It can be argued that there has never been a more important time than now to accept debit cards in your store. With the holiday shopping season now underway, it’s vital that you give shoppers payment options. Not doing so can lead to a significant loss in possible sales. Accepting debit cards, of course, will do just the opposite. It greatly helps you to grow your store’s sales numbers!
Debit card acceptance gives customers freedom of choice.
When is the last time you went to a restaurant and had a server tell you what to order? We’re guessing it’s never happened. A restaurant menu provides you with options. While a server will likely offer you some suggestions, the choice about what to eat is always yours. The choice about how to pay should also be yours. By today’s standards, insisting that a customer pay with cash is archaic.
By accepting debit cards, your business gives customers more choices for how they wish to pay for items. By increasing the likelihood that customers can pay for purchases using their preferred methods, you ensure that your business is not going to miss out on any potential sales.
Accepting debit cards helps shoppers avoid trips to the ATM.
The ATM is the middle man. You know what is often said about middle men, right? It’s time to cut them out! While debit cards allow cardholders to withdraw cash from their bank accounts, why should they have to? A debit card allows a consumer to make a direct purchase from a store without cash. By not accepting it, you force your customers to have to go the ATM. How many people do you think would be willing to do so and come back to your shop?
“People want convenience,” SquareUp.com asserts, “And if shopping at your store means a trip to the ATM, they may skip you over and opt for the competition…If you’re a cash-only business, you can see a significant increase in revenue by starting to accept cards. Why? Research shows that 16 percent of consumers do not carry cash, and 85 percent are not likely to withdraw cash to make a purchase.”
Debit card acceptance will attract a younger audience.
As soon as young people are given access to bank accounts, they can begin using debit cards to make purchases. Generally speaking, children, adolescents and even teenagers aren’t credit card users. That means your acceptance of debit cards will allow your business to avoid alienating younger consumers.
Remember that not everyone has a credit card. Some people may not be eligible for a credit card because they are under 18, they lack the credit needed to get a card, or they are simply more comfortable with other forms of payment. By accepting debit cards, your business makes it easier for those without credit cards to access the goods and services they are interested in.
At Divvia, we proudly offer many great payment terminals that allow Canadian merchants to accept both credit cards and debit cards. To learn all about them, please don’t hesitate to call us at 1-877-748-2884 or send us a message on our Contact Us page!