It seems weird that a physical store has to accept credit cards, but the days of handling cash are over. Okay, so there people who still deal with cold, hard cash. But, these people are fewer and farther apart than ever before. It’s an irrefutable fact that the majority of customers use a thin piece of plastic to make payment. If your store isn’t on the bandwagon, there’s a healthy chance that it will miss out on lots of custom.
Below are four more reasons why stores have to accept e-payments in today’s day and age.
A business which doesn’t take credit cards forces customers to make a choice. The choice is simple: you can shop here, but you need to have cash in your pocket. Some people won’t mind this ultimatum because it won’t impact them whatsoever. But, the majority will bounce to a competitor because it makes their life harder. Consumers don’t want to bother ensuring they have pocketfuls of money before they hit the high street. Instead, customers see something they like and make a spur of the moment purchase. Without a card machine, it isn’t possible.
Even if you don’t agree with their methods, you have to be aware of how your rivals operate. Why? It’s because they may stumble on a technique which increases their market share. Simply put, more than three-quarters of your competitors will use paymentsprocessing.co to acquire a POS system. So, that means you have to mirror them or risk getting left behind in their dust. You might not think it’s an essential piece of equipment, but the figures say otherwise. Anyway, there is no harm in trying the material to see if it works. A point of sale machine isn’t expensive and is easy to resell.
In short, to upsell is to offer extra products which customers didn’t plan on buying. It’s an excellent way to shift additional units because consumers tend to give in to temptation. However, they will only throw extra items into their basket if they have the means to pay. Say they just have enough cash to cover the essential things, they are immune to upselling. It isn’t because they are strong-willed but because you have limited their options. A credit card machine encourages regular sales and additional ones, too. The amount of money which the company can make from upselling is worth investing in a POS system.
Accepting online transactions is the only way to run an eCommerce site. Frankly, it’s impossible to receive cash via the internet. Sure, you don’t have to set up a website, but the best companies have a digital presence. In fact, fourthsource.com says it’s vital in the modern day industry. Think of a site as a marketing tool which has the potential to move products and services. And, because it’s open 24/7, it’s a constant source of advertising and revenue. Without an online POS system, however, it’s pointless.
It seems strange to think that some stores don’t accept credit cards in 2017. However, they are organizations that haven’t made the switch, and it’s to their detriment.