In a world where people are leaving their wallets at home and just paying with their mobile phones, is it reasonable to expect your customers to always pay with cash? (Or, even less likely, cheques?) The bottom line is, if you don’t accept credit cards, you’re missing out on potential sales. And if customers have to hunt down the nearest ATM to complete a transaction, the hassle involved makes it likely that they won’t rush back to visit your business.
But if you’re worried that accepting credit cards will take a big chunk out of your sales or otherwise be a headache, don’t worry. Here are some reasons why you should accept credit cards:
Your sales will be higher. Customers spend 12 to 18 percent more when they pay with a credit card instead of cash, according to a recent study. It’s not hard to see why: you might have only a limited amount of cash in your wallet, which your credit limit far exceeds.
Your customers will feel good about shopping with you. When customers see the logos of the major credit cards you accept, they see your business as more trustworthy and legitimate. For better or worse, cash-only businesses are often regarded as sketchy.
It won’t cost you much. Credit card transactions won’t eat up your profits. In fact, payments taken with Square Reader (2nd generation) cost 2.65% per tap.
Accept EMV chip cards everywhere.
Order the Square Reader (2nd generation)
Now that you know all the reasons why you should accept credit cards and you’re ready to get started, let’s go over what you’ll need. If you’ve never accepted credit cards, you’ll need an EMV chip card–enabled reader. So, protect yourself and your customers with a secure EMV reader like the Square Reader (2nd generation), which accepts mobile payments and credit cards as well as INTERAC Flash® and is just $69.
Here’s a step-by-step guide for how to start accepting credit card payments:
Order the Square Reader (2nd generation) and tell us where to mail it
Create your free Square account
Download the free Square app and link your bank account for fast deposits.
Connect the reader with your smartphone or tablet and start taking payments.
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