As a business in the 21st century you should consider giving your customers the opportunity to pay using their credit or debit card. By accepting payments, via PDQ machines (also called chip and pin), you will be able to add flexibility to the overall function of your business. Customers everywhere are increasingly looking to virtual payments as a great alternative to cash payments. With the absence of a chip and pin terminal, you are probably on the verge of giving your customers away to your competitors.
Below are 5 key reasons to accept card payments.
# Convenience to customers
In today’s digital age, consumers prefer to carry less cash. By accepting card payments, you will be improving the shopping experience for your buyers. You will not be losing a sale just because your customer is carrying not enough money, especially during the times when you are offering discounts or special offers. With the option of paying by card, customers will not hold back on their impulse purchases and this means more business for you.
# Enhanced security at the place of business
If you are accepting cash only, all of your money will be kept on-site until you get the time to visit the bank. You will have to consider the security implications of having so much cash lying around on the premises. Payments, via credit or debit card will safely go into your merchant bank account and you do not have to bother about its security. Additionally, the chip and pin terminals available today feature advanced technology so that you get the peace of mind of knowing your money’s safe.
# Instant transaction and hassle-free bookkeeping
If your business mainly bills in invoices, it is not uncommon for you to experience situations where you have been left waiting for a payment. This may take a lot of time to resolve and might also end up leaving your business without any funds. By integrating chip and pin solutions, you will be able to solve this issue since these systems allow for instant transactions. Even keeping record of the payments that you have received becomes a lot easier with card payments made through a PDQ or chip and pin terminal. You will be able to keep a track of exactly what payments have been made and when.
# Increased business efficiency
Time is extremely precious to everyone, irrespective of what kind of business you are running. Small business owners especially look for avenues and solutions where they can save time to focus on the core competencies of their business. By installing a card machine, business owners will be able to put more emphasis on the growth and development of their business rather than wasting energy on handling payment issues. Human errors are also eliminated by electronic payment machines and cashing-up at the end of the day becomes a pleasant experience.
# Opportunity for business growth
As mentioned above, the availability of an electronic payment option is capable of luring impulse buyers. This is because the absence of inadequate funds in cash will not be hindering them from completing their purchase. You will be empowering your customers with choice, which is a fundamental factor in heightening a shopping experience. This will not only lead to customer satisfaction, but also better customer retention giving you a chance to grow your business.
Accepting cash is always great, but the ability to take card payments means that you can up sell your goods or services to your customers and provide them with an enjoyable shopping experience. To find the best chip and pin terminal provider for your business, get in touch with a professional independent merchant consultant.
Independent Merchant Services is a renowned provider of information and reviews regarding chip and pin terminals. They help businesses of all types embrace online payment methods in the most affordable way possible. They bring unbiased recommendations of companies offering chip and pin machines.