To help decide whether to take cards or not, here are some reasons why accepting cards could improve business:
- Customers increasingly expect to be able to pay by card.
- Payment at the time of the sale – no more “the cheque is in the post” – and the money is in the merchant’s bank account, typically, within four working days.
- Potential cost savings from holding less cash – saving on the security required to look after this money and trips to the bank to pay-in takings.
- Improved cash flow with less support on financing such as using an overdraft or loan.
- Easier to make a sale, if customers do not have enough cash on them at the time, they could use a cardinstead.
- It is usually quicker to accept card payments than a cheque.
- In most cases, where a customer uses a chip & PIN card in a shop, this will be a guaranteed payment for the merchant as the customer cannot claim they did not initiate the transaction.
- When businesses take card payments they know exactly how much the transaction will cost to process, and this can help when putting together a business plan.
Contact us today to get Your Business ready for sales by debit and credit cards.