You can’t afford not to Accept Cards
Your customers carry cards. There are approximately 400 million Visa cards and 140 million MasterCards in circulation in the U.S. alone and they are used regularly. They are convenient, they increase sales, they are safer than cash or checks and they are efficient to process. With all this going for cards, it makes great business sense to accept them.
For over 40 years, credit cards have increased sales and profits for millions of Merchants around the world. The question that really needs to be asked is, can you afford not to accept them?
Just the Facts Maam
Visa’s research shows that:
- About one out of 3 purchases by U.S. consumers is made with a card
- 40% of all consumer spending is made without using cash or a check
- Visa cardholders spend more than $1 trillion a year
- On average, the “ticket” for a purchase with a Visa card is larger than the typical cash purchase
MasterCard has said that:
- Customers spend more when they’re not limited by the cash they have with them – customers like the flexibility
- Merchants with higher-margin products or specialty items may see those items sell more quickly
- Accepting cards can create more customer reward – and that means they’ll come back more often
- You and your customers can save time with cards, compared to handling cash and checks
- Merchants who accept cards have easier payment reconciliation and less theft and pilfering
Visa, MasterCard, American Express, and Discover all spend millions of dollars every year advertising the convenience of card payments – that advertising drives customers to your door. Card companies do your marketing for you by sponsoring sales promotions, contests, and other programs that are targeted to assist specific market segments such as retailers, restaurants, gas stations, convenience stores, grocery stores, car rental and parking, online sales and professional service providers.