Not accepting credit cards at your business is significantly hurting you. It’s the hard truth many service providers need to come to terms with. Most of the time, it’s comes down to one or two excuses:

1. The business owner doesn’t think they need to. 
2. They think it’s “too expensive” to accept credit card payments. 

Let’s take a look at a few reasons why these excuses are wrong and the business benefits of accepting credit cards. 

You’re Cutting a Huge Segment of Customers Out

To rebuttal the first excuse, you simply can’t reject potential customers because you’re a cash only business. Although it might sound harsh, today’s paying customers expect that they can use their credit card practically anywhere. There are only two scenarios where not accepting credit cards kind of makes business sense:

• You’re in the insurance business with no opportunity for up sell. You get premium checks every month and that’s it. 
• You only serve customers in super rural areas where cash is largely the only payment option. 

Even with those two very rare options, it doesn’t hurt to offer credit card payments. Customers want options. In fact, 80% of transactions are cashless (including checks). Customers want to build their points too, and know that their payments are protected. 

With card payments, customers know that should anything go wrong, getting their money back is easier than fighting with a provider in court. They just call their credit card company, plead their case, and their money is safe. That’s not possible with checks and cash, and this protection serves to benefit your business too, assuring customers their purchase is safe. 

Credit Card Processing is a Worthy Investment

Many providers see the initial price tag to set up credit card processing and immediately assume it’s too expensive. There’s a cost for most everything in life, but forgoing something as beneficial and vital because of perceived expenses isn’t smart. 

Sure, the bigger name brand processing providers can seem overly expensive, but if you’re turning down multiple credit card payments a month and know you need that business, you can shop around and find more affordable options for your business. Plus, if you’re offering larger ticket items and services, you can pass the percentage fee through and add it to the total price. 9 times out of 10, customers don’t have a problem with that because they’d rather use their card anyway! 

The Bottom Line

The simple truth is, you’re doing your business a disservice by not accepting credit cards. So, start shopping around, find a provider that works for you, and reach more customers with the convenience and security they demand in today’s marketplace. 

To learn more about accepting credit cards and how to get started fast, visit www.paymentpilot.com