While there remain plenty of ways to pay for goods and services, including cash, direct debit and payment services such as PayPal, being able to pay by card is now a key expectation of consumers in all industries.
Partly through convenience and partly through the relative security of not having to hand over sensitive information such as bank account details, paying by popping a credit or debit card into a PIN-protected machine is now the default in many shops, as well as the preferred payment method of many shoppers.
This can mean that those not offering this service – even if they offer a range of other ways to pay – can run the risk of seeming backward and awkward. This impression can transfer to the would-be purchaser’s view of products and services, however unfair this assumption may be.
What is clear, is that NOT offering card payments is fast becoming a niche activity and one to be avoided if possible! That’s the case whether your business is face-to-face or online.
As well as convenience for the customer, card payments also offer a range of benefits to the company or individual taking the payment and are generally quick and easy to set up.
Apart from giving customers who are able to pay by card their payment method of choice, particular benefits include:
1. Payment immediately, rather than having to wait to bank a cheque and then for it to clear
2. Less cash on the premises, which has savings in both security needs and time needed to take it to a bank to pay in
3. Customers who wish to purchase an item but don’t have enough cash on them are still able to go ahead
4. It is harder for a customer to claim fraudulent use of their card if they have had to enter their own pin for the sale to go through
Of course, there are some costs involved, although these vary according to the package you negotiate, typically based on the volume and amount of transactions involved. But it is unquestionable that on balance, the benefits to your business of offering card payments far outweigh the relatively small costs involved.
Here at Boxx we offer a card processing solution that is real alternative to the traditional high street banks. Our rates are competitively priced and you can even hire a payment terminal too.
If you want to find out more about card processing or any of our other services, contact us here.