Why Accept Credit Cards?

[Freedomworker]

I agree with all of the above posts! Also think abuot your demographics and think if maybe they use cash or credit. The younger the person, the more likey they are to not carry cash. Aslo think about all the times you walk into anystore to buy one thing and walk out with more items. If this was the case and the person only had 20 bucks you could accomodate their impluse purchases.

[St0n3y]

I actually get pretty irate when I'm in a store that doesn't take CC. I'll just drop my things and never buy from that store again. No CC, no sale. Period.

[webworm98]

I would still shop at stores that accept only cash. If I like what I saw.

Merchant in the US claim they pay a higher transaction fee for signature transactions. They are charged a percentage plus a transaction fee. MasterCard US said they will publish what merchant pays. This does not include discounts.

[WandaCox]

Why does BurgerKing accept debit and credit cards? Most folks would have the cash on hand to buy a happy meal.

They accept credit cards, as a convenience and service to those who
patronize their establishment.

Debit cards are the #1 form of payment today, in the usa, surpassing credit cards.

Debit cards are the lowest rate for a merchant.

You can of course establish "debit" only processing at your establishment.

Goodluck.

[JWDesignCenter]

I never carry cash anymore... debit/credit card is all I use these days. You may not be getting new customers now because you don't accept that form of payment. I think though that it also depends on where you are. Here in Seattle plastic is the payment method of choice.

What makes people buy additional stuff? Combination of things... sales or special deals (ie 2 for 1 or buy 1 get 2nd 1/2 off) is definitely one. Another thing to remember... when I go into a store (whether I have a list or not) I almost ALWAYS find something I hadn't planned on buying that I'd like to try or that I forgot, or maybe its just something that sounds good at the spur of the moment.

[BusinessService]

Yes, you should accept credit cards!!!
Even liquor stores offer customer service and giving your customers more choices to on how to pay you, the way they want to pay you is a form of customer service.
Congratulations on your business. Hope this helps!

[tobuso]

Originally Posted by Cashflowfmp

I am a business owner, liquor shop, trying to decide if I should accept credit cards in my store.

Most people tell me yeah, and they say something like:

"If I am carrying $20 cash and you don't accept credit cards then that is the most I can spend (TRUE, I GET THAT). If you accept credit cards then I can buy a bottle of wine as well as the twelve pack and might as well throw in a corkscrew as well."

My question is, you only came in with $20 to buy what you wanted, why NOW all of a sudden that you can use your credit card, WHY would you want to buy a bottle of wine, a twelve pack, and a corkscrew....why, when you didn't want to before?

See my question, why do customers ALL OF A SUDDEN, spend more using a credit card.....when they were not going to do it with cash?

What I am saying, is WHAT MAKES A CUSTOMER, spend more using a credit card? What guarantees do I have that a customer would spend more using credit cards? They come in to buy something worth $10 with cash, now that they can use their credit cards...WHY WOULD THEY, add on $5 worth of extra items?

See my question?

Its just impulse purchases. This is where you up-sell the new "whatever single shot bottle you just got in." Impulse buys happen all the time. I have been in retail sales along time and if they came in to buy something with the exact amount of cash to cover the purchase I would have made 20% less every year. I was able to bump peoples ticket average up because they either used their card or it was in the financing anyway.

[Hampers]

Originally Posted by tobuso

Impulse buys happen all the time.

Whilst it is true that customers are as focused as ever on price point and value for money, it is even more important to make available all avenues of accepting payment.

To say no we don't take CC is like saying goodbye to a percentage of your sales, regardless of the impulse component.

I agree with many above, No CC, No Sale.

[tobuso]

Originally Posted by Hampers

Whilst it is true that customers are as focused as ever on price point and value for money, it is even more important to make available all avenues of accepting payment.

To say no we don't take CC is like saying goodbye to a percentage of your sales, regardless of the impulse component.

I agree with many above, No CC, No Sale.

Very true. There is a % of people that will do whatever it takes to buy what you offer. There is a % that will buy it if its easy to buy via many forms of payment. And, there is a % of people who will not even ask if you take cards. They will just look elsewhere until they see a sign that says "We Take Credit Cards."

[Martin123]

Originally Posted by aweston39

We have an online jewelry and gift business and do accept credit cards through paypal.

We also do local craft shows and holiday bazaars.
We have found that people go to these events with very little cash.
They see somthing they like at my table but have not seen the whole fair yet.
By the time they get back to me, they have spent all their money on food or other vendors.

Since we accept plastic, they still can buy from us and usually wound up buying more than they would with cash.
It may cost us money to process the cards but we definitely make more sales by accepting cards that we would if we didn't.

I hope this helps.
aweston39
Westons Jewelry & Gift Emporium
http://aweston39.ecrater.com

There is no problem in getting payment through credit cards because most of time people come with very little cash and if they see something they like at your table and if they want to purchase with their credit card. This will help you in increasing your income.