If your company does not currently accept credit or debit cards, you may be missing out on more opportunities than you realize. According to NY Biennial Statement Online, here are the reasons why you should consider expanding your payment alternatives.
Accepting credit cards means you’ll get paid more quickly.
Purchases made with a credit or debit card are usually deposited within 48 hours after the transaction. Compared to the time it takes to send out invoices and wait for payment or for checks to clear, this is a significant saving. To put it another way, card payments aid cash flow.
Cardholders tend to spend more than those who pay with cash or cheque.
According to Forbes, when consumers are not restricted by the amount of cash in their wallets, they spend more. People who pay with a credit card are also more likely to make impulse purchases that they would not have made otherwise.
The advantages that card payments provide are highly valued by your customers.
When you ask your clients which method of payment they prefer, the majority will say cards. Many cardholders want to take advantage of the airline miles, cash back, or other incentive programs their cards offer, in addition to finding them safer and more convenient than alternative payment options. You will boost their pleasure with your company if you provide them with that opportunity.