Why EVERY Business Needs to Accept Credit Cards
Last week we had a friend that went out to a little dive burger place for lunch, the kind that you risk food poisoning for the off chance that it is the greatest food you’ve ever had. When the check came, they put down their credit card. That’s when they heard the infernal words, “Sorry, we don’t accept credit cards.” It had been so long since they heard that phrase that they were caught off guard. Luckily, there was an ATM nearby so their bill was paid in full, but we couldn’t stop thinking about how paying with a card has become so commonplace that when a business doesn’t accept them, we are taken aback.
For a small, skeevy burger restaurant, cash only might be part of the charm. But for a business conveying an image of professionalism, reliability, or at least a C health code score, accepting credit cards does add to the legitimacy of the business. Small businesses used to be reluctant to accept credit cards, citing high startup costs, interchange fees, and a high monthly minimum cost. While being a concern for the early adopters of credit card processing, technological advancement and lower costs have made accepting credit cards easier than ever.
Secure, reliable payment processing is an expectation among consumers and business that accept credit cards and now that expectation can be met. There is a perception with companies who accept credit cards. They are safer and more reliable. A business that accepts credit cards has a relationship with a credit card processor, other businesses, and a large number of clients. There is a level of legitimacy associated with card processing that will add validity to your brand image.
Credit cards also increase revenue for businesses. The average credit card user spends more per visit than a cash spender, increasing profits per shopper. Credit cards are also the default form of payment for the majority of consumers and a cash only business has the potential to turn away those who don’t carry large amounts of cash on their person. Instead of turning away ready to buy customers, a simple merchant payment account will ensure every customer can purchase the product or service.
Many companies are reluctant to start credit and debit card processing due to the hardwired card readers that were standard for many years. However, new technology allows for wireless readers and now mobile card readers used in conjunction with iPhone and iPad card reader applications. Now any out of office, mobile, or brick and mortar business can process credit and debit transactions with the ease and security of traditional card terminals. The point of sale is now in your pocket wherever your business takes you.
Whatever the business, VPS has a payment solution for you. Apply for a merchant account now at www.visionpayments.com or over the phone at (877) 674-2286.