Three Reasons Why Your Company HAS to Accept Credit Cards For Business

Three Reasons Why Your Company HAS to Accept Credit Cards For Business
Is yours one of the few companies out there that still
doesn't accept credit cards for business? If it is, you
might be shooting yourself in the foot without even
realizing it. Credit cards can make or break a business,
and that's no exaggeration. Here are four reasons why your
company needs to accept credit cards for business -- no
ifs, ands or buts about it.

1. Almost 90-Percent of Online Transactions Are Paid For
With a Credit Card

If you have any hopes of taking your business online, you'd
better accept credit cards for business. If you don't,
you're only going to get about 10-percent of the online
transactions you possibly could be getting. No two ways
around it -- that's a sad, sad number.

2. Customers Want Convenience

I can't count the number of times I've been out of the
house with nothing by my wallet and a few credit cards. No
cash, no checkbook. The only way I could purchase a product
or service is with a credit card. If an establishment
doesn't accept credit cards for business, I won't be buying
from them.

Think about how many customers you're excluding if you
don't accept credit cards for business. How many people
won't shop with you -- not because they don't want to, but
just because it's not convenient for them.

When it comes to making money, you need to offer your
customers convenience. Credit card acceptance is a big part
of that.

3. You Can Charge More

If you offer a valuable product or service, you might not
be getting as much as you could for what you're offering.
Because cash-only consumers are much more price-conscious
than credit card consumers, you have to lower your pricing
when dealing on a cash-only basis.

If, on the other hand, you accept credit cards for business
you may actually be able to raise prices without losing any
volume. In fact, chances are your volume will increase now
that you've opened yourself up to an entirely new segment
of the consumer market.

4. Those Who Don't Ebb and Flow Will Eventually Die

The business world is in a constant state of evolution.
Historically, the companies that don't ebb and flow with
the changes eventually die out. Credit cards are a part of
that change. If you don't accept credit cards for business,
you may be heading in the way of the dinosaurs -- which
means facing extinction.

If your company isn't yet accepting credit cards, consider
the above facts. Yes, merchant accounts cost money.
Processing credit card transactions isn't free. However,
keeping the above in mind, can your company really afford
to not accept credit cards for business?

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