In our last blog, we highlighted the fact that your company can enjoy many benefits by accepting credit cards. Among them are the perceived legitimacy of your business as well as its ability to encourage impulse buys and enjoy a boost in cash flow. It’s important to note that, by accepting credit cards in your store, you also significantly boost customer satisfaction.
Let’s take a look at how!
Credit card acceptance helps you to know your customers better.
When you do away with your “cash only” ways, you adopt a system that helps you to analyze customer spending and trends. The impeccable bookkeeping abilities that come with credit card acceptance lets you better understand the spending habits of the shoppers in your store. As a result, you can customize your offerings in an effort to boost your sales.
“The data available from a credit card processor can help businesses identify specific types of spending behaviour by their customers,” reports London & Zurich, “This can lead to the customization of specific accounts and the creation of marketing and promotional campaigns that target particular behaviours. These can also be used in a way and at a time when they are most likely to generate a purchase.”
Credit card acceptance offers customers a huge convenience.
In today’s world, people don’t really like carrying cash around with them. It helps them to feel safe that their money won’t be lost or stolen. A lost or stolen credit card can easily be replaced. When cash goes missing, it usually stays missing. As well, consumers enjoy many benefits of credit card use. Among them are reward points that can be put towards such perks as airline tickets, hotel stays and car rentals.
“Many customers want to use their credit cards to earn rewards associated with them, including airline miles, points towards merchandise and cash back,” says the National Federation of Independent Business (NFIB), “Cardholders are more likely to buy from a business that accepts credit cards than one that’s cash only. Don’t lose a customer to a competitor just because you don’t accept credit cards.”
Credit card acceptance gives your customers more for their money.
As we just noted, many shoppers like credit cards because of the added benefits that come with using them. When a shopper pays with a credit card, he/she often gets more than what he/she bought. On many cards, purchases earn points. As London & Zurich notes, these rewards encourage consumers and businesses to spend on their credit cards. It makes them look at their shopping experiences with your business in a more a positive light.
“Many credit cards give users rewards which can boost customer satisfaction and make them feel better about spending,” reads their website.
Do you accept credit cards in your store?
At Unity Payments, we believe that the easiest and most convenient way for merchants to accept credit and debit cards is with the Poynt Smart Terminal. To learn more, please don’t hesitate to call us at 1-800-661-3761. You may also email us at info@unitypayments.ca.
