Why Accept Credit Cards? There are several reasons why businesses would want to accept credit
cards. Here are a few: Increased Profits If you are selling to the public, you will
have higher average sales and more customers if you accept credit cards than if you don't. Higher sales mean higher profits, unless of course you are selling below your cost. Studies show that companies that accept
credit cards enjoy up to 40% more sales than those that do not accept credit cards. If you are selling over the phone, you are cutting off as much as 50% of your customer base by not accepting cards. Many buyers are
leary of sending checks and money orders to companies that are not local to them. Since you are spending the same amount of money to get these customers, accepting credit cards will increase your bottom line.
Obtain Credibility Everyone assumes that only established companies can accept credit cards. The
credit card companies do such an excellent job of promoting the use of credit cards, that you benefit by accepting them. By displaying the Visa and MasterCard logos in your ads or on your web pages, you will gain
credibility with your customers. People know that if they don't get what they were promised they can always request a refund on the purchase or get their money back from their bank. There are many scam artists on th
Internet selling products that don't esist, or are not what the customer thought they were. Your customers can buy from you knowing that they will be taken care of. Get the Impulse Buyers If you have a prospect on the phone, you can get the sale by asking for their credit card
number. You don't have to get stuck with the excuse, "I'll send you a check". Many prospects become suspects because they never actually send in the check. Whether you are selling using commercials,
infomercials, print ads, radio ads, or any other ad, when you get the prospect on the phone you can convert them to a customer by accepting credit cards. You also manage to get the impulse sale of someone looking at an
order form attached to your brochure or sales letter. If they don't have to write a check, it's easier to get them as a customer. Customer Convenience
If you use an order form to get your business, you make it real easy for the customer to pull out a credit card from his wallet or her purse. It's difficult
to do this with a check. Also, many customers want to use a credit card to get all the freebies their bank may be offering, like free air miles, extended product warranties, free long distance, cash back, rebates toward
cars or gifts, or other bonuses. Increased Working Capital By accepting credit cards, you
get your money in only 2 days. You are not extending credit to your customers, or waiting for out of state checks to clear. Many credit card merchants use the customer's money to purchase the product from their supplier
before shipping it out to the customer. You can enjoy tremendous sales growth without tying up a lot of cash in inventory this way.
Stop Losing Sales to Your Competition If you are not taking credit cards, and your competition who is selling the same or a similar product for a similar price
and does accept credit cards, who do you think will get the sale? With the powerful search capabilities of the Internet, it is easy to do comparision shopping in a matter of minutes. If a prospect has any interest in
paying with a credit card, you will never even get the call or order if you don't display the credit card logos. I never make a purchase through the mail or over the phone without paying for it on a credit card. If I
saw your ad, and you didn't accept cards, I wouldn't be calling you. It's a safe bet that most consumers would do the same. |