All too often, small business owners are skeptical of offering customers the opportunity to purchase goods and services with credit and debit cards. This hesitation tends to come from the fact that business owners see it as expensive, potentially unsafe and complicated to offer plastic payment options, but in fact, with a great payment processing system in place, accepting credit and debit cards can be incredibly beneficial for small businesses.
Businesses that accept ranges of credit and debit cards have been show to increase their revenue by as much as 23%. In today’s difficult economic environment, anything that can be done to increase revenue is a benefit for business owners. In fact, it’s because of economic conditions that the use of credit cards has become more common, so businesses that don’t accept credit as a form of payment are closing themselves off to a whole set of customers. Accepting credit and debit cards will also increase customer service and satisfaction. It can be incredibly frustrating for a customer to get to the cash register, only to be turned down because of a certain type of payment. This kind of situation can turn a customer off to a business for the long-term, whereas flexibility in payment options will make a customer feel comfortable and pleased with the ease of the situation.
In addition to providing customers with more options, accepting credit and debit cards also allows business owners to increase their instant cash flow. Unlike the use of checks, which can take days or weeks to clear, the payments from credit and debit cards are instant, and these transactions can be deposited directly into a merchant’s bank account in a period of hours. It’s also a great way to avoid the time-consuming task of trying to collect on bad checks, meaning increased overall productivity for your business.
Digitech Payments has a full range of payment options for the business owner that wants to incorporate the use of credit and debit cards into their payment choices. Contact a customer care agent to discuss the options for expanding your business at 1-800-479-8189.