The truth is, most customers expect to be able to pay by card these days, even just for small purchases. More and more customers are now opting for the speed and convenience of card payments, meaning businesses that remain cash-only are at risk of being left behind.
With the advent of contactless and the ability to pay with your mobile phone or even your watch, the days of cash seem numbered. Using a card merchant service provides a number of benefits, such as:
Better customer experience
Taking card payments is quicker and easier, resulting in reduced queuing times and a more streamlined experience for your customers. This is especially true of contactless payments.
By accepting card payments, you significantly reduce the amount of cash you keep on-site. This reduces risk and means fewer trips to the bank!
Most people will perceive a business that accepts credit and debit cards as more credible, not least because customers expect to be able to pay this way. Customers may choose a competitor over your business purely on that basis.
Following on from the previous point, some customers may choose not to use your business because you don’t accept card. People just don’t carry around cash like they used to. By accepting card, you open your products/services to a larger audience of people.
Sales can also be boosted because it encourages impulse purchases, such as when your customers don’t have quite enough cash on them or see an extra item they didn’t initially intend on buying. The tendency towards spontaneity when paying by card offers immediate benefits for retail businesses.
Certainty of income
When you invoice a customer, you have no idea when they will pay it. Card payments, however, usually clear within a few days so you know when to expect the money to hit your bank. Accepting cards will also save you time as you won’t have to chase payment for invoices.
Of course, there are a few drawbacks, but these are greatly outweighed by the considerable benefits. Perhaps the main drawback is that there is a cost associated with card merchant services. Fortunately, this is something we can help you with. There are many different options out there, but we can find a solution that is tailored to your needs.
With so many providers out there such as Worldpay, Barclaycard and Paymentsense (to name a few), ‘shopping around’ can be a challenge. Our dedicated team takes the hassle out of this process, so all you have to do is sit back and let us find you the best option.
Even if your business is already taking card payments, you may be overpaying or using a card merchant service that isn’t right for you. Again, we can assist here too.
All you need to do is get in touch and have a chat with us, we’ll do the rest.