As a Businessman you would often question yourself as to why should you accept credit cards when the business runs fine with the traditional modes of payments. In this issue we will understand the need to accept credit cards during online transactions.
By 2006, around 90% of the purchases online will be made through credit cards.
The use of credit cards makes it easier for the clients to buy from you and increases client enrollment. Funds from credit card transactions and electronic check payments are available within 48 hours of processing. This implies that you don’t have to wait for checks to arrive and clear the bank.
Accepting Credit Cards increases efficiency since the funds are directly deposited to your account thus eliminating trips to the bank. The entire billing process is Automated resulting in a paperless processing giving monthly, consolidated statements. This results in reducing clutter and repetitious data entry.
For those with on-going clients, having the reporting on a monthly basis only once allows for greater focus on the working relationship. Payment becomes automatic each month. Clients like the ease of an up-front, in-place, clearly understood payment plan.
The use of credit cards gives the options to the clients of using several payment options thus making the transaction flexible and convenient to best meet their individual financial and personal needs. These options include debit cards (with VISA or MasterCard logos), credit cards, and electronic check payments. Their payments are also consolidated on one monthly credit card or bank statement.
It helps you reduce your receivables since the client makes the payment arrangements. Many corporations and government agencies now prefer paying by credit card. Paper check payments take up to 60 days or longer to process..
You can carry out International Transactions by eliminating currency conversion issues with your international clients. You can charge them using US dollars and their credit card processor will handle the currency conversion and bill them. Or use an International Merchant Account Program to charge using dozens of other currencies.
Clients enjoy using their credit cards to accumulate frequent flyer miles or other marketing bonuses.
When potential clients see that you accept major credit cards, it greatly enhances the credibility of your business. They know that you are a serious professional.
With an e-commerce solution, you can break the "billable hours ceiling" by selling products and packaged services on your web site 24 hours a day, 7 days a week, and it's all completely automated. You can sell e-books, booklets, teleclasses, CDs, cassettes, books, workshops, memberships, conference registrations, and more. If you were a consumer who had to choose between two online merchants when purchasing a product, whom would you most likely buy from – the one that accepts credit cards or the one that does not? It is not only convenient, but there is also a sense of legitimacy in a business that can accept credit cards over the Internet.
For more information please contact our sales office at 1-800-809-1989. |
