From increasing cash flow to improving customer experience, there are countless benefits to your business and customers when you accept credit cards. Below, we explore how accepting credit cards helps your business grow.
Accepting Credit Cards for Small Businesses
There are many ways for your small or growing business to accept credit cards, including on a point-of-sale terminal, online, or on mobile devices to allow faster, more convenient payments. These tools let you take payments anywhere, which helps your business grow in three main ways:
Data tracking. Customer purchases tell you a lot about them, including their shopping habits and interests. Accepting credit cards is an easy way to track this data, which you can then use to segment your audience and market more directly, increase the production of specific best-selling items, and more.
Customer management. In addition to offering data tracking and enhanced payment security, Horizon’s Online Account Management Tool lets you manage your customers, employees, and business locations in one app. Of course, customer management looks different for every business, but with these tools, it’s easier for you and your team.
Competition. Today, fewer people carry cash, and more businesses accept credit cards. Statistics show that 83% of Americans have at least one credit card, and many prefer to shop at companies only if they take those payments. If your
business isn’t accepting credit cards, you could lose customers and thousands of dollars in sales to the competition.
Is Now the Time to Accept Credit Cards?
Yes! Whether your business is new, growing, or a community staple, now is the time to start accepting credit cards. Horizon Bank’s advisors can help with solutions for your business needs. Call us today at 888-873-2640.