In this week’s update, we discuss the advantages of accepting card payments in a business that may currently be cash only.
For any small business, making that step into offering card payments to your customers can be a daunting decision to make if you have never had to think about it previously. Taking cash payments can be seen as an easier option but is it really?
That is why Card Cutters are on hand to walk you through the whole process step by step and offer you all the support you need for setting up your POS card payment facility.
There are many advantages in being able to offer your customers the option to pay by card and even contactless technology, here we cover just a few.
The major advantage of accepting card payments is that things can be made easier in the handling of your profits. Nothing to worry about the storage of your cash and when you will have the chance to deposit it at the bank is just one of them. The ease of accepting card payments makes the whole process invisible to you and your customer. The money is transferred from your customer accounts to your business account in a matter of days.
It is also a much easier option for your customers, in a society where carrying cash is not the most used option anymore, the ability to make a purchase on their card may well increase the propensity to purchase products and services from you rather than a competitor.
Alongside the notion of ease comes that of speed. In a busy environment, ensuring the transaction is as swift as possible can help maximise profits and ensure customer satisfaction. The quicker an item can be paid for, the better the experience will seem.
Impulse purchases can also benefit strongly from a speedy transaction, offering your customers less time to talk themselves out of making a purchase or think twice about spending. As cash handling is not involved, card transactions are inevitably faster and can be conducted easily at locations other than a set checkout area, if you choose a mobile POS Terminal option, further reducing the time and improving the customer experience.
Offering the option to pay by card creates a level of professionalism and will help to build the confidence levels that you are running a trustworthy business.
Many customers now expect and demand the ability to conduct transactions by card as standard, and not offering this could create a negative image and land your customers directly to your competitor who may offer payment by card.
Other options can also be opened in the areas of taking telephone or online orders, where card transactions are necessary. As well as the financial profits involved with operating these services is the further presentation of a professional and forward-thinking business that will appeal to customers.
Having as little cash as possible on any business premises is always a wise move, and card payments can help enormously with this. Not only are the risks on-site such as theft or accidental loss or damage to cash stocks eliminated, but elements such as trips to make deposits to banks can be taken out of the equation.
If you are a small cash-only business looking at accepting card payments, then please get in touch with us to discuss your needs today!