Credit and debit cards are part of the entrenched lifestyle of the American economy. They are convenient, flexible, and virtually accepted across the United States. As a merchant or a service provider, how often does a business use a credit card to make purchases for it? Credit cards are here to stay.
There are several pros of accepting credit cards for a business.
- Plastic is a way of life for the American household. According to U.S. consumer studies, 35% of consumers surveyed say they prefer credit cards, while 41% say they prefer debit cards. This survey also found another interesting fact. Consumers prefer to use debit cards for their everyday discretionary purchases, credit cards were preferred for online shopping and larger purchases, and cash was preferred for everyday small dollar purchases.
- Revenue will increase simply because credit card holders will spend more than the cash customer. Credit lines for card holders actually help them to spend more money on impulse purchases and they will make larger purchases than cash buyers. Average sales dollar will definitely be higher with credit cards than with cash.
- The average consumer will feels a business is more legitimate and trustworthy if it accepts credit cards. Displaying those credit card logos in the window and website indicates to customers that business will cater to their payment preferences.
- Writing out a check and verifying the information takes time and resources. Swiping or dipping a credit card and receiving authorization takes seconds. Credit card transactions wrap up neatly and quickly, sending a happy customer home. This also allows merchants to deal with more customers faster and more efficiently.
- Because a business takes credit cards, it can make money anywhere. High tech solutions like mobile credit card processing, wireless credit card processing, and online processing will expand merchant’s options for where and how it will do business. A business can expand by breaking the traditional walls of retails and explore the new revenue streams that credit card processing will open.
There are also some cons to taking credit cards
- Cards can be risky. Fraud is a definite problem and cases of identity theft are rampant across the internet. But the good news is that a reputable merchant services provider like Freedom Card Solutions can offer PCI compliance and data breach protection programs to protect a business from these threats. When a business works with an experienced processor like Freedom Card Solutions, It take the complication of taking cards out of the process. Business will be provided with all the technology to facilitate transactions and have the proceeds of sales deposited directly into bank account within days. This will allow a buusiness owner to concentrate on customers and operations.
Taking credit cards can be expensive for abusiness. As a competitive industry, a business should be able to find the products and services at a price it can afford. Freedom Card Solutions can offer an affordable program to meet every business’ processing needs.
About Freedom Card Solutions
Freedom Card Solutions is proud to offer world-class merchant services, including EMV credit card processing, debit programs, gift cards, and more for companies of all sizes.
Freedom Card Solutions welcomes all merchant services transactions, including major merchant industries such as hotels, restaurants, small business, and e-commerce credit card processing. We are committed to serving all businesses, large and small. Freedom Card Solutions offers you the support and security you can rely on. Let us be your one-stop merchant solution. We are committed to being the payment processing company that optimizes your ability to seamlessly process credit card transactions along with providing you made-to-order intelligence that gives you the competitive edge that makes a real difference in your bottom line.
Freedom Card Solutions makes no representation or warranty regarding and accepts no liability for the accuracy of the content contained herein.
Company Name: Freedom Card Solutions
Contact Person: Media Relations
Country: United States