> Accept Credit Cards

In the current digital era, any business that offers a paid service should be offering a range of payment options for their customers,  including  credit and debit cards. It’s estimated that
    More Information     About Federated     Call Me Now

Electronic Payment

In Fredericton, any business that offers a paid service should be offering a range of payment options for their customers, including credit and debit cards.

 

It’s estimated that more than half of all spending is now made on plastic, partly due to the rise in online shopping, and partly because the younger generations are simply more familiar with digital methods than traditional solutions. Limiting payment options alienates entire demographics, so in terms of brand growth and increased sales, flexibility is the key.

 

 

The Advantages of Accepting Card Payments:

Expanding payment methods for customers plays to current interests – the interest in digital. Digital has taken over the world, and, quite simply, customers prefer this quick and simple payment method, which removes the need for them to really be a part of the buying process. It’s estimated that for every $2.50 spent, $2.00 is spent on a credit or debit card.
Along with appealing to demographics who had, perhaps, not been targeted before, accepting credit and debit card payments can actually save business money in the long term. Some businesses may be deterred by the initial costs of installing the necessary technology, preferring to stick to the ‘free’ cash method, but, contrary to popular belief, it’s actually far more cost-effective for businesses to process credit card payments than cash payments. Cash payments can cost businesses up to 0.2 percent of the purchase cost to process, while the average cost for processing card payments is just 0.02 percent.

 

 

How Does it Work?

A credit card terminal can help your business to grow.It is very simple, and it actually helps to protect the business. Payments made through a legitimate terminal transmit confidential customer information directly to their bank, who confirm that the customer has the funds available, and releases the amount to the business. The business itself isn’t a part of the processing. It essentially cuts out the middle man, which reduces the risk of fraud and helps maintain a solid reputation.
However, it’s important to use terminals only from reputable companies. Some businesses have found that accepting credit card payments to not be a cost-effective endeavor due to the high fees charged by some operators. It’s well worth doing some research first. At Fredericton Solutions, we offer completely transparent fees, which are highly competitive within New Brunswick and Canada.