Merchant Accounts

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Credit Card Payment Services

Written by Patricia Tunstall
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Credit Card Payment Services Create Customer Loyalty

Credit card payment services are crucial to the financial success of a business. Modern shoppers expect the convenience of paying with any conventional method, and they are used to making the choice themselves. For a business in this day to be unable to accept major credit cards is disastrous.

Studies show that customers very definitely prefer to enter a store which indicates it takes credit cards. If there are no posted signs on the outside of the store windows, customers tend not to ask if a certain card is accepted; they simply shop at a business that advertises its acceptance of credit cards. Customers who can pay with a credit card also tend to return to stores where they have made credit card purchases, which create customer loyalty.

Credit Cards Encourage Larger Purchases

Consumer habits and trends have been extensively studied for years by industries that offer products and services to the public. Making purchases with plastic instead of cash encourages impulse buying when patrons buy an item they see and want which they had not planned to buy. Credit card payment services make it easy for a patron to decide to purchase something because they don't have to be concerned about having enough cash on hand or in the bank.

Businesses that accept credit card payment also find their customers making more expensive purchases than those who must pay cash. Consumers may even spend beyond their ability to pay immediately, and they count on the credit card payment coming due in the future. The thinking is that the cash may not be available now, but credit is not really paying out cash, and the bill does not have to be paid right away. Merchants who have good credit card payment services are able to tap into these consumer spending habits to increase sales.

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