For small and expanding businesses, broadening your payment methods is vital for fostering growth. Merchant accounts play a key role in this by facilitating payments through checks, debit, and credit, making it simpler for customers to make purchases. Studies indicate that while the typical cash transaction is around nine dollars, credit card transactions average forty dollars. This suggests that merely by accepting credit card payments, you can notably boost your revenue. Here are four compelling reasons for businesses currently lacking a credit card merchant account to consider setting one up immediately.
Competitive Fees Compared to Traditional Merchant Accounts
Conventional merchant account fees, like transaction and monthly fees, can reduce your profits. Big companies can handle these costs because they sell a lot. But, these fees can hurt small businesses more because they sell less and end up paying a bigger share of their sales in fees.
AVPS provides Small Business Merchant Accounts designed to support profitability for small businesses by eliminating or reducing certain fees.
Enhance Sales with Online Credit Payment Acceptance
Data reveals that offering online credit payment options can lead to a sales increase of over seventy percent. The surge in online credit payments is driven by several key factors. Firstly, it is a highly preferred payment method. Additionally, it has the capability to reach a global customer base. Furthermore, it encourages customers to spend more freely compared to using debit. For small businesses, this represents a prime opportunity to escalate sales without the need for costly advertising efforts.
Increased Security Over Cash or Check Payments
The practices of storing cash in on-site safes and making substantial bank deposits pose increased robbery risks. Additionally, customers carrying significant cash amounts may attract muggers.
Checks introduce a different security challenge by facilitating fraudulent purchases from a business standpoint and risking loss or theft for consumers. Processing credit card payments for small businesses mitigates these risks by enabling secure, cashless transactions for both customers and businesses.
Capability for Wireless Payment Acceptance
Small businesses often engage in sales at trade shows, public events, and other off-site locations to boost interest. Limiting payments to cash and checks in these settings can restrict sales opportunities. Utilizing a wireless card terminal to accept credit payments—a mobile version of the standard card terminal—provides a flexible solution for businesses that take payments for services or deliveries at various locations.
AVPS: Experts in Small Business Merchant Accounts
AVPS has 25 years of experience helping businesses and offers special accounts for small businesses. They provide the best payment plans suited to your needs. If you haven’t started making money through credit card payments yet, AVPS can help you find ways to make it profitable.
Reach out to AVPS today to unlock the revenue potential of credit card payments for your business.
