Business Credit Card Trends Highlight Need To Accept Credit

Do you work in an industry that services business owners? If so, you certainly have something in common with Canadian POS Corporation. We work with business owners all over Canada, providing them with payment solutions to help for their companies to better service their customers. We know how important it is for businesses to offer Canadian consumers payment options and therefore, we provide top-of-the-line POS terminals at the most affordable rates in our industry!

We know that providing great services at great prices helps for Canadian business owners to conduct better business, earn greater profits and satisfy their customers. If you’re a business owner who works with other business owners, you know how important it is for your business to help other entrepreneurs grow their brands. And that’s why it’s so important that you accept credit cards as methods of payment.

On Nav.com, credit card industry expert, Jason Steele writes that the credit card industry is known for being stable and profitable. The market for business credit cards, however, is continuing to grow and evolve. With a new year almost here, it will be incredibly important for you to accept credit cards so that business owners can rely on you to meet their needs when it comes to being able to pay for purchases with their payment option of choice.

Steele writes that business credit cards will continue to grow in popularity in 2017 for a variety of reasons. Listing a number of trends he anticipates for the new year, he urges business owners to take note. “When you have a product that nearly always makes a profit, you want to get it into the hands of as many users as possible,” he reminds entrepreneurs, pointing out that an increase in sign-up bonuses is bound to get business owners to apply for new business credit cards.

Steele also writes that an expected increase in premium reward cards will tempt entrepreneurs to sign up for them. “Compared to consumer card users, business card users have an even greater interest in spending less time waiting in lines at the airport, and more time being productive in a business lounge,” he writes, “In addition, small business owners represent an affluent segment of the market that has not been fully developed by credit card issuers.”

How will mobile payments be received in 2017? Steele believes that the coming year may be a big one for this technological advancement. “2017 could be the year that mobile payments are finally enabled for small business credit cards,” he believes, “This will be a welcome development for small business owners who often carry multiple personal and business credit cards that they would rather leave at home.”

The expansion of flexible rewards programs and the growing popularity of no-fee business cards are other expected trends for 2017, says Steele. “While the market is strong for premium rewards cards, there are still some small business owners that want to earn rewards without paying an annual fee,” he points out, “In 2017, banks could offer more of these cards as a way of increasing their market share, and as a gateway to eventual adoption of their premium products.”

Evidently, the need for Canadian businesses to offer Canadian consumers payment options is only growing in importance. For more information about our Mobile Payments solution as well as the Countertop and Wireless POS terminal options available to you from Canadian POS Corporation, give us a call at 1-877-748-2884 or email us at info@localhost.