Allow us to give you a little reminder about the amazing special occasions that are on the way. This year, Hanukkah gets underway on the evening of Thursday, December 7th and goes until Friday, December 15th. As always, Christmas Day is December 25th and Kwanzaa starts the following day and goes until New Year’s Day.
Needless to say, holiday shopping is currently at a fever pitch! Over the course of this month, stores that accept credit cards will be reaping many benefits. Credit cards make it easy for shoppers to spend more money than they usually would. Not to mention, tap payments make the checkout process quick and simple. Let’s take a look at the impact of credit card acceptance on holiday sales numbers.
It legitimizes your business.
Let’s be honest. These days, a store that doesn’t accept credit cards comes off as “small time”. To legitimize your business as a reputable entity, it’s important to display the logos of Visa and Mastercard all over the place. They should definitely be placed at both your store’s entrance and at the checkout. That way, customers will know that their cards are accepted and that your brand is a major player.
“Taking credit card payments will establish your business in the industry as legitimate,” writes Marco Carbajo on TheBalanceMoney.com, “Displaying the logos of the credit cards you accept on your website or cash register will grab the cardholder's attention and make them more likely to trust your business.”
It draws the attention of shoppers.
As mentioned, credit cards enable consumers to spend more than they normally would. During the holiday season, there is more shopping being done than at any other time of the year. With credit cards, people can spend up to their credit card limits. They can also pay off their balances over time, if they choose. When your store showcases that it is plastic-friendly, it lets shoppers know that they can get their holiday shopping done with the help of your business.
“Cash-only operations will hinder business sales and potentially make the business lose hundreds of prospective customers,” says Carbajo, “However, when a business accepts credit card payments, its potential customer base expands massively as more customers are attracted, thereby likely boosting sales.”
It improves your store’s cash flow.
When you receive cash payments, you have to find time to go to the bank to deposit the money in your business account. With credit card payments, the money is automatically deposited in your account. This enables your store to use its earnings a lot quicker. You have payroll, inventory, maintenance and so many other expenses to consider. The faster you get your money, the better, right?
“In most cases, credit card transactions are electronically processed and can be settled quickly,” Carbajo explains, “The proceeds are deposited in your business bank account by the processor within a matter of days. This will not only increase and improve your cash flow but will eliminate issues with checks, billing, and invoice collection from your customers.”
Do you accept credit cards at your business?
At Unity Payments, we proudly offer Canadian merchants a variety of high-quality payment terminals to choose from. Easily accept credit and debit payments with the Poynt C Smart Terminal, the Poynt Newland 910, the Ingenico Desk/5000 or the Ingenico Move/5000. 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.
