In the past, businesses might have been able to thrive with cash-only policies that made customers go to the ATM before they tried to make a purchase. However, in today’s marketplace, not being able to accept debit and credit cards can prove to be a mistake, regardless of the products or services that a company sells. Unfortunately, making the transition is generally more difficult than the average consumer might realize, and it is not necessarily as simple as installing a credit card machine. Because of that, many companies will partner with merchant credit card services who can provide both the technical equipment and advice that owners need to accommodate the needs of every potential customer.
Working with merchant credit card services can be particularly valuable for Canadian businesses who do not want to lose customers to businesses from other countries. More than 35% of cross-border power shoppers in the world live in Canada, which represents millions in profits that businesses are not taking advantage of. While there are several factors at play beyond companies simply lacking card machines, owners who want to build a successful Canadian business should make sure that they are able to accept credit cards. That ability could set them apart and help ensure success.
Nowadays, not having a strong web presence and encouraging online sales will prove to be a mistake. Online sales are consistently on the rise, and totals could reach some $370 million by 2017 in the United States alone, according to projections by Forrester. But 53.3% of North American businesses say that providing online shoppers with a wide range of payment options is complex. This can be particularly true for owners and managers who have little or no experience. If that is the case, then hiring merchant credit card services is not only a good idea, it is essential.
Cash will most likely always have its place, especially since some people don’t want to carry their cards around with them everywhere they go. But the fact that they are so easy to use and convenient has allowed them to drastically change today’s marketplace. As a result, businesses who want to attract and sell to the highest number of customers should make sure that they can accept credit cards. Merchant credit card companies are a great resource to help make the transition away from cash-only policies easier. More: www.bnasmartpayment.com
