Last week, we posted a blog that listed three huge advantages of accepting credit cards in your store. We went into detail about how it encourages impulse buys, helps to reduce fraud and theft and boosts your brand’s legitimacy. Of course, credit card acceptance benefits not just your business, but your customers as well.
Here are three ways your acceptance of credit cards makes everybody happy:
1. Credit cards give consumers control.
Today’s credit card users can easily manage their accounts online. It’s easy to pull out your mobile device, log in to your banking app and peruse through the charges you’ve placed on your credit card. Online banking also enables you to easily make payments to your credit card company and perform balance transfers, if necessary. As Business Wire highlights, credit cards give consumers control.
“When it comes to managing cards, self-service is important,” notes the website, “For example, 82% of consumers manage their credit cards online and 69% manage their cards via mobile devices, a figure that reaches 90% for Gen Z, millennials and Gen X consumers. Alerts are essential for many people, with 61% receiving debit card alerts, 70% getting credit card alerts and 63% of those receiving alerts say an alert has stopped fraud.”
2. Credit card payments are super easy to process.
Today’s consumers only need to tap their cards on payment terminals in order to complete their purchases. It makes paying for something super quick and easy. Gone are the days when people had to sift through their wallets for cash or fiddle around to locate the correct change. Credit card payments also eliminate payment errors. No longer do shoppers have to worry about receiving an incorrect amount of change.
“One of the main reasons your clients may want to pay with credit cards is because of how easy it is,” points out Amanda Abella of Due, “There’s no need to fumble around with cash and they don’t need to go through the trouble of writing and mailing a check. While cash and checks aren’t that hard, the reality is people prefer convenience. The easier you make it for them to pay you, the more likely they will do it.”
3. Credit cards give consumers various perks.
When you accept credit cards in your store, you don’t limit consumers to using just one card. Of course, there are numerous credit cards on the market. Depending on a person’s spending habits, he or she will choose the card that offers the most benefits. Therefore, when you accept credit cards in your store, you enable your shoppers to enjoy greater value with their purchases. Many cards offer rewards points for spending. This gives their users access to free perks.
“Nearly 7 in 10 (68%) people who have a credit card have more than one, with 90% of those stating they have a go-to’ credit card they use most often,” reveals Business Wire, “A significant majority (71%) of multiple card users choose their card based on the opportunity to accumulate rewards. This increases to 80 percent of those making more than $150,000 per year.”
Do you make everybody happy by accepting credit cards in your store?
At Unity Payments, we proudly offer Canadian merchants a variety of high-quality payment terminals to enable them to accept credit cards and debit cards. They include the Poynt Newland 910, the Ingenico Desk/5000, the Ingenico Move/5000 and the Poynt C Smart Terminal. To learn all about your options, please don’t hesitate to call us at 1-800-661-3761. You may also email us at info@unitypayments.ca.
