Businesses that have merchant accounts have more credibility than ones who do not. Having an account also allows them to accept credit and debit cards as well as other payment methods. Customers like to have options when it comes to purchasing products or services. Many consumers do not carry cash since plastic is so convenient. Here are a few of the ways businesses benefit from Accepting Credit Cards.

Payment Options

Having more than one payment option ensures satisfied customers will return. Repeat customers mean a potential for increased sales. In this economy, people are looking for options and convenience when they buy. If a product is on sale but the customer does not have cash, they may go elsewhere resulting in a lost sale. Increase sales profits by offering more ways to pay. Accepting credit cards improves a business's sales and customer experience. Consumers appreciate having options when it comes to making purchases.

Increased sales

Many businesses report an increase in sales profits with electronic payment processing options. Businesses that have multiple payment options appeal to consumers who like to purchase in bulk and do not carry cash or checks. Large orders are easier to pay for on credit because the payment is not made until the end of the billing cycle. Items can be bought now and paid for later or in installments which make buying larger ticket items more enticing.

Reach More Customers

Reach more customers with a website that offers online purchasing options. Many people are busy these days and have limited time for shopping and having this option means more sales and repeat business. The shop-at-home option appeals to many customers who typically do all their shopping online. The popularity of many home shopping networks proves this point.

Better Customer Service

Improving the customer experience ensures that the customer will visit again and refer friends. Word-of-mouth referrals are very good for a business's image as well as increasing profits. One person tells another person and they tell someone else. This is how valued customers are gained. Customer loyalty is valuable for any business because people tend to shop where they feel comfortable and valued.

The benefits of offering electronic payment processing are: • offering more payment options • increased sales profits • reaching more customers • improving the customer experience• word-of-mouth advertising

Businesses that are not accepting credit cards are missing out on a lot of benefits. To increase sales profits and gain more customers, look into the requirements for obtaining a merchant account and stop losing potential sales.