Having a business that has the capability of accepting credit card payments is becoming more and more important. If your business does not take credit cards, it can be an inconvenience to the customer, and you could also potentially lose a sale. Below are a few scenarios on why accepting credit cards can play a vital role in your business.

1. The customer does not have any cash

Not having cash is one of the biggest reasons why accepting credit cards plays such an important role in generating sales. Let’s say a customer has never been to your cash-only business and they walk in with the intent to purchase. The customer is then greeted by the “cash only” sign at your register or they are simply told that your business is cash only. Your business may provide an ATM to assist the customer with the cash-only requirements, but the ATM most likely charges a withdrawal fee. Not only is being cashed only inconvenient for cashless customers, but it can also end up costing them more with the additional ATM fees. In this scenario, you take the risk that your potential customer decides to leave your business without buying what they intended to purchase. 

2. Increase impulse purchases

When a customer enters your store, they usually have an idea of what they are intending to purchase. However, say that the customer sees something that they really like, but were not originally planning on purchasing it in the first place. If your business is a cash-only business, and the customer only brought enough cash to purchase the original item they intended to purchase then it decreases their chance of an impulse purchase. By taking credit cards, you are giving your customers the flexibility to buy more than what they planned to, which increases both impulse purchases and your revenues. 

3. Eliminates the spread of germs

Printed money already has the reputation of not being very clean. Given that, we just got out of a pandemic, providing customers with contactless payment methods creates more health safety in the payment process. Providing a “tap and go” payment terminal decreases the transaction time and contactless payments also eliminate the spread of germs which makes both the customer and employee feel more comfortable throughout the transaction.

There are many other reasons why it is now necessary to accept credit card payments when you run a business. With the new technologies, your customers can even pay using their smartphones and smartwatches. Because of this, businesses need to stay up to date if they want to prosper over time.

If you want to start accepting credit cards, or if you want to upgrade your current equipment, reach out to us! Our team is ready to assist you! Call or text us at 866-444-8585 or send us an email at info@tcbpay.com.