Wednesday, December 20, 2006

Why should my business accept credit cards??

Well, first of all you need to accept both Credit Cards & Debit Cards. Sure Credit Cards offer instant financing, but debit cards offer your customers the opportunity to pay with their checking accounts, hence the name Check Card. The biggest reason to accept credit cards is to allow your customers to pay with money they don’t have. So even though they don’t have the money they can “Get it Now”!!! So the item is financed and as long as you follow the card acceptance rules the money is yours!!! Now, accepting check cards has equal benefits. Obviously you can’t accept checks without check guarantee so why not accept checks without the hassle. You can swipe check cards like credit cards or with a little prodding allow your customers to enter their pin number for pin enabled debit transactions, which is actually cheaper. The bottom line is that for most businesses accepting credit cards is a MUST if you are serious about MAKING MONEY!!!

1 comment:

Anonymous said...

you don't necessarily need separate or specific capabilites for debit and credit card processing. most terminals and processing companies/banks will let you process a debit card as a credit card, though generally it is more cost effective to be able to process debit cards as such. meaning, the fees are lower. it really depends on the volume of sales your business handles.