If you are a business owner, it may be about time for you to incorporate credit card processing in your business. Being able to accept credit card payment from your customers will surely bring many advantages. What are those advantages?
Many consumers today prefer to use their credit cards for shopping because they can pay even without cash.
Enjoy competitive edge over other merchants. Accepting credit card payments will give your business a competitive edge over other merchants who only accept cash or check payments.
Receive customer orders 24/7. If you have a business website, you can receive orders from online shoppers at any time of the day, all days of the week, and all days of the year.
Offer a safe method of payment. Some consumers may still be hesitant to pay online for fear of being a victim of fraud or ID theft. However, the American Bar Association reports that credit card payment is still considered to be the safest method of payment for both online and regular transactions. This is because credit card companies provide their customers with liability protection on unauthorized charges.
Improve your business cash flow. Another great benefit of accepting credit card payments is it helps improve the cash inflow for your business.
Enhance your company’s image and credibility. A business with a merchant account is seen as a reputable and legitimate company. Prospective customers will be more confident to purchase from your shop and choose you over other merchants.
Keep track of transactions more conveniently. Credit card merchant processing is a much quicker way to keep track of your invoices or sales transactions. IT also minimizes the risk of payment default as long as all customer orders are delivered on time and in good condition.
Accounts Receivables Financing. Having a merchant account gives you the opportunity to acquire cash advance from lending companies that offer Accounts Receivables Financing. This is a business financing option where accounts receivables from credit card transactions can be sold to a lender through merchant cash advance.
If this was helpful, please LIKE or Tweet this post, thanks!
Should Small Businesses Use PayPal?
How to Accept Debit Card Payments
The Pros and Cons of Accepting Credit Card Payment
Seller Responsibilities With Credit Card Merchant Processing
The Cost of Credit Card Payment Processing
About the Author:
Melanie James has spent the last 14 years working with businesses to implement quick, effective and inexpensive changes to their businesses to increase productivity and their bottom line.