Improving sale volumes is a key goal of all businesses, especially those who sell goods and services in store. Are you capitalising on all the customers you get through the door? Today, we’re looking at the reasons why your business must accept card payments.
How and where we shop has evolved drastically over the last two decades. More of us are shopping online than ever before, leaving traditional high street retailers feeling the sting. As access to the Internet became the norm across the country, many shops we were once reliant on disappeared overnight.
For those retailers who have ridden the storm and remained on the high street, maximising sales has never been so crucial. Are all retailers ensuring they can accept payments by card as well as cash? Unfortunately, the answer is no. Despite figures suggesting that 80% of shoppers would feel more inclined to take their custom to a shop who takes card payments, some retailers simply aren’t yet making the move.
As each year passes, we are becoming more and more reliant on plastic. By plastic we of course mean our credit and debit cards. It’s apparent that the aforementioned stat is likely to increase year on year. Why do we prefer card payments? The simple answer is safety and ease. If you lose cash while out and about, chances are it’s gone for good. Lose a bank card however and one quick phone call ensures it’s effectively worthless to anyone who finds it.
So, why should retailers who don’t currently take card payments make the move?
Offering more payment options of course opens you up to more sales. As we mentioned previously, most shoppers will be more likely to browse your shop if you take card payments. Carry a high volume of cash of course puts you and your staff at risk. Card payments are sent directly to your merchant account safely and securely. PDQ terminals like those offered by Ingenico and First Data can also accept ‘Contactless’ payments, the very latest way for customers to pay both quickly and securely.
Contact a card payment service provider today to ensure you’re maximising your in-store revenue. Contact one of our team members today who will be happy to discuss this with you, as well as any other question on business finance.