By now, it should go without saying that accepting credit cards is beneficial for your business. The vast majority of Canadian shoppers prefer to pay for their purchases using plastic. As you know, however, plastic is not limited to the credit card game. In fact, Canadians are widely known as worldwide leaders in debit card usage. Do you accept Interac at your place of business?
There are many reasons to accept Interac cards in addition to credit cards. Believe it or not, not everyone is comfortable putting their purchases on credit. In fact, there are numerous reasons why the ability to pay with Interac may provide your customers with more peace of mind. Any reason to give your customers greater comfort in spending with you is a good one. But, in today’s blog, we’ll list several.
No Credit Checks. When a person applies for an Interac card, all he or she needs is a bank account. Through one’s financial institution, a card can be obtained as it is generally used to allow for cash withdrawals at ATMs. In addition, the card can be used to make purchases that enable the customer to directly debit his or her bank account instead of having the charge put on credit. For this, no credit checks are necessary.
No Sharing Of Financial Information. Many merchants accept credit cards over the phone or via the internet. Of course, this provides customers with very convenient options should they wish to have items mailed to them directly. In cases such as this, however, the credit card information must be passed over the phone or online. Not all customers are comfortable with this. With Interac, no sharing of financial information is necessary.
No Interest Rates. When a charge is placed on a credit card, it is subject to an interest rate. That is, of course, if the customer decides to extend payment on the charge instead of paying for it in full by his or her due date. With Interac cards, there is no extension of payment. As mentioned, each charge is a direct debit. Therefore, there is no fear of accumulating interest over time. With Interac, no interest rates are necessary.
No Long Wait Periods. Who said that the acceptance of debit cards only gave your customers greater comfort? Of course, all of these comforting facts make for great news for your company. But there are some other great benefits to you as a merchant. When a customer pays with Interac, it is a real-time transaction. The money is taken out of the customer’s account and put into yours. No long wait periods are necessary.
Customer Loyalty. As with credit cards, debit cards encourage customers to continue visiting your place of business. When you place that Interac logo at the front of your store, it not only adds a bit of prestige to your brand, it also coaxes customers to walk on in. When people know that their cards are accepted, they become more likely to accept your company.
Canadian POS Corporation offers Canadian merchants the opportunity to accept both credit and debit cards using top-of-the-line POS terminals. We also offer unbeatable customer service and the most affordable rates in our industry. If you’re not yet accepting credit and debit cards, don’t delay in calling us at 1-877-748-2884. We also offer upgrades to the POS terminals you may already be using. Call us today!