Nowadays, more and more businesses accept payments by card for selling goods and services which undoubtedly offer numerous distinct advantages and produce positive results. Online shoppers want to pay for their purchases immediately and receive shipments quickly. Though the possibility to accept credit cards can be costly, very often its benefits outweigh all the fees and charges.
So, if your company doesn’t have the possibility to accept credit cards payments yet, maybe the benefits listed below will make you rethink your decision and change your mind.
- Credit card security
- More impulse buyers and higher sales
- Increase of credibility and business image enhancement
Some recent studies have shown that accepting credit can increase your profits from 20% to 70%. Paying by credit card makes buying goods or services very easy. Customers will appreciate being able to complete transactions quickly and without hassles. And the simpler it is for your customer to make a purchase, the more likely he will do so.
Customers appreciate having the option and do not like wasting time while making purchases. Having a possibility to accept credit card will help you achieve this. When your customer pays for goods or services online, the customer’s payment is authorized and the money is placed to your account immediately. This eliminates some financial risk on your part, as you don’t worry about any additional fees associated with checks.
Card payments usually come with some risk of fraud. Providers of payment services use the most sophisticated levels of technology to protect customers privacy and security and prevent any fraudulent transactions. The account is being monitored 24/7 for any suspicious activity. Also, absolute security of payments is confirmed by PCI DSS certificate which is a safety standard developed and approved by the international payment systems.
If you do not accept credit cards, you have the risk of losing hundreds of potential customers who want to pay with their cards. Customers are more likely to make a purchase with their credit card than if they are paying with cash or check. The ease of payments with credit cards can also increase impulse purchases. Recent studies have shown that people tend to make more frequent purchases when they are using cards rather than cash.
If your customers have large choice of payment methods, they will be more pleased and satisfied with your business. This will help your business grow more quickly, gaining a stronger placement in the market. Your customers will trust your company and think that it is reliable if you display credit card logos and accept these cards on your website.
Today, accepting credit cards for every business is a must. With the convenience of paying with cards, the amount of customers will increase greatly. Broadening your payment methods and having the possibility to accept cards make your services or goods more readily available to current and potential customers and can bring your business a lot of benefits!