Things Every Business Should Know About Payments—A Series
1) Benefits From Accepting Credit Cards Make More Money: Consumers spend twice as much when using a credit card rather than cash. When using cash, a customer only has a limited amount that they can spend. With a credit card, money seems endless (even though it’s not), and buyers are more likely to “splurge” since the payment doesn’t seem immediate. Increased Revenue! : It’s rare that someone carries around more than $20 cash now-a-days, and pennies, nickels, and dimes are almost extinct. When the total comes out to be $21.44, and the buyer only has a $20 bill, it is more likely that they will just resort to using their credit/debit card rather than scavenging through their purse to find spare change to pay the difference. Keep Track Of Who’s Buying: When a customer uses a credit card, they end up leaving you with some way to identify them—usually a name—which can be beneficial to your business. Keeping customer information on file can be a w...