Merchant Accounts

Merchant Accounts


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Credit Card Payment

Written by Patricia Tunstall
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Credit Card Payment Increases Sales

If credit card payment is available to customers, sales increase several fold. Customers tend to shop at businesses displaying credit card signs, rather than going into a shop and asking if a particular card is accepted. In fact, if a retail store has a credit card merchant account and accepts credit card payment, business can increase up to 40%!

Not only will your business increase, but you won't lose customers who either don't enter your store or don't bother to ask about credit cards if you don't have signs posted. Customers spend up to 2 1/2 times more when they can use a credit card instead of cash. Impulse buying increases with credit cards, and customers make larger purchases than if they can only spend cash.

Regular Sales Pattern

Consumer sales have been studied by various businesses and industries for years. It is clear that customers who must spend cash rather than use credit cards spend more on paydays and just before holidays. In contrast, credit card users buy when they need something, or when they want to take advantage of advertised products.

They also buy because they want something or see an item they want when window shopping--impulse buying. Buying with plastic enables them to get what they want when they want it. This spending pattern of credit card users tends to spread out their purchases throughout a month or a season, unlike customers who spend cash. With a credit card payment gateway, you can fully utilize the system to increase sales.

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