4 Reasons To Accept Credit Over Cheques

Over the years, we have learned that some business owners are under the assumption that “money is money”. In other words, if the value of a sale remains the same no matter the method of payment, then what difference does it make how the customer pays? Well, at Canadian POS Corporation, we know that there is a HUGE difference. And offering your customers payment options will make a world of difference for you.

Among the many reasons to accept credit and debit cards is the fact that you will be paid a whole lot quicker. Says the Visual.ly website, \”accepting payments by credit card can reduce your accounts receivable payment waiting time dramatically. It also gives your customers another payment option. You’re not just helping to build your business, you’re helping to strengthen existing relationships and attract new ones.”

Quicker Payments. The site tales a look at the differences between accepting cheques and credit cards. Let’s suppose you accept a payment of $100.00 for your products or services. If you were to accept that payment via cheque, it generally means you would have to invoice that client. Once the client receives the invoice, he or she would have to mail you a cheque. Once you deposit the cheque, you need to allow time for it to clear.

According to Visual.ly, the entire process can take over a month to complete. Accepting credit cards, on the other hand, allows you to charge an account number the same day that the sale of your product or service is made. Within two days, the funds are deposited into your account by your payment provider. At Canadian POS Corporation, we’re known for our expeditious service.

Improved Cash Flow. “73 per cent of businesses say that taking credit cards has improved their cash flow because payments are made immediately,” says the site, based on the findings of a Visa Canada study. Money isn’t exactly money if it takes forever for you to receive it. Accepting credit improves your bottom line as you’re guaranteed to never be low on funds following the making of your sales.

Customer Satisfaction. Your customers want to use their credit cards to make their payments, Visual.ly insists. It makes life easier for customers to simply pull out their credit cards instead of having to ensure that they have the right amount of cash on them to pay for their purchases. Businesses that accept credit and debit cards find that they begin to sell more as a result of offering this option to their customers.

Increased Sales. “32 per cent of small business owners saw an increase in their overall sales once they started accepting credit cards,” found the study. “It definitely helped me,” confirmed one of our latest clients last week, “When I began to accept credit cards, I found more people came into my store. It really helps to have to those Visa and MasterCard stickers at the front of the store.”

Accept credit and debit cards today by contacting Canadian POS Corporation at 1-877-748-2884. You will soon find that your cash flow situation is greatly improved. You’ll notice more customers coming into your stores. You’ll notice that your sales numbers are growing. And you’ll definitely find that Canandian POS Corporation provides the best POS terminals at the most affordable rates!