Accept Credit Cards Or Lose Business

Since the advent of the Internet, the dynamics ofonline. What makes virtual plastic such a powerful
business have changed. Today's companies put forthmethod of doing business?
as much effort to create websites that facilitateEverybody's Doing It
business as they do to run the company itself. If yourCredit cards are an almost universally accepted form
business isn't online, you are at a disadvantage.of payment. No matter where you are in the world,
Having a website enables you to reach a wideryou can get by with a credit card. This is one of the
audience and far more potential customers. You mayreasons they're so popular online: they're everywhere
be familiar with the "rules" for a business website:(just ask Visa). Even those who don't qualify for a
-Be professionalcredit card can get a checking account debit card that
-Be accessibleworks the same way.
-Look goodLike any other phenomenon, the more people jump on
-Include sharp, error-free copythe credit card bandwagon, the more interest it
-Don't cluttergenerates for everyone else.
-Don't spamBuyers have them
-Offer reasons for repeat visitsThe majority of people who make online purchases
-Publish a newsletter or bloghave credit cards, and they aren't afraid to use them.
However, there is another unspoken caveat that'sAccording to AC Nielsen, as of October 2005, a
becoming more essential than ever: If you sell online,whopping 59 percent of online purchases were made
you must accept credit cards.with credit cards, while an additional 23 percent were
Many of today's Internet consumers are used to themade through bank transfers. In total, 82 percent of
ease and convenience of paying with credit cardsonline buyers used an electronic payment system to
online. For these 'net-savvy buyers, the inability to paymake their purchases.
with a credit card is a deal-breaker. They don't wantMerchants accept them
to bother writing out a check or a money order andMost online merchants now accept credit cards,
mailing it to destinations unknown, then waiting six tothrough one of various methods available to them. In
eight weeks for their purchase. Instant is in, and thefact, it is becoming increasingly rare to find a website
more purchase options you can offer, the morethat sells products or services and does not offer a
buyers you will get.credit card option.
When e-commerce first took off, there were severalWhat does this mean to you? If you don't accept
security concerns among consumers and businessescredit cards, many buyers will be reluctant to make a
alike. Scams and cyber-crime made buyers wary ofpurchase from you. They'll look for another merchant
entrusting their credit cards and bank account numberswith similar products or services who does accept
to websites. Now, more people are buying online thancredit cards - your competition. You will lose business.
ever before, and improved security and encryptionFrom Canada to China
processes are keeping financial information safe.Another benefit to accepting credit cards is automatic
If your website does not accept credit cards, youcurrency conversion. If your website offers products
could be missing out on a huge amount of business.or services that can be purchased around the world,
What are you waiting for?you don't have to worry about how many rupees or
The benefits of accepting credit cards and otherYen are in a dollar. A good credit card system will
forms of electronic payment online are numerous,automatically convert the amount. This is an
while the disadvantages are few. Even small, localadvantage for your customers as well, as they won't
businesses can benefit by accepting credit cardshave to try and figure out how much it will cost them.