Debit and credit cards are, for many individuals, a preferred method of payment. Did you know that Visa cards are responsible for approximately half of all payment volume around the world? American Express cardholders spend approximately $7,714 each year with their cards, and Visa card holders spend approximately $1,725. It is hard to beat the convenience of debit and credit cards, unless you are a business which lacks the capabilities to accept them.
Depending on the services and products that you offer, having the technology to accept plastic could have a big impact on your business. Here are the technologies that your business might benefit from.
Card Payment Terminals
Consider the earlier statistics. Imagine the revenue streams you might be blocking off by only accepting cash, or checks? Additionally, when individuals have the option to pay with credit, the limit on what they can spend in your establishment is whatever their line of credit is, and not determined by how much cash is in their pocket. Credit card processing providers can help you with the entire process surrounding accepting credit cards, and using a card payment terminal in your place of business.
Mobile Card Payment Terminals
Some businesses might find that mobile payment processors are more valuable than the traditional terminals. They are usually attached to a mobile device, such as a tablet or smartphone, and they will allow your customers to pay you with their debit or credit card even if you are standing in the middle of a fairground, or in a food truck. Look for credit card merchant services with mobile payment solutions if you suspect that your business could use flexibility in accepting payments.
Online Merchant Account Services
Whether you want to have an eCommerce website, or want to provide your B2B clients with the ability to pay with their debit and credit cards, it is essential to have the right technology for an online merchant account. In 2013, Forrester research estimates that online shoppers will spend about $262 billion. If your products and services can be sold online, then this is a market that you want to be open to.
Finding the right merchant account services will allow you to access the technology necessary to accept payment online, on the go, or at your place of business. With online shopping on the rise, and the use of credit cards and debit cards more common than ever, can you afford not to accept these forms of payment? More like this article.