Making the decision to accept credit and debit cards for your small business, family-owned company, or startup ecommerce site is a simple, cost-effective way to continue to grow and expand.
The MBN Difference
At MBN, we have over 20 years of credit card processing service. We have the experience and expertise to find just the right service and package of equipment and ecommerce support to allow your company to processes payments in ways that are easier for your customers.
It always surprises us to find out that only about 55% of small businesses are able to accept credit and debit cards. We believe that this has a lot to do with small businesses not understanding that our credit card processing service is small business friendly.
Why Get Started?
If you still aren’t sure if you are ready to step up to accepting credit and debit cards at your business, consider these five very important facts.
* Your competition is accepting cards – if your competition allows customers to pay with cards and you are still on a cash or check payment option, you are losing business.
* Fast cash – before the ability to use technology to batch credit card transactions, often merchants waited a week or more before payments were made from the credit card companies. Today, with the instant transmission of transactions the batches (daily transactions) are settled very rapidly, and you will have the cash deposited to your business account within days for the vast majority of transactions.
* Increased consumer buying – people tend to spend more when they use credit or debit cards compared to if they actually have to handle cash to make payment. There have been numerous studies about this element of consumer behavior, which means credit and debit cards are better for your bottom line.
* Instant approval – with credit cards, or debit cards, the credit card processing service lets you know immediately if there is a problem with the card. In fact, the transaction will be declined. While this may not result in a sale, it protects you from making a sale that would have results in an NSF check or a default in payment.
* Less Loss – the other issue is that when employees are working with credit cards and debit cards and not cash, there are less employee theft concerns. In some businesses employee theft is a big factor, and credit cards simply help to prevent this problem.
There are many other reasons to choose to accept credit and debit cards as well. If you just think about how infrequently you use cash, you will get a good idea of just why it matters.
