Merchant Account Reviews

Why Accept Credit Cards?

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You may be asking yourself why should your business accept credit cards. Today, accepting credit cards for every business is a must. Several decades ago, cash and checks ruled the payment arena. With the convenience of paying with plastic, the amount of customers wanting to pay with credit cards has soared to over 3 trillion a year. This is all because more and more merchants are accepting credit cards by opening a merchant account.

Top four Reasons to accept credit cards:
  1. Increase your sales
  2. Faster Checkout
  3. More Convenient
  4. Cheaper than Cash
Increase your sales
Several studies have shown that the average size of credit card orders is up to three times larger than cash and check. There are several reasons for this. One being that consumers like to keep their current life style and that can result in charging for purchases and paying it off later. Another reason is it allows consumers to make purchases without the need to carry around a lot of cash. This can make consumers feel more secure.

Faster Checkout
For retail merchants, accepting credit cards can speed up your checkout line. It only takes a few seconds to swipe a credit card and receive an approval. Whereas it can take a lot longer to take cash and give change or wait for a customer to write out a check.

More Convenient
For Internet and non-retail businesses, it is critical to accept credit cards. Today, very few consumers want to purchase something online and pay by mailing or faxing in a check. Charging it on a credit card is much more secure, faster and convenient for them as well as the merchant. It would probably be safe to say that the majority of all transactions online are handle with a credit card.

Cheaper than Cash
Credit card orders are generally always much larger than cash or check orders. For this increase in revenue, it can easily justify and pay for the cost you incur in accepting the credit card. For example, if your credit card orders are a low 10% larger than cash, then that easily pays for the 2% or 3% it would cost you to accept that credit card.

Credit Card Processing Articles
  1. Why Should you Accept Credit Cards?
  2. The Different Types of Merchant Accounts
  3. How to Avoid Credit Card Processing Downgrades
  4. Merchant Account Responsibilities
  5. The Different Types of Credit Card Machines
  6. What is a Merchant Account?
  7. Why Avoid Credit Card Terminal Leases?
  8. 3 Ways to Save Money on Credit Card Processing
  9. Credit Card Processing Checklist
  10. Pros & Cons of Credit Card Processing
  11. What to Expect in Your Monthly Statement
  12. The History of Credit Card Processing
  13. Recent History & Future of Credit Card Processing
  14. The Different Organizations of Merchant Services
  15. The Glory Details of Disputes, Retrievals & Chargebacks
  16. Understand All the Risk with Merchant Services
  17. Factors & Guidelines to Merchant Service Underwriting
  18. The Life Cycle of a Credit Card Transaction

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