As more customers rely on paying with credit cards, small businesses that previously accepted only cash and checks face a dilemma. Should they start accepting credit, debit and prepaid cards, or should they avoid the processing fees and risk of security breaches? According to the U.S. Small Business Administration, "customers will likely begin to expect a plastic option as a rule, rather than a courtesy." While the process of beginning to accept cards may seem daunting, your business will ultimately lose customers without this "necessary operating expense." Here are a few ways that credit card payments can improve your business:
- Customers will choose your business over competitors. The convenience of paying with a card could influence a customer's decision. Why would they choose a mandatory trip to the ATM when their card provides direct access to their bank account? And if you want to conduct business online, the ability to process cards is mandatory.
- Customers will spend more money. Not only will your business see more transactions, but the amount of money you receive in an average sale will also increase. When they don't have to count cash, customers will be more inclined to make impulse purchases that will further augment your revenue.
- Banking will be easier. With card payments automatically transferring into your business's bank account, you won't have to spend so much time adding up and organizing cash and checks and bringing them to the bank.
Choosing the right payment processing software will streamline your transition into accepting credit card payments. To learn more about this process and discover your options with CreditLine Payment Processing Software, contact 911 Software today!