As a business owner, there are a ton of reasons to love accepting credit cards. And if you’ve been paying attention to the Canadian POS Corporation Blog over the past several months, you know all about them! It’s important, however, to keep in mind what your customers are thinking. After all, that’s one of your biggest jobs as an entrepreneur, right? You’ve always got to be thinking about your customers’ benefits.
What’s in it for them to use their credit cards? Just how much extra value are you providing your customers by giving them the option to use either their credit cards or debit cards to pay for their purchases? The answer is…quite a lot! As RBC points on their website, “most Canadians have at least one credit card in their wallets, and generally recognize the benefits they have to offer.” The site goes on to list several reasons by people love their credit cards. In today’s blog, we’ll discuss the first five.
1. Budgeting and expense tracking. People enjoy being able to keep track of all of their expenses. Unlike when you pay with cash, there is an actual written record of each and every purchase you make when you pay with your credit card. Therefore, when customers receive their statements each month, it makes it so easy for them to review their expenses. This allows people to better stay on top of their budgets and manage their spending.
2. Protecting yourself and your purchases. RBC notes that when purchases are made on a Visa or MasterCard, protection is offered to customers that they wouldn’t be receiving if they had paid with cash. “Personal property and gifts purchased using your card are protected from loss or damage for 90 days from the day you made the purchase,” explains the site, “Your purchases are also protected by Extended Warranty Insurance.”
3. Building a credit history. This is something that we’ve often said should be thoroughly taught in school. Our most important purchases – such as homes and cars – require us all to have good credit. And as RBC points out, “a credit card is the most efficient credit building tool around.” When customers use the credit cards and pay their bills on time, they are ensuring financial success for the future.
4. Speeding through the checkout. The website also points out that credit cards alleviate the frustration that comes with fumbling for change, or having exact cash on you. Visa and MasterCard have made it so that going through the checkout is an even quicker process than ever with new cards that you can simply tap or wave in front of a terminal. The contactless cards are known as Visa payWave and MasterCard PayPass respectively.
5. Booking travel. It’s practically impossible to pay for a flight without a credit card. Credit cards allow customers to easily book travel online or over the phone. As well, doing so provides built-in insurance plans that can cover expenses associated with delayed or cancelled flights as well as lost baggage. Hotels also generally require credit card numbers to book reservations, RBC reminds us.
Call Canadian POS Corporation at 1-877-748-2884 to begin accepting credit cards and debit cards within the next three days. That’s how quickly we can have you set up! With a new POS terminal, you will be providing your customers with more benefits than you may be aware. And, as history has shown, this will end up benefiting your company with many new customers. Give us a call today!