3 Reasons Why Accepting Credit Cards Makes Business Sense

Personally I put off accepting credit cards for years. Then incrementally I tried Pay Pal and Google invoice for those rare occasions that clients insisted on paying by credit card.  Pay Pal and Google invoice, while helpful, didn’t provide the credibility for our business; as we’d experience problems with no one to call. So here’s what we’ve found since adding Sage Payment solutions with their virtual terminal.

1. We’ve lowered our days to collect; as many prefer to pay via credit card (reward points).

2. Sales have increased (allowing non bank financing for our products and services).

3. We’ve reduced our exposure to bad debt. A credit card on file for those accounts who might not have enough credit terms with your company allows the sale to move forward without risk.

Yes, accepting credit cards cost around 3% off your top line, however if your margins are really tight, add a credit card processing fee.  You’ll be surprised how many people understand and accept the fee in order to use their credit card.

We’ve only been accepting credit cards with a true merchant account since the July.  The volume of sales through the credit have been astounding.