7 Reasons Why Small Businesses Should be Using a Credit Card Terminal

As a small business owner, you’ve got a lot of decisions to make. You’ve got to hire employees and keep them happy and productive, work on your product or service, maintain social media and branding, and decide how to get paid. Back in the day, cash was a pretty good option, but not as many people carry it post-corona. And checks, does anyone even write checks anymore? So maybe the best option is to accept credit cards, even for small businesses. Whether you're a large, medium, or small business, whether you’re fully virtual, in brick and mortar, or on the go -there is a credit card solution for you.

And here are just a few reasons why you should go this route.

1.  Accepting credit cards legitimizes your business

Yes,credit cards add credibility to your business. Even if you’re just a one-person show, accepting a credit card adds a component of trust between you and your customers. It makes your business look more professional and legitimate. It also shows them that you are confident enough in your product or service to allow your customers the opportunity to dispute something on a credit card. Also,when you have payment options, you can display the credit card logos on your website and it looks, well, more official.

 

2.  You can boost sales with credit card acceptance and credit card terminals

There are quite a few reasons that your sales will go up when you accept credit cards. Let’s take a look:

●     People like paying with credit cards. It gives them that sense of assurance that even if something goes wrong, they’ll have recourse. They feel safe and protected.

●     Credit cards are convenient. Whether you’re brick and mortar or online, credit cards are just easy. Many people store their credit card information (or know it by heart) so it’salready on their computer for those online sales. And how else are you going to accept virtual payments?

●     Credit card spending also leads to a little more impulse buying, which as a business owner, you like.It’s easy to pay with a credit card wherever you are, and all of this will simply and clearly boost your sales.

●     People also tend to spend more with credit cards than when paying with cash, and not just on impulse buys. One reason is that credit cardholders tend to be more affluent than those without credit cards, so they tend to spend more in general. When you accept credit cards with a credit card terminal, you’re hitting this market. This holds true for in-person purchases as well as virtual ones.

 

3.  Accepting credit cards protectsyou

Just like credit cards protect the customer, they protect you as the business owner as well. Even though checks aren’t very common anymore, check payment is just riskier. Have you ever waited for a check to clear? Those 10 - 14 days can take a while, and then what if it doesn't clear? You could be out a lot of money,and that is one reason why many small businesses no longer take checks. Just like your customer, you’ll have recourse if something goes fishy with a credit card payment. The Balance Small Business tells us that, You will not have to risk a huge chunk of your money on bad checks or wasting time having to track down the customer to properly pay for the goods or services. You’ve got to think of yourself, too, and a credit card terminal can lead to your own safety whenit comes to payments.

 

4.  Credit card terminals aren’t as costly as you may think

One reason many businesses, especially smaller ones, don’t accept credit cards is that it used to be pretty expensive to have credit card terminals. However,these days, it’s quite affordable and can come with perks and support. And once you incorporate a strong POS system, like what Mondo Payments can provide you with, you’ll be allset. Look for service packages that will fit your business’s budget and find a plan that works best for you. There’s a pretty wide choice of credit card terminals so make sure to find the best opton. And if you think about it, the money you’ll get from sales from credit cards will way compensate for the money you spend accepting those credit cards.

 

5.  Accepting credit cards evens the playing field.

Look around. Are your competitors accepting credit cards? Do they have state of theart credit card terminals? If so, a potential customer may head to them instead of you. It’s just like having a website...if a customer is deciding between you and a competitor and they’re doing their due diligence by researching, they may choose the one that has the great website. The same goes for credit card acceptance. If a competitor is accepting credit cards and you still aren’t,well, you may lose out. You’ve got to keep up and do what you can to stay relevant and easy to work with. Stay competitive and invest in credit card terminals and credit card acceptance.

 

6.  You’ve got options for credit card terminals

If you’re looking for in-store payments, virtual terminals, or online payments, you can have just what fits. When you take a look around, you’ll see that it’s not just the stores and restaurants taking credit cards. It’s taxi drivers, in-home bakers, Esty sellers, and on-the-go entrepreneurs. Theye’ve all got some sort of credit card terminal. With so many options,there’s something for everyone. There’s really no reason not to accept credit cards with all the multiple payment and POS options.

 

7.  Everyone should be able to participate in the economy

That includes you as a business and your customers. For you, as mentioned, it puts you on an even playing field with your competition. Working with companies like Mondo Payments allows you as a business owner to compete and participate in the ever-changing economy. You can also find support here for your business which will help you out as well. When you work with a strong team you’ll have personalized support that can grow withyou. No one is out there helping you collect your cash and checks, but withcredit card terminals and payment services, you’ll have support.

 

Mondo Payments offers the best of all of these components. We deliver upfront value to help your business be the best itcan be. We also know the economy is constantly changing, and we’re up for the challenge and will support our customers throughout changes. Our leading-edge payment options and solutions will make your presence stronger and your business thrive. You can trust us because you’ll see that we care. If you have any questions regarding payment options and credit card terminals, or would simply like to know more about our services, please reach out. We’re here to help and want to see everyone have the chance to succeed. Credit card payment options are a great way to get on that road to success.