Canadian shoppers love using plastic to pay for their purchases. This is a topic that we’ve covered quite extensively on the Canadian POS Corporation Blog. In fact, in our last blog we went over a number of reasons to change to a plastic-friendly business. Accepting credit cards and debit cards is bound to increase your sales, provide greater convenience to your customers and give your brand more prestige.
Those are just a few of the pluses that come with accepting credit and debit cards. You may be wondering, however, if there is a greater benefit to accepting one over the other. In our experience, here at Canadian POS Corporation, giving customers more options is the way to go. Leave it up to them. Generally, people don’t like to be limited. And when it comes to choosing a payment option, this is definitely is the case.
That being said, there has been a lot of debate over which of the two cards are more popular. And there are great arguments for both sides. Many would argue that Canadians prefer debit cards considering how widely popular Interac is. Can you think of a reason not to accept debit cards at your business? In today’s blog, we’ll take a look at five reasons as to why you should embrace debit card acceptance.
1. New customers. If Interac use is so popular – and it is – it’s pretty much a guarantee that you’ll accumulate new customers when you accept debit cards at your business. Debit cards, remember, give people direct access to their bank accounts. Many people enjoy being able to automatically deduct money from their accounts without having to carry cash on them. This also enables them to not carry a balance as they would on their credit cards.
2. Happier customers. As mentioned, people like using their own money. In fact, this was pretty much the marketing pitch used by Interac earlier this year when they launched their “Be In The Black” campaign. To reiterate, customers love having options. Giving them the choice to use their own money instead of credit will make them happy. And what’s better than making your customers happy when it comes to growing your business?
3. Reduced risk. Similar to credit card acceptance, debit card acceptance allows for the implementation of security features. By allowing customers to punch in their PIN codes, you ensure that they are taking measures to protect their identities. Moreover, you are able to secure payment on the spot without having to wait for a cheque to clear or for your cash to pan out as legitimate Canadian Mint-issued bills.
4. Quicker checkouts. This is often heralded as a top benefit to being a plastic-friendly business. Who likes waiting in line for long periods of time? No one, that’s who. By accepting debit cards, you will undoubtedly speed up the process at the cashier. Lines move a lot quicker when nobody is fumbling for change, counting exact dollar amounts or writing cheques. Does anyone even write cheques in stores anymore, anyways?
5. Affordable rates. Some merchants fear that accepting plastic will come with hefty fees. At Canadian POS Corporation, we are happy to offer our clients the most affordable rates in the industry. Accepting plastic has never been so easy – not to mention beneficial. Getting started is as simple as giving us a call. Dial 1-877-748-2884 and let’s get you benefiting from embracing debit card acceptance today!