Credit card usage can be very beneficial for shoppers. And, as a business owner, that’s a great thing for you! It’s important to be up on the many benefits that credit card use provides for customers so you can take advantage of them at your place of business. After all, you’re a customer as well. You know how to think like your customers, right? So why wouldn’t you give them the convenient option of paying with plastic?
Convenience. Naturally, this is benefit #1. It saves your customers a lot of time and energy when they use their credit cards to pay for their purchases. It’s never necessary to search for an ATM or worry about how much cash you have on hand when they walk around with their credit cards handy. When your store allows for credit cards to be used as payment options, it provides quite the convenience.
Rewards. It should not be overlooked that credit cards give shoppers more for their money. Instead of simply paying for an item – as they would with cash – a credit card transaction often leads to the accumulation of points. Many times, these points are used for travel benefits such as airline tickets, car rentals or hotel stays. Who wouldn’t want to get more for their money?
Record keeping. When customers receive their credit card bills, they are not just reminders that they have balances to pay. Credit card statements help people to track their expenses. There are cards out there, as well, that provide end-of-year summaries to help with their taxes. Keeping a record of spending is a good way to manage it. This can be very helpful.
Building credit. One’s credit history helps to attain big expenditures such as a house, car or bank loan. Without good credit, such things are nearly impossible to secure. How does one get a good credit rating? By using a credit card and paying for the balance by each due date. Naturally, the better you are with making timely payments, the better your credit score will be.
Purchase protection. More often than not, if a customer has a dispute with a particular charge, a credit card company will investigate it. This also helps you as a business owner. Surely, you want to ensure that there are no fraudulent charges placed on the credit card accounts of your customers. However, the added protection gives customers more incentive to use their credit cards.
Balance transfers. Credit card companies also generally allow their customers the option of transferring balances from one interest rate to another. This helps for the customer to save, if possible, on additional interest charges. Of course, the best way to pay a credit card off is to pay each monthly balance in full. That way, no interest charges accrue. Nevertheless, balance transfers make another great reason to use credit cards.
As a business owner, it only makes sense to allow your customers the convenience of using their credit cards to pay for purchases in your store. Whether you already accept plastic and would like to upgrade or you would like to get your first POS terminal, call Canadian POS Corporation at 1-877-748-2884. We offer top-notch equipment at the most affordable rates in the business!