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