The forthcoming summer is bound to be an exciting time for all Canadians. As we’ve mentioned in some of our recent blogs, we Canucks spend enough time enduring cool temperatures throughout the year. As a result, the hot and sunny summer days are long pined for by most of us. And when it comes to business owners, the summer never seems to come fast enough!
Naturally, warmer weather encourages more people to leave their homes. So retailers all across Canada benefit from higher temperatures. With that said, it’s important to never assume that good weather will automatically translate into higher sales. Business owners must put efforts into making sure their customers enjoy their experiences. One surefire way to do that is to accept credit cards. Doing so will boost your summer sales.
You’ll enjoy larger transaction sizes by accepting credit.
In case you’re still somehow unaware, most Canadian consumers don’t walk around with cash on them anymore. And those who do don’t carry a lot. If you’re interested in securing sales for your big ticket items this summer, your best bet is to accept credit cards. As EvoB2B.com explains, this is especially important for B2B companies.
“More and more B2B companies are looking to execute large transactions by paying for them with a company credit card,” notes the site, “This is because businesses, just like individuals, tend to spend more money when paying with credit cards. Allowing your clients to pay via credit card in lieu of a check is also less painful, so they tend to spend more.”
Credit card acceptance presents your customers with numerous added benefits.
Remember that when your business becomes plastic-friendly, you give your customers opportunities to get a whole lot more than just the products and/or services you provide them. Credit card use enables cardholders to take advantage of rewards programs that offer everything from airline tickets to hotel stays. Not to mention, credit cards offer added warranties and purchase protection coverage. For higher sales, be sure to let your customers know their cards are welcome in your store.
“One advantage of choosing credit and signing when making debit card purchases is that the card networks may offer you protections, such as zero liability for fraudulent purchases,” notes Louis DeNicola on CreditKarma.com, “If you use your debit card at a restaurant and the waiter adds an extra zero to the tip amount or swipes your card twice, the protection could help you when you are trying to get reimbursed for the unauthorized charge.”
Being plastic-friendly increases your cash flow.
Your business always needs money to run its daily operations. By accepting credit cards, payments for your goods will turn into deposits into your bank account, usually within the day. If you only accept cash, your business account won’t be able to utilize any of the funds until you find the time to visit the bank.
“Instead of waiting for a check to be received and cleared, funds from a credit card transaction can be deposited directly and automatically to your bank, as quickly as 24 hours in some instances,” says EvoB2B.com, “This gives you a much faster payment cycle while improving your cash flow”
At Canadian POS, we proudly offer Canadian business owners the opportunity to accept credit cards with the world’s first smart terminal, the Poynt Smart Terminal. It will revolutionize the way you accept payments! For more information, call us at 1-877-748-2884 or email us at info@localhost.