For all your online business building info! , 2020-08-08 16:31:13
Standing Still in E-business is Moving Backwards
When you manage an online business and want it to grow, the proposal of accepting credit cards is no longer purely a matter of choice, as contemporary consumer attitudes have tilted the scales in favor of credit card use.
Several recent studies that have been conducted indicate that online businesses that maintain merchant accounts are benefited in several ways. First, it will spawn more traffic to your site as well as repeat business. The capability to accept a customer’s credit card tends to boost your online sales, as customers which use their credit cards are predisposed to purchase additional products and are apt to engage in more impulse buying then those who do not use the cards.
Many online business owners think that if they not offer this form of payment that they still fair well in the market place. This is clearly a misconception and a dangerous strategy to follow.
The old business saying that should you be standing still you can be expected to fall behind is as good today as it was during the days of our fathers and grandfathers. Technology and business practices change so rapidly, that those businesses who choose to stand still, in what they consider a safe haven, will quickly find they are left behind as their competition moves ahead of them. That is exactly the case when you refuse to a accept credit card.
Today’s consumer is accustomed to shopping with a credit card and although fraud and identity theft may generate issues, they still prefer to use the ever popular “plastic” when purchasing online. They appreciate the ease of using the card online as well as the added buyer protection programs that many of the card company currently provide to their customers.
Another push in the direction of credit cards is that more of this generation has grown up without using cash. Be it a credit card or one of the debit cards which are used as a visa or master card the new generation does their everyday business merely by sliding the plastic in the machine. This is a cashless generation and as such they fully expect the venders to follow suit. They have clearly indicated what their desires are and if you, as a business, do not bend with them you will quickly lose that portion of your business.
Unlike a generation ago this new generation has become suspicious of any business which does not accept the consumer’s credit cards. Let’s face it, with the vast number of merchants that are doing business through the internet the competition gets greater and greater. If a consumer does not like how you do your business all they need do is click again and they can find 3 or 4 additional businesses online selling the same thing. It only takes a few seconds on the internet to take ones business elsewhere.
For you, as a business, the good news is the merchant card services have made it extremely easy for you to be able to accept a credit card. So when the subject of ecommerce payments is discussed don’t be left behind. Accepting credit cards will make you more money online!
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