Why Will Most Shoppers Use Credit Cards This Holiday Season?

Happy Halloween everyone! Here’s hoping you have a fun and exciting night tonight! Of course, the smartest of business owners will be implementing some kind of Halloween-themed practice into today’s daily activities. It’s only right to get in the spirit of the season when festive days of the year come around. It goes without saying that, tomorrow, the season will be festive in an entirely new way!

For most merchants, tomorrow marks the beginning of the holiday shopping season. It’s that special time of year when people are gearing up for the holidays by spending loads of cash on gifts for loved ones. But that last sentence wasn’t entirely accurate, was it? People don’t spend a lot of cash these days, do they? Instead, most are opting for their credit cards as methods of payment.

This is especially true in Canada as Canadians make up some of the world’s heaviest credit cards users. If you still own and operate a cash-only business, you’re about to embark on a time of year when doing so is the worst possible idea. Naturally, when people spend more money than they’re used to, it becomes difficult for them to afford their purchases. This is where credit cards come in so handy.

They give people the opportunity to extend their payments over time. That way, they don’t have to worry about having exact amounts of cash on them to make their purchases. There are, of course, many more benefits to using credit cards for purchases instead of using cash. And, as a business owner, it’s very important that you know what those benefits are. After all, shoppers are often encouraged to take advantage of those benefits.

What are the major benefits of credit card use? Earning rewards often tops the lists of credit card benefits. “One of the things that you will never get from your debit card or your checkbook are rewards for spending, yet many rewards credit cards offer valuable points, miles or cash back,” points out Jason Steele on Credit.com, “Those who avoid interest by paying their balances in full should always expect some rewards for their spending.”

Getting extended warranties on major purchases is another big benefit to paying for purchases with credit cards. “Consider electronics, which are popular holiday purchases,” Miranda Marquit explains on WiseBread.com, “Many electronics come with a one-year warranty. Many credit cards will provide an extended warranty that covers an additional six months to one year. Instead of paying for the extended warranty at check out, you get the coverage free when you pay with credit card.”

Be sure to check back for our next blog this Wednesday as we continue to list some of the reasons your customers are being encouraged to use credit cards to pay for their holiday purchases. For more information about how to begin accepting credit cards in your store, call Canadian POS Corporation at 1-877-748-2884 or email us at info@localhost. Be sure to ask us about our Countertop and Wireless options!