If you are like a lot of small business owners, you might not have yet invested in a card reader so that you can accept credit or debit cards. It might not seem like a big deal not to have one, but the truth is that investing in a card reader can be a wonderful business move. These are a few reasons why.
1. Provide Convenience for Your Customers
First and foremost, one of the top benefits of accepting credit and debit cards at your place of business is the fact that it can be much more convenient for your customers. More and more people are choosing to use credit and debit cards nowadays for cash for all sorts of reasons; some feel safer and more secure when using a card rather than carrying all of their money in cash, some find that it’s easier for them to track their spending when they use a card and some have other reasons. Regardless, you probably want to make things as convenient as possible for your customers, and accepting credit and debit cards is a good way to do so.
2. Avoid a Loss of Business
Not only do some customers prefer to pay with a card, but some do not carry cash at all. If you only accept cash, it’s true that some customers will simply find an ATM to take out the money to use at your place of business. However, others might simply patronize another business that does accept cash. You don’t want to lose business just because you won’t accept customer credit and debit cards.
3. Enjoy a Reduced Risk of Theft
Another great thing about accepting cards is the fact that it can help reduce the risk of theft. Basically, businesses that accept cash only can be a target for thieves who are looking for a quick hit. Plus, if your business does happen to get robbed, you won’t have to worry about losing everything if you accept credit and debit cards. It can be a tough thing to think about, but robberies do happen, and it’s important to do what you can to protect your business.
4. Make Bookkeeping Easy
Lastly, one really great thing about accepting credit and debit cards is the fact that it can make bookkeeping a whole lot easier. You don’t have to worry about counting down as much cash at the end of the day, and you can quickly pull your credit card machine records if you need information about profits.
As you can probably see, if you have not yet invested in a card reader for your place of business, now is the time to do so. Then, you and your business can enjoy these four benefits and more.