How Providing Payment Options Benefits Your Business

To run a successful business, it’s imperative that it offers excellent customer service. Consumers need to feel welcomed and appreciated by the stores they visit. As well, your company needs to offer high-quality products and services. There is a lot of competition out there. What you offer has to measure up. Finally, it’s become practically vital to offer customers payment options. If you don’t accept credit cards and debit cards, your business will suffer.

Let’s discuss how providing payment options benefits your business!

It provides a great convenience to customers.

It doesn’t matter how great your products and services are. The people who support your brand want to feel valued and appreciated. By accepting all forms of payments, you directly speak to their needs. You enable shoppers to avoid carrying around a lot of cash. This helps them to avoid the risk of loss or theft. Moreover, using credit or debit to pay for purchases is the quickest and most convenient way to do so.

“Cheque books and cash simply aren’t the go-to anymore for most retail or service-based purchases,” points out TheStudioDirector.com, “Credit cards are…Secure, simple and seamless, credit card payments are the industry standard for consumers and businesses.”

It grows your customer base.

Consumers want to use their credit cards. It’s just that simple. With cash, they are limited to purchasing only up to the amount of money they have on them. By offering payment options, customers are able to spend up to the amounts in their bank accounts (using their debit cards) or up to their credit limits (on their credit cards). By showcasing the logos of Visa, Mastercard and Interac at your place of business, you will welcome a much larger number of customers.

According to Miranda Russell on Helcim.com, accepting credit cards leads to “more sales, more rewards as incentive for your customers to make those big purchases through you, and more customers who want a piece of the pie. No matter how good the hotcakes are or the signature sauce is, the last point of contact (and possibly the lasting impression) with your customer is paying the bill.”

It improves your cash flow.

When customers pay with cash, you must wait until you’re available to visit your bank in order to deposit the funds into your business account. With credit card and debit card payments, the money is automatically deposited into your account. That gives you quicker access to funds needed for running your business.

“By accepting credit card payments for your business, you can enjoy the actual cash flow you expected during registration,” says TheStudioDirector.com, “(It allows) customers to set up recurring payment plans. It saves them time and brainpower and ensures on-time payments. With predictable and reliable cash flow, you can better forecast future revenue to invest back into your business.”

Does your business accept credit cards as methods of payment?

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 [email protected].