you alienate those who don’t carry cash. Turning away customers is bad for business, no matter what industry you are in.
2. It elevates a positive brand image. Touching again on the concept of “keeping up with the times”, it should not be understated that the impressions of your business in the public eye count for a lot these days. Consider the fact that word spreads faster than ever through social media. If people enjoy working with your company, they will be quick to tell others about it on Facebook, Twitter and the like.
The same goes for if they don’t enjoy working with your company. A brand that accepts credit cards and debit cards is one that understands the needs of the modern day customer. It shows that you’re not “stuck in the stone ages”. Having such a reputation can be very damaging. You don’t want your business to be regarded as one that is no longer relevant in today’s marketplace. An avoidance of accepting credit cards and debit cards can have that effect.
3. It provides a great return on investment. As mentioned earlier, becoming plastic-friendly is a worthwhile investment. Consider the fact that you’ve clearly spent money in other areas of your business in an effort to further its success. When business owners worry about the fees associated with accepting credit cards and debit cards, they forget how much more money they stand to make in the long run.
As Canadian POS Corporation’s clients have found out, the benefits far outweigh the fees. Especially considering that we offer the most affordable rates in the industry, Canadian POS Corporation is proud to help Canadian merchants make one of the best investments in their businesses that they can make! For more information about our Countertop and Wireless terminals, give us a call at 1-877-748-2884 or email us at info@localhost.