Why All Businesses Today Must Accept Credit Cards

You’ve got a great idea for a business. You know it can’t fail – you’ve done your research and you know how to satisfy the needs of your market. “I’m on my way to success!” you think. Before you crack open a bottle of champagne, have you stopped to think about how people are going to pay for this product or service? Now’s the time to do just that. If you’re starting a business, make plans to accept credit cards – your customers will appreciate the convenience and ease.

Why Are Credit Cards So Popular?

According to a
Gallup study published in the fall of 2014, the average American carries 2.6 credit cards. Using estimates from the US Census Bureau, there are approximately 167 million Americans with credit
cards.

Are you wondering how many businesses accept credit cards? Researchers from the National Federation of Independent Businesses discovered that almost half of all American small businesses accept credit cards.

So, why do so many consumers and businesses use credit cards? They’re convenient form of payment for customers. In addition, they’re fairly easy to apply for and receive from credit card companies. There are also many different kinds of credit cards. Some offer consumers cash back on purchases while others give them the ability to earn rewards points.

The Advantages of Accepting Credit Cards

While there are clear benefits to shoppers, why should businesses accept credit cards? Firstly, their popularity makes them a very common way to pay. If you were to tell your customers that they couldn’t use their favorite method of payment at your establishment, they would be very upset. And many of them would stop doing business with you.

Secondly, credit cards enable shoppers to make a purchasing decision immediately. With a credit card, they won’t leave the store (or the website, as the case may be) in order to contemplate whether they can afford to buy your good or service. Credit cards give them the option of being able to pay it off over time, although you still get paid right away.

Thirdly, vendors have options when it comes to selecting companies that process credit card payments on their behalf. They can shop around until they’ve found the service provider that meets their needs. They’re not stuck with one company, especially if they’re a web-only business that doesn’t have any bricks-and-mortar stores.

Power Pay: Start Accepting Credit Cards Today!

If you’re starting an online business, you need to be able to accept credit cards as a form of payment. And you need to contact Power Pay. Power Pay is a national credit card payment processing service. When you use Power Pay, you can accept Visa, MasterCard, Discover and American Express. Our technology enables merchants to take payments on their websites with a virtual POS system. When you call Power Pay, we can set you up so you can begin accepting credit card payments the very same day! Call Power Pay now at 1-800-483-8815.