In case we haven’t already made this clear, Canadian shoppers prefer to pay with their credit and debit cards. Having a “cash only” sign in your storefront window is as good as having one that says “Go Away!” A sign that reflects the logos of Visa, MasterCard and Interac, however, indicates that your place of business is plastic-friendly. This will encourage more customers to walk through the doors.
In our last blog, we highlighted some of the main benefits of accepting credit cards and debit cards in your store. They included increased spending per purchase, greatly reduced chances of experiencing loss or theft and an enhanced company image. Make no mistake about it, not accepting credit and debit looks bad. Remember, it’s 2018. The days of the “cash only” business are practically gone!
Canadian consumers view credit and debit acceptance as the norm, not the exception. When you insist on accepting cash only, you’re making things inconvenient for the average shopper. Most people don’t even walk around with cash on them anymore. So, what good does it serve your business to tell people that their cards aren’t welcome in your store? Simple and plain, it’s best to have options.
“Your customers all have their preferred method of payment,” says the U.K.-based Business Matters magazine, “It is in the best interest of your business to avail these options to them. Many customers prefer to use credit cards because of the rewards that they get from their banks for using them, and such customers consider buying things from stores that don’t accept credit card purchases a waste of potential points. If your business isn’t accepting credit card payments, you are losing such customers to your competition every single day.”
Do we need to remind you about the popularity of online shopping? With each passing year, the internet becomes more and more popular as a “shopping mall”. That is to say that online shopping is an increasingly viable way for people to get their hands on what they want. This past holiday shopping season proved that once again. If you’re interested in opening up your business to a worldwide audience, you’d be smart to accept credit cards.
It’s no secret that credit cards are the preferred method of payment for online shoppers. Consider the fact then when you become plastic-friendly, you enable your brand to be one that can open up an online shop. Enabling worldwide consumers to order your items directly from your website is an excellent way to significantly boost overall sales.
“Credit cards are like a global currency,” writes Anita Campbell on SmallBizTrends.com, “Because purchases are automatically converted to the appropriate currency, selling internationally with credit cards is easy for both the buyer and you, the seller. If your business has an online presence, the world is your market, not just your city or town.”
For information about how you can begin accepting credit cards and debit cards, call Canadian POS Corporation at 1-877-748-2884 or email us at firstname.lastname@example.org. Be sure to ask us about our Countertop and Wireless POS terminals!