Photo Credit: IDT
Let’s face it, customers prefer to pay with credit cards.
Currently, while most people prefer credit cards over cash for significant transactions, there are still small to medium-sized businesses that accept just cash. These companies fear that high credit card processing costs, monthly fees, hidden surcharges, and penalties would severely influence their expenses and earnings. For a company, credit card processing may not be as expensive as it seems.
The pandemic has pushed up the number of credit card transactions dramatically. Contactless payment has become common across a wide range of transactions, from internet shopping to purchases at grocery stores. This is, of course, due to the pandemic, which caused many customers to stay at home.
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According to a study performed by Travis Credit Union, in August 2020, an increasing number of Americans are becoming digital. Fifty percent stated they utilized cash and much less during the epidemic than before the COVID-19 incident. Furthermore, 58 percent stated they wanted to completely abandon cash after the pandemic.
Store owners benefit from offering credit card payment acceptance.
For company owners, providing service to customers who use credit cards offers advantages. According to thebalancesmb.com, there are many benefits of accepting credit cards for business owners, including legitimizing the company, increasing sales, and eliminating bad checks. The growth of a company may be a win-win situation for many business owners. If a shop takes credit cards, customers are more likely to purchase products. which will create more revenue for a business owner.
Consumers may be upset and frustrated if a shop only accepts cash as a form of payment. A decline in purchases might be a possibility. Some customers may even avoid the shop because it doesn’t take credit cards. With credit cards, you may collect miles, cash back, or other perks for every purchase you make. Higher sales that may be major revenue drivers are lost in a cash-only business.
Shoppers prefer credit cards over cash for a variety of reasons. People fear standing in long lines that seem to go on forever. Customers searching their pockets or handbags for spare change may cause longer lines. Cash-only payment will surely be inconvenient for customers.
NRS Pay makes it easy to accept credit cards without hurting your budget.
Having cost-effective solutions to take credit cards is a major problem for small companies. NRS Pay, a payment acceptance service supplied by National Retail Solutions (NRS), a leading national supplier of Point of Sale (POS) systems, allows small-to-medium-sized convenience businesses to start taking credit cards without worrying about the cost.
Elie Y. Katz, president and CEO of NRS says, “Small and medium-sized independent businesses have long relied on NRS’ expertise in the independent retail industry. Our company is uniquely aware of their needs, and committed to ensuring that they have tools to help them succeed. NRS Pay’s unique processing plan called FeeBU$TER, simplifies the shift from cash to credit card use and keeps processing affordable for store owners.”
With NRS Pay FeeBU$TER, there is a $0 monthly charge with $0 out-of-pocket transaction fees for retailers who process more than $18,000 in credit cards each month! In this instance, there is no charge for the service at all! If a business processes under $18K/month, there’s …….
Source: https://www.newsindiatimes.com/credit-card-processing-can-be-free-for-your-busy-store-yes-free-2/