Accept Credit Card

Video Transcription

Hello, This is KC with Quantum Merchant Services. Today we are going to talk about Accepting Credit Card. Three important factors in regard to this topic are Global Impact, Convenience and Benefits.

Regarding Global Impact, what is most important to know is that in the world of business you've heard the phrase "cash is king" that's a very popular statement or model in the world of business. But, what is most important regarding this particular topic is that actually accepting credit card is probably becoming more popular then actually accepting cash. What makes this even more profound and true is in 2009 Visa and MasterCard reported over 470 million credit cards in circulation in the United States along, excluding the rest of the world.

As far as Convenience, as a business owner offering and accepting credit card provide a lot of convenience for your customers. Basically, it provides as you would imagine, immediate short term financing for customers who don't have cash on hand. And, the benefits to the business owner is that it allows them to make a sale immediately they don't have to wait into the future to have that customer to come back and include the transaction. What a good sales person knows and understand is the impulsiveness of the customer. When a customer has the ability to make that purchase and if they don't have to worry about " Oh my god I don't have the money in my pocket right now" but they have the credit card to use, that smart sales person was able to make that a benefit of having that particular part of the service right now apparent to that customer. And that one of the reasons why, you as a business owner should make that available to your customers. That's basically it, the convenience, Global Impact and benefits of accepting credit card.