I met with a small contractor yesterday who does home remodeling, additions, basement finishes, woodworking, electrical, plumbing, and a variety of other items. He said times were hard and he was looking for any work right now. I asked him if he accepted credit cards. His response was that he didn't want to deal with that. My contractor friend wanted to know what credit cards could do for his business. I have posted some general items that I have heard and observed from our current merchants.
- Don’t turn away sales — or risk losing sales as a result of not offering your customers the choice of paying with credit cards. Some customers may decide not to buy if they can’t pay with a credit card — especially bigger ticket orders.
- Accepting credit cards helps your business appear more professional. — Even if you have no website or have a home-based business by accepting credit cards your business can seem more established and legitimate.
- Service-oriented businesses can benefit — by simplifying collections and increasing cash flow. Lawyers, accountants, consultants — all can cut down collections headaches and get paid faster. Statistics show that 24% of accounts receivables are 90 days old or more. This number can be as high as 75%. By accepting credit cards, you immediately solve an aging receivables problem and get your money much faster.
- Increased customer service is one benefit — to both retail and service oriented businesses from accepting credit cards. Convenience, speed, electronic records – these are all benefits of accepting credit card payments and providing superior customer service.
- Retail businesses can increase sales — by accepting credit cards. Statistics show that the average credit card order is 3 to 4 times larger than the average check or cash order. Accepting credit cards as a form of payment can increase sales anywhere from 40% to 400%.
Connected Pay LLC is a one stop shop for credit card processing. We offer a customized virtual terminal interface, merchant accounts and gateway services. We have done the research so you don't have to. We use the same merchant account we offer to our clients. If you would like some info on how Connected Pay can help your business, drop me a line. E-mail me.
