Three Reasons Why Every Small Business Should Accept Credit Cards
22 June, 2018
Running a successful small business is so much easier when you accept credit cards. It is preferred by many customers over cash and checks as a payment method. A small business can’t survive in the digital age without utilizing this fast and convenient form of payment.
There are three simple reasons why accepting credit cards will supercharge your small business.
A decline of brick and mortar stores and corresponding rise in e-commerce means a greater number of consumers are using cash to make fewer purchases. Offering more payment options will boost your overall sales. A larger number of customers will choose to shop at your business. They will also make more purchases because many credit cards offer incentives like points and mileage rewards.
Small businesses that rely on cash payments and checks are more prone to theft committed by employees. Cash is easy to access, so it is a popular target for would-be thieves. Bounced checks can be a hassle because it requires spending extra time tracking down a customer to resolve the issue. Credit cards throw up a roadblock. They create a digital paper trail for each transaction. Credit card transactions are also screened and processed simultaneously to reduce the risk of fraud arising from identity theft.
Improved Cash Flow
Debt is not your friend as a small business owner. Keeping operations going and growing requires a steady cash flow. Accepting credit cards can accomplish that goal. Most transactions are deposited to your bank account within a few days. This gives you the capital you need to pay expenses on time.
Dynamic Merchant Solutions is your solution for integrating credit cards into your business. Please visit us to get a free quote on our services.