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Reasons Why Your Online Business Should Accept Credit Cards

June 07, 2013, 09:07 AM
By: Mark Sands
Topic: Sales/Business Development


Some of the most popular business magazines insist on ventures and businesses online to have various payment options. This not only is for the client’s convenience, but would also bring in more profits for the online venture as well. Today, we would like to give you four important reasons why your company should accept credit cards online. Hence, please read on and be well informed for the same.

1.Cash is so passé to use

People don’t often have cash ready at home when the deliveries are made. Hence most people, across the nation, prefer using their credit cards to buy products and services online. Irrespective of the pricing for items and services, people prefer using credit cards these days.

Even food outlets or FMCG retail outlets accept credit cards, irrespective of the buying being done. Everyone almost has a credit card on him or her. If your company online doesn’t give the customer this convenience, someone else out there would. You then would lose out on the purchasing power.

2. No one wants inconvenience when buying

Let’s assume you would like to buy your favourite book online. You check into one of the online book stores and finally find the book you have been hunting for. Disappointment here wouldn’t be the price, but the payment modes. Customers like you would hate it when credit cards aren’t accepted. Hence, let your company deal with merchant accounts and set up such payment modes that keep customers happy. It is cheaper to retain old customers who are loyal, than have new ones brought in.

3.Customers love freebies and rewards

Who wouldn’t want to have freebies and rewards, especially when credit cards are offering the same on every purchase they make? Cash back offers, promos, discounts etc, the plastic card does it all for them. If your business doesn’t help them capitalize such benefits, don’t expect the client to come back.

4. Don’t lose B2B purchasers

Most companies buy services and products in bulk, and that too from various online resources. This is either for their use or for re-sales. Companies prefer using credit cards, so that accounting for the same is easy on them. Imagine losing out on bulk orders, just because your portal doesn’t accept credit cards? That wouldn’t be nice for the business you run. This is also one of the reasons why clients would not want to return and buy from you. Think about it!!

While running a business online, apart from safety and security, one has to ensure customers convenience is respected at all costs. If you are unable to keep customers happy, competition out there would ensure to manage it all. They would go laughing to the bank, while you wonder where you lost out.

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