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.
Every single transaction can make a difference to a small business, and missing out on credit card transactions can have a big impact on your total sales. According to the Square Future of Commerce report, 61% of surveyed retailers offered traditional credit card payments and 47% offered touchless card payment options in 2022. Here are some reasons why you should accept credit card payments at your small business:
-
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.
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.
Related Articles
What Is Android Pay Banks And Phones That Accept It
How To Accept Contactless Payments