Credit Cards Should Be Used In The Proper Manner
Nowadays, there is a greater usage of credit cards by consumers and so there are great credit card offers. These cards with the different credit card offers are used to pay almost everything right from daily breakfast and coffee bills to big items like buying television and other electronic goods. No doubt it is imperative to accept credit cards to accommodate more potential customers.
Benefits Of Using The Credit Cards:
There are certain advantages in using credit cards by the customers.
* One is not required to search their wallet for cash or else bring out the checkbook and write on it the amount to be paid. Instead the customer can use their credit card to the seller and after signing on the slip, fulfill the transaction.
* Another benefit of accepting credit cards is that customers are seen to spend more when they use the credit cards. This is due to the flexibility of using the card. A customer gets the freedom to draw more from their credit balance or checking amount. This results in an increase in sales to the business. This is however the result of the different credit card offers.
Problems With The Credit Cards:
However, there are certain reasons for business houses not accepting credit cards.
* One of the reasons is that business fears that if the owner of the credit card reports of loss of the card, or disputes for some charges made in the bill or else reports of stolen, the business will have to recourse to get the amount till the dispute settles.
* At times the credit card offers are not checked properly which results in tremendous loss.
* Another reason is that to start accepting credit card, the business has to buy credit card terminal that could cost the business hundred of dollars.
* The last reason is that the business has toe pay a certain percentage of their sales proceeds or fee for every of the transaction to the credit card provider. This definitely lessens the amount of profit by the money paid.
However these points should not be enough to deter the customers who like to pay through credit cards. It must be noted that all the credit card companies takes the responsibility to report the merchants as soon as a card is lost or stolen. They should also take steps to explain the credit card offers to their customers.
This way any fake transactions stopped. One can also reduce charge backs by asking for the photo ID or looking for the sign on the back of the credit card. If any business is ready accepting credit cards, they need to open a merchant account that will help them to work with the credit cards with the bank or the card provider.
Benefits Of Using The Credit Cards:
There are certain advantages in using credit cards by the customers.
* One is not required to search their wallet for cash or else bring out the checkbook and write on it the amount to be paid. Instead the customer can use their credit card to the seller and after signing on the slip, fulfill the transaction.
* Another benefit of accepting credit cards is that customers are seen to spend more when they use the credit cards. This is due to the flexibility of using the card. A customer gets the freedom to draw more from their credit balance or checking amount. This results in an increase in sales to the business. This is however the result of the different credit card offers.
Problems With The Credit Cards:
However, there are certain reasons for business houses not accepting credit cards.
* One of the reasons is that business fears that if the owner of the credit card reports of loss of the card, or disputes for some charges made in the bill or else reports of stolen, the business will have to recourse to get the amount till the dispute settles.
* At times the credit card offers are not checked properly which results in tremendous loss.
* Another reason is that to start accepting credit card, the business has to buy credit card terminal that could cost the business hundred of dollars.
* The last reason is that the business has toe pay a certain percentage of their sales proceeds or fee for every of the transaction to the credit card provider. This definitely lessens the amount of profit by the money paid.
However these points should not be enough to deter the customers who like to pay through credit cards. It must be noted that all the credit card companies takes the responsibility to report the merchants as soon as a card is lost or stolen. They should also take steps to explain the credit card offers to their customers.
This way any fake transactions stopped. One can also reduce charge backs by asking for the photo ID or looking for the sign on the back of the credit card. If any business is ready accepting credit cards, they need to open a merchant account that will help them to work with the credit cards with the bank or the card provider.