Why small businesses should accept credit card payments

Small business accepting card payment

Are you a small business looking to implement a card payment option for your customers? Here are five key benefits for choosing to accept this particular payment method:


Convenience

Recent surveys suggest that in this modern age the majority of British consumers carry less cash. You will find that by accepting card payments within your small business you are not only greatly increasing convenience for your customer, but also for yourself as a business owner.

You will be less likely to lose a sale should the consumer not have the adequate funds in cash especially when you have special offers or multi-buy discounts which lead to impulse purchases. This is particularly prevalent in rural locations with limited access to cash machines or high street banks.

Installing a card terminal is the answer for simple and convenient transactions in your place of business. As an industry leading provider of debit and credit card processing services, Chip & PIN Solutions are here to help.


Business growth

As mentioned in the section above, the lure of an electronic payment option could draw in the impulse buyer and for those customers without adequate funds in cash on their person, it would not hinder them from completing their purchase. You will be offering the customer a fundamental factor in their shopping experience – choice. This will lead to customer satisfaction as well as potentially increasing customer retention in the process. Studies have shown that introducing a card payment method into your business typically leads to an increase in sales of at least 30%.


Appearance

Trust is a vital aspect between a consumer and a retailer, not only in the product that is being purchased but also in the transaction itself. To offer a card payment service within large and small businesses has become standard. In today’s age consumers expect this payment service to be available to them.

This functionality will allow your business to appear professional, trustworthy and modern. Being left behind without this technology could potentially lower a customer’s trust and confidence in your business. By offering a chip and PIN payment method this not only provides the buyer with protection when using credit cards, but you are showing consumers that you are both a contemporary and developing business and in turn potentially boosting their confidence in your product and service.


Instant transactions

Are you a small business that primarily bills in invoices? If so then you may have experienced a situation in the past where you have been left awaiting payment for your product or service. This could have a detrimental effect on your business by taking up much time to resolve to even leaving your company without funds. A chip and PIN card machine will solve this issue as the technology that Chip & PIN Solutions supply allow for instant transactions.

A card processing machine could also assist with your bookkeeping by allowing you to keep track of all previous card transactions with ease.


Efficiency

Time is precious. Time is money. These common expressions are very true – especially to a small business owner. With the installation of a card machine more time can be spent focussing on developing the business rather than trying to identify previous payment issues. Electronic payment machines can reduce human error and could potentially turn cashing-up at the end of the day into a pleasant experience.

 

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