Do you own and operate a cash-only company? 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 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 protection for purchases.
Many consumers enjoy taking advantage of the purchase protection features of their credit cards. By paying with credit, a person is often assured that his/her purchase 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.
“Sometimes there could be a problem with your purchase – it might get lost or damaged, for example, or the company could even go bust,” points out Ella Jukwey on MoneySuperMarket.com, “With credit cards, you have buyer protection…It means you can claim your money back from the card provider if there’s an issue with your goods or services.”
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 an itemized list of purchases that updates in real time. 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 John S Kiernan on WalletHub.com, “This pays off when it comes to household budgeting, cash flow management and more.”
Credit card acceptance offers shoppers greater value for their purchases.
When a customer uses a credit card to make a purchase, he/she often gets a lot more than the paid-for product or service. With a reward card, a shopper earns 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 Kiernan, “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.”
Do you accept credit cards in your store?
At Unity Payments, we proudly offer Canadian merchants a variety of high-quality POS terminals to choose from. You can easily and securely accept credit card and debit card payments with the 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.
