You don’t still operate a cash-only business, do you? If so, there’s no simpler way to put this. Your decision is bad for business! In today’s world, people are prone to utilize wireless devices on a regular basis. No longer do we have to sit in front of our television sets to catch our favourite shows. They can be streamed on our smartphones! With technology like that, why wouldn’t you take advantage of today’s top way to accept payments?
Accepting credit and debit cards is vital to the success of your business. The vast majority of Canadian consumers prefer paying with cards over cash. The bottom line is that it pays to get rid of your cash-only ways.
Credit card acceptance offers shoppers greater value for their purchases.
When shoppers pay with their credit cards, they often get a lot more than paid-for products or services. With reward cards, consumers earn points toward freebies. Between travel rewards and cash-back cards, there are many types of additional perks that cardholders can receive when they make purchases.
“Many credit cards provide rewards in the form of cash back, airline miles, hotel points or gas rebates,” reports John S Kiernan on WalletHub.com, “These rewards subsidize the cost of purchases and can be traded for unique amenities. Some rewards cards also offer discounts and exclusive access to shows, ball games and concerts; VIP treatment in airports and hotels; concierge services; special gifts; and much more.”
Credit card acceptance provides protection for purchases.
Many consumers enjoy taking advantage of the purchase protection features of their credit cards. By paying with credit, shoppers are assured that their purchases will be covered in the event of loss, theft or damage. This is a huge plus over paying with cash. Of course, a cash payment offers no protection for the purchase at all. That is, of course, unless the customer pays extra for insurance coverage.
“Credit card purchase insurance can save you in a pinch,” contends Brett Surbey of Forbes, “If an item purchased with your card is damaged or stolen, purchase insurance allows you to receive a refund, within 90 or sometimes 180 days of the purchase date. A credit card purchase protection program can give you peace of mind for whatever you’re buying with a credit card that includes it.”
Credit card acceptance helps consumers track their spending.
Not every shopper is a good bookkeeper. In fact, we’d be willing to bet that most are not. When you purchase something with cash, you can receive a receipt. However, there is no official tracking system for the spending. With a credit card, you get a monthly bill which is an itemized list of purchases. It updates in real time online. Because of this, shoppers can very easily assess just how much they’re spending each month. This helps them to stay within their budgets.
“Credit cards make it easier for anyone to track their spending over time,” writes Kiernan, “This pays off when it comes to household budgeting, cash flow management and more.”
Are you ready to accept 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.
