Today’s customers want access to multiple payment methods in order to accommodate their busy lifestyles.
More methods means more customers.
Accepting credit and debit cards at your business is vital. Since most American consumers have a credit or debit card, accepting them as payment makes your services more accessible. You’ll reach a wider range of customers who likely prefer this form of payment. Consequently, you’ll generate more revenue. Simply put, multiple payment methods translate to better business!
Did you know that 54% of consumers prefer using their debit cards while paying for goods? That’s more than the majority! There are a wide variety of types and brands of debit card. Make sure your business is set up for success, by setting up a payment processing system that accepts most major debit cards!
Many credit card companies offer exciting rewards and advantages for their customers based on the amount of transactions made. Therefore, it’s in your best interest to accommodate for many different types of credit cards by implementing a credit card payment processing system.
One of the more recent trends in payment options is the rise of mobile and online payment platforms. Show customers that you’re up-to-date with the latest technology by including mobile and online payment options for your business!
What are the advantages of multiple payment methods?
It should make sense that a wider range of payment options can only boost the amount of clientele you can cater to. With multiple payment methods to offer, your business will be more enticing to potential new customers, while encouraging customer loyalty down the line.
Multiple payment methods can also encourage more transactions and a higher turnover rate. Furthermore, as shoppers uncover a variety of ways to make purchases, they may be attracted to this, and ultimately feel encouraged to spend more.
It’s also helpful to note that having an option of payment methods can serve to advertise your business even further. Merchants who can claim acceptance of multiple payment options often stand out in a sea of competitors as a business that offers variety and flexibility to their customers. In other words, your company’s brand will only improve in the face of being able to boast about multiple payment options.
Work with Bank of Merchant
Here at Bank of Merchant, we understand how to make a business marketable and enticing to potential customers. One of the ways we foster this brand image and growth is by encouraging multiple payment methods!
Start accepting multiple payment options today by using Bank of Merchant’s helpful services! Contact us today to get started.