According to researchers, more than 80% of consumers list credit or debit cards as their preferred payment method. To keep them as customers, it’s essential that your business accepts card payments.
Consumers spend more when using credit cards anyway – enough to offset the processing fees – and they also want convenience and a fast checkout.
“About 32% of affluent millennials think we’re headed for a cashless society, with currency-free transactions…A swipe or a tap should be all you need.” – Linkedin resident Millennial, Alex Rynne
Not accepting credit card payments yet? – It’s time for you to start
Now that you know that this is the right time to start accepting credit card payments from your buyers, you have to figure out how it works. There are a number of key features and technical specs which you have to keep in mind when choosing and implementing a card payment system.
The first step you need to make is to decide where and how you will be accepting card payments. Do you have a local store, or do you sell online as well? Then you’ll have to do some research to decide whether you will use a third party solution or a bank provided merchant solution.
While doing the research you’ll obviously have to take into account the costs, security options, and ease of use for you and your customers.
What about online and mobile payments?
If you’re going to be accepting online payments through your website, you’ll have to select a payment gateway such as BluePay. You will also have to integrate a shopping cart software into your site, such as WooCommerce.
For mobile payments, you will need a payment processing software or app, or a virtual terminal which will enable mobile checkout within your mobile app store.
What about in-store payments?
For in-store credit card payments, you will need certain hardware devices. This will include a POS, a card swiper, printer, etc. You will also need integrable software, so look for a robust compact solution from a provider who offers the whole system and additional extras such as inventory management and accounting features.
In order for your small business to succeed, it’s crucial to realize that today’s customers aren’t buying the idea that “Cash is King.” And if they were, they likely would be buying it with plastic. Get your free PDF checklist from BluePay today.