As a small business owner, you are always on the lookout for new ways to increase your bottom line and reduce your overall expenses. Unfortunately, for many new companies, that means that they forgo systems like credit card readers due to the added costs per transaction.
However, this is a mistake, and you should instead be looking at the best credit card machines for businesses. Here are five reasons why:
#1 Improve Customer Experience
Because your clientele is the lifeblood of your company, it’s imperative that you treat everyone that buys from your store with respect and convenience. Since most people don’t carry cash or checks anymore, having a portable credit card reader means that you can cater to your customers and meet their needs.
#2 Increase Your Sales
As you make it more convenient to buy things from your store, you will invariably make more money in the long run as customers do not have to make sure that they have enough cash. This is most common with impulse purchases.
#3 Expand Your Market
Being able to take credit cards means that now you can take orders over the phone or sell online, thus expanding your reach and enabling customers to buy your goods in more ways. If you want to build your company and make it thrive, credit cards are the way to go.
#4 Adapt to New Trends
As physical currency is becoming less common, people are starting to use all kinds of payment methods, from enhanced credit cards to phone apps that store financial information. If you don’t want to be left behind, you need to add credit payments to your business.
#5 Better Security
One of the problems with being a cash only business is that you can become a target for thieves or criminals. If you process credit cards through a secure terminal, then you aren’t holding as much money on hand that can be stolen. This also helps prevent stealing from employees, too.
Many merchants or account providers offer free credit card machines to new customers, meaning that your investment probably won’t be as involved as you think. Overall, the benefits greatly outweigh the expense.