Merchants all across Canada who accept credit cards and debit cards reap many benefits on a regular basis. Merchants who have chosen to remain “cash only”, on the other hand, are simply missing out. Those who have decided that “it’s not worth it” to accept plastic often report high fees associated with credit card and debit card acceptance as the reason they choose not to process such transactions.
At Canadian POS Corporation, we’re happy to report that we offer the most affordable rates in our industry! But even more importantly for Canadian business owners, the POS terminals that we provide have regularly helped to generate more sales and garner larger customer bases for our customers. What that means is that if you’re still of the mind that being plastic-friendly isn’t for you, you’re simply hurting your business.
Here are five reminders about why you should be accepting plastic:
1. It helps to legitimize your business. Think about it. All of the big-named brands accept credit and debit. In today’s world, when a company allows for its customers to pay for their purchases using plastic, it signifies that it is up with the times and is a legitimate organization. Cash-only businesses come off as “small time” and out of touch with the modern world. If you want to secure a stronger reputation for your brand, accepting plastic will definitely help you with that.
2. It enables you to boost sales. Allow us to reiterate an earlier-made point. Canadians prefer paying with plastic. If you offer them the option of paying with plastic, more of them are going to come into your store. It’s just that simple. It’s what your customers want. Denying them what they want results in having less customers. Giving them what they want will encourage more of them to support your brand. We can’t state it any simpler.
3. It keeps you competitive. In case you haven’t yet noticed, your competitors are accepting credit cards and debit cards. If you wish to level the playing field within your industry, it’s wise to ensure that you’re offering the payment options that your competition is offering its customers. That way, you give your target audience fewer reasons to select other companies over yours when making their buying decisions.
4. It encourages impulse buys. When customers are forced to use cash to pay for their purchases, they are given no freedom to spend more than the amount of cash they have on them. With credit card acceptance, a company enjoys impulse buys – those that are not intended by the customer when he/she first visits the store. Credit cards, of course, allow shoppers to spend up to their credit limits and offer additional time to make payments towards their purchases.
5. It provides convenience. When a customer is granted the ability to pull out a credit card or debit card, he/she is able to complete a transaction within seconds. The alternative is often having to run to an ATM in order to withdraw cash to pay for a purchase. Needless to say, that’s an inconvenience no shopper should have to endure. And when customers are inconvenienced by a business, they aren’t likely to return to it.
Let’s get you to begin reaping the benefits of being plastic-friendly, shall we? For more information about the Countertop and Wireless POS terminals offered by Canadian POS Corporation, give us a call at 1-877-748-2884 or email us at info@localhost.