Why Accepting Credit Card Payments Works

2007-03-08 10:33:40

( Financial )



ACCEPTING CREDIT CARD PAYMENT is very popular for many businesses - especially among small businesses that target consumers. Entrepreneurs who DISCOVER PAYMENT of this mode provide convenience and flexible ways for customers to pay. More importantly, many businesses benefit from ACCEPTING CREDIT CARD PAYMENT for it allows tapping into bigger market and improving cash flow, among others.

Responding to Customers
Businesses ACCEPTING CREDIT CARD PAYMENT are able to respond to customer preferences - to pay through credit card. Examples of this type of buyers are customers based overseas. Credit card payment enables this type of customer to avail of your products and therefore enabling your business to reach wider customer base - those who can't reach your premises and those who only have access to you through phone or the Internet. ACCEPTING CREDIT CARD PAYMENT takes care of currency differences and saves your business of valuable time that would take for a cheque to travel from your customer. You could lose a large number of overseas customers if they DISCOVER PAYMENT through credit card is not an option.

Tapping into Bigger Market
Another plus, ACCEPTING CREDIT CARD PAYMENT encourages impulse purchases. Online businesses can attract impulse buyers through effective advertisements and hyped catalogs. If consumers have a means of making a purchase immediately, you're sure of a sale. If you only accept cheque payments, the additional time it takes for them to get their cheque book and mail out the cheque may be harmful to you. They may also have second thoughts later.

Improved Cashflow
Lastly when buyers DISCOVER PAYMENT through credit card is available, your business benefit by having an improved cashflow because card payments clear more quickly than cheques. Credit cards almost always have higher spending limits than cheques and with a reduced risk of payments being declined, your sales even soar.

A word of caution, make sure transaction costs for ACCEPTING CREDIT CARD PAYMENTs add up against the increased profit you may get by accepting cards.


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