Canadian consumers are quite used to the practice of pulling out their credit cards and debit cards to process payments for purchases. The acts of inserting cards of choice and punching in PIN codes are commonplace for shoppers all throughout Canada. As a result, cash-only businesses are becoming things of the past. And for those business owners who are steadfastly holding on to the old way of operating their companies, harsh realities are abound.
What harsh realities await them? Well, if it’s not already apparent, even the most loyal of customers will tire of having to ensure that they have enough cash on them when making purchases from cash-only establishments. Giving customers payment options is practically a must in today’s world. The ability to use plastic provides consumers with so many benefits, it’s hard to deny that plastic acceptance is the way to go.
Here are five benefits given to your customers when you accept plastic:
1. Being able to keep track of purchases. Many consumers enjoy the fact that online banking provides them with quick and easy access to information about their spending habits. Most people simply log on to their smartphone apps or enter into their online accounts to keep up with the transactions on their credit cards and debit cards. For people spending on a budget – and that’s most of us – keeping track of purchases is a big benefit to paying with plastic.
2. Avoiding the inconvenience of needing exact cash. Quite often, people underestimate the amount of cash they will need on their persons. This is because it is commonplace for shoppers to enter stores and end up wanting to buy items other than what they originally intended to pick up. If they’re forced to pay for their purchases with cash, however, it prevents them from spending the money they would have spent if there were other payment options allowed.
3. Getting rewards and other perks. When people pay for their purchases with cash, they simply receive their items of choice and nothing more. Numerous types of credit cards, on the other hand, provide added perks to using them as payment methods. Among the most popular are reward points that are used for travel. Many Canadians have been able to enjoy free airline tickets, hotel stays and car rentals simply for being particular credit cardholders.
4. Having important big ticket purchases made possible. There will be times when people need to make purchases that they can’t necessarily afford. As well, when emergency situations arise that require large sums of money to remedy, cash isn’t always readily available. Depending on their credit limits, credit cards allow for people to afford what is needed in timely manners. Without them, many people would find themselves in dire situations.
5. Flexibility with payments. To further highlight the last benefit, a credit card gives a cardholder the opportunity to make payments over time. While interest rates will certainly apply, the flexibility a credit card gives its holder allows him/her the ability to afford particular products and services that they otherwise wouldn’t be able to get. Major car repairs, legal fees and emergency flights are a few examples that credit cards help out with in big ways.
At Canadian POS Corporation, we proudly offer the Verifone VX 820 as our countertop terminal of choice. It’s ideal for business owners looking for affordable and easy-to-use next-generation terminals that accept all credit cards and debit cards and suppor contactless, chip and magnetic stripe payments. For more information, call Canadian POS Corporation at 1-877-748-2884 or email us at info@localhost.