5 reasons to accept credit cards

Sometimes, I think we've all been there. We've all heard about the billions of dollars stolen from unsuspecting credit card holders, we've seen the movies about Internet fraud, we've read the news circulating the world about fraud, fraud, and more fraud. Despite this, the demand for credit card processing is growing, and everyday there are more and more merchants accepting credit cards as a mode of payment for their online businesses.

Customers + credit cards = happy merchants!

There are numerous reasons as to why merchants prefer to accept credit cards, and customers prefer to pay with a shiny plastic card. Play with these ideas and ponder for yourself if credit card processing is indeed as lucrative as it seems to be.
  • Leverage Impulse buying
Like any normal human being, there are shoppers out there who buy on impulse. They like something, they buy it - without thinking whether what they bought is a need or a want! Take advantage of impulse buying by offering credit card processing. Before they can think of not buying the product, you've already offered credit card processing and made a sale! Remember: No card = Next store please!
  • Faster check out times
Whether you have a physical or online store, offering credit card processing benefits your customers as well as your business because processing payments are made faster - even faster than checks, cash or electronic transfer. Just swipe the credit card or input the information on your virtual terminal and you get approvals/authorizations in seconds! Processing of payments is made in real time so waiting time is cut short. Faster check out times are favored by most shoppers, be it an online store or physical one.
  • International customers = lots of moolah!
The purpose of selling online is not only to corner a small market of locals, but to offer to international customers, and my, are they plenty! The world is your oyster and all you have to do is tap into that international market by offering credit card processing. The international market allows you to reach customers you wouldn't otherwise have with your physical store.
  • Customer convenience enhances customer loyalty
Want a better customer relationship? Then serve at their convenience. If all you can offer is cash or money order payments, then you might see your customers at the other side of the fence, shopping to their hearts' content. Offering credit card processing allows your customer to choose from varying payment options. This can enhance customer loyalty and always bear in mind that happy customers are definitely return customers.
  • Better reputation
Trust is obtained, not given out like free coupons from your local newspapers. You want to be touted as a reputable and trust worthy merchant? Then offering to accept credit card payments is an all-important step. Also, credit card processing providers only put up with businesses that are legal. Hanging up a sign that says "visa" or "mastercard" attracts shoppers like honey to the bee.

In conclusion

Credit card processing can do wonders for your business - your revenue, reputation, and market. The first step towards it would be to inquire for a free merchant account if you're a small business, or your own merchant account if you're capable of acquiring one. Time is gold, so hasten your actions and offer credit card processing - you'll never know how much money you're missing out because you haven't tried accepting credit cards.

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