Why You Need To Accept Credit Cards

The world is digital but cash is king

In my businesses I prefer taking cash payments. I have ambivalent feelings about it because the process of paper check handling is so cumbersome. Business accounts often don’t have the benefit of consumer functions like depositing checks by snapping a picture from your phone. So you’re stuck making a trip to the bank branch for a deposit.

phonedepositTaking credit cards has always been tough especially if your transactions are small. They bite around 3-4% of your total and you wonder why. Studies show that American consumers don’t like using cash. The younger the consumer the less likely¬†they will have checks or cash.

 

makecalc

Make The Calculation

You have to make the calculation for your business. What is the demographic and what do your customers prefer paying. Don’t make the mistake of projecting your expectations on them. If clients are asking what payment methods you take then that person prefers to use a card, debit or credit.


No Comments

Comments Closed