Ways to Not Leave $100 Billion on the Table — POS Devices for Tablets & Smartphones
Embracing the Future of Payments
We were struck by a CNBC article appearing this week, with the provocative headline, “Cash-only Business Owners Risk $100 Billion Mistake.” The article notes that “As American consumers begin to embrace tap-and-pay smartphone apps, relegating plastic to a deep recess in the pocketbook or wallet, more than half of U.S. small business owners continue to live in the past—forget mobile apps, they don’t take American Express, or anything other than cash.” for POS solutions.
The Cost of Cash-Only
Many small businesses actively seek to save the bank fees they would typically incur, especially when they operate with narrow profit margins. Transitioning to the findings of a Javelin Strategy & Research report, it reveals that in 2011, cash transactions accounted for 27 percent of in-person purchases at point-of-sale locations. Meanwhile, payments via plastic cards—both debit and credit—made up 66 percent, a figure anticipated to increase.
Missing Out on Massive Sales
And yet, surprisingly, “Fifty-five percent of the nation’s 27 million small businesses don’t accept credit cards, according to Intuit, the Silicon Valley software firm that develops financial and tax prep solutions for small companies. By not accepting cards, those 15 million businesses are missing out on $100 billion in sales annually—roughly $7,000 per company a year in either new sales or sales that go to competitors that do accept cards, said Intuit.”
AVP Solutions: Your Partner in Payment Processing
Now, given that you’re already reading this at AVPSolutions.com, you already know all that. But you may not realize that AVPS is making it easier than ever for you, and your business, to accept cards.
POS Solutions at Your Fingertips
For example, among our mobile processing options, we now offer POS devices for your tablets and smartphones. You simply plug in the device, download the Apple or Android APP, and you’re ready to go!
Benefits of Swiping with AVPS
And if you’re one of those merchants who worries about the tight margins, remember that swiping credit cards through a mag card reader qualifies for lower processing rates! You’ll not only have more flexibility, which your customers will have as well, but you’ll be saving “on the spot” with AVPS.
Take Action and Capture Your Market Share
Contact your rep today for more details. No sense letting your share of that $100 Billion get “swiped” — from you!