How Debit Card Acceptance Will Grow Your Sales

It can be argued that there has never been a more important time than now to accept debit cards in your store. With the holiday shopping season about to take off, it’s vital that you give shoppers payment options. Not doing so can lead to a significant loss in possible sales. Accepting debit cards, of course, will do just the opposite. It greatly helps you to grow your sales.

Debit card acceptance gives customers freedom of choice.

When is the last time you went to a restaurant and had a server tell you what to order? We’re guessing it’s never happened. A restaurant menu provides you with options. And while a server will likely offer you some suggestions, the choice about what to eat is always yours. The choice about how to pay should also be yours. By today’s standards, insisting that a customer pay with cash is archaic.

“Visa Debit gives customers more choice in how they want to pay for items,” explains Zachary Nickerson on Helcim.com, “By increasing the likelihood that a customer can pay using their preferred method then you’re ensuring your business is not going to miss out on any potential sales.”

It helps shoppers avoid trips to the ATM.

The ATM is the middle man. And you know what is often said about middle men, right? It’s time to cut them out! While a debit card allows a cardholder to withdraw cash from his/her bank account, why should such an unnecessary step be taken? A debit card allows a consumer to make a direct purchase. By not accepting it, you force your customers to have to go the ATM. How many do you think are willing to do so and come back to your store?

“People want convenience,” SquareUp.com asserts, “And if shopping at your store means a trip to the ATM, they may skip you over and opt for the competition…If you’re a cash-only business, you can see a significant increase in revenue by starting to accept cards. Why? Research shows that 16 percent of consumers do not carry cash, and 85 percent are not likely to withdraw cash to make a purchase.”

Debit card acceptance will attract a younger audience.

As soon as a young person is given access to a bank account, he/she can use a debit card to make purchases. Generally speaking, children, adolescents and even teenagers aren’t credit card users. That means your acceptance of debit cards will allow your business to avoid alienating younger consumers.

“Not everyone has a credit card,” Nickerson reminds us, “Some people may not be eligible for a credit card because they are under 18, they lack the credit needed to get a card, or they are simply more comfortable with other forms of payment. By accepting Visa Debit, you are making it easier for those without credit cards to access the goods and services they are interested in.”

At Canadian POS, we believe there’s no better way to accept debit cards than with the revolutionary Poynt Smart Terminal. Please don’t hesitate to call us at 1-877-748-2884 or email us at info@cdnpos.com to learn more!