The Importance Of Credit Cards
But sometimes, a little helpful guidance can help you discover brand new ways to grow your customer base and increase your bottom line - all without breaking the bank.
Take credit cards, for instance. It 's likely you 've thought about accepting credit cards at your business. But something is holding you back. Maybe you aren 't sure how to go about it, or what steps you should take to select a merchant account provider - the business that handles credit card …show more content…
No matter where you do business, processing of credit card transactions is handled effortlessly by your merchant account provider. By using a retail terminal - called a swipe or point-of-sale (POS) terminal - a web store shopping cart, or a computer or cell phone, all credit card information is sent electronically to the card issuer, where it 's validated and approved for processing. At the end of the day, all of the proceeds from your account are transferred automatically and seamlessly to the business bank account you 've designated. No fuss, no hassle, and no risk of lost or stolen cash or checks.
Credit cards can give your business "instant credibility." Consumer researchers have spent a lot of time studying the spending habits and attitudes of credit card users, and one of the most interesting bits of data they 've uncovered is that businesses that accept credit cards are viewed much more favorably than those that only accept cash. Consumers tend to view those businesses as being more trustworthy, established, and financially secure than cash-only businesses. And that attitude exists for both credit card and cash