4 Big Differences That Credit Card Acceptance Can Make

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Will accepting credit cards really make a big difference? Allow us to answer the question as simply as possible: Absolutely! As retailers from all over Canada have discovered, credit card acceptance makes all the difference in the world. A business can significantly increase sales and grow its customer base simply by clearly displaying the Visa and MasterCard logos. The declaration that credit cards are accepted, in today’s business world, is practically a must.

What are the big differences that credit card acceptance can make? Here are four:

Difference #1: Increased average transaction.

We’ve already pointed out that sales will increase. That should be an obvious difference. But statistically, it has been proven that stores that accept credit cards also increase their average ticket sizes. Giving customers the ability to spend without worrying about having exact change or enough cash on hand is a big deal. Simply put, people spend more money when they don’t have to spend cash. Credit cards, as we all know, offers much more flexible paying options.

Difference #2: Improved cash flow.

When you accept cash, you are forced to go to the bank in order to deposit it. When you accept credit cards, no such bank trip is necessary. Payments are processed automatically and directly into your business account. This saves you a lot of time and hassle, not to mention it enables you to much more easily afford business necessities. Having quicker access to your cash can significantly improve your day-to-day business operations.

Difference #3: Higher customer satisfaction.

Let’s go back to the practice of putting it plainly: your customers want to use their credit cards! It’s just that simple. Insisting upon cash-only transactions is a turn off. Credit card acceptance makes things very convenient for customers. And, as explained in our last blog, paying with plastic is simply the way of the world today. Canada’s younger generation is one that is being brought up with little to no experience using cash.

Difference #4: Lower security risks.

The less cash you have on hand in your store, the less likely you will be to either lose it or have it stolen. In the past, numerous retailers suffered loss at the hands of unscrupulous employees (and burglars, for that matter) who knew that cash registers were filled with valuable dollar bills. Such is not the case in 2017. Credit card acceptance has vastly lowered occurrences of loss and theft.

At Canadian POS Corporation, we offer Canadian retailers a number of credit card-acceptance options. We offer both Countertop and Wireless POS terminals. The Verifone VX 820 is a great countertop terminal for merchants who are interested in affordable and easy-to-use next-generation solutions that accept all contactless, chip and magnetic stripe payments.

The Verifone VX 680 is an all-in-one wireless solution that efficiently and securely processes transactions anywhere. The compact ergonomic design provides easy transport and a long-life battery ensures that you have enough power to get through any busy day.

For more information about how you can begin accepting credit cards today, please don’t hesitate to call Canadian POS Corporation at 1-877-748-2884 or email us at info@localhost.

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