Calculating How Much More You Will Make by Accepting Credit Cards

Companies that have credit card processing capabilities have an opportunity to make more than companies that do not have credit card processing capabilities. However, how do you figure out exactly how much more your business stands to make?

How Many People In the Area Use Credit Cards?

The first thing that your company needs to do is figure out how many people would use credit cards if they could. One way to figure this out is to find out the percentage of customers at local businesses use credit cards. The second way to figure this out is to ask your customers if they would use credit cards if offered the opportunity.

How Much Business Does the Company Do Online?

When customers shop online, they are likely to use their credit cards to pay for their purchases. Therefore, you need to find out how many customers would shop online instead of visiting your store. Then, you need to figure out how many customers would use a credit card as opposed to a PayPal account or with an eCheck.

Which Credit Cards Will Be Accepted?

It is critical that your business accepts credit cards that are widely used. A company that doesn’t accept credit cards that customers want to use will find that there may not be much of an added benefit to accepting credit cards. You should also consider whether or not a store branded credit card will be offered to customers. This could entice your customers to use a credit card when they otherwise might not.

How Much Do Merchant Accounts Cost?

The last piece of information you need is how much merchant accounts cost. Merchant account providers generally charge a signup fee and may charge other fees as well. On top of any administrative fees that you may face, your business will have to pay a processing fee each time a credit card is used to make a payment.

There is a lot of research that needs to be done before you can determine with any certainty how much money your company can bring in by offering credit cards. It is important to know how many people use credit cards now, would like to use credit cards in the future and which cards people are most likely to use. Otherwise, you could be offering customers a service that they don’t want or need.

Leave a Reply

GET FREE QUOTE TODAY AND START SAVING


Testimonials

It took me a while to decide who I wanted to settle with to handle all of my credit card transactions because every company wants to make it sound like they're offering you the best rates. CreditCardProcessing.com was able compare and beat all of the other offers I received. They were also able to provide me the fairest price on my EMV-compliant terminal. My sales representative and the support team were there to assist every step of the way. Ultimately, I'm looking forward to a long term relationship with this company.

Roland Tran from the Hong Kong Kitchen

It is a pleasure dealing with these folks. Their pricing is fair, their statements are understandable and their employees are knowledgeable and friendly.

John MacMillian from the Great Lakes Baking Company

The service was very professional, my sales person (Steven B.) was very well versed in the product and most helpful in getting our company set up to accept credit cards via my cell phone. Their rates are some of the lowest on the market and their service is unparalleled. I will recommend them to anyone requiring a credit card processing service.

Michael Harper from Deluxe Auto Body

Jonathan C. is wonderful to work with. He is very helpful, accommodating and resolves any issue quickly. It is hard these days to find someone who gives great customer service, but I can say, Jonathan is the best! I would not hesitate to recommend him to any business owner and to assist you in helping to grow your business.

Linda Garner from Regali Da Forno

I called indecisive about getting a device, but speaking to your Sales Consultant completely settled me. He was very professional, knowledgeable and patiently walked me through the process. He always responded to my voicemails and answered all my questions. After I received my merchandise, he called following up to ensure that I had received it. Customer service I would say is 5 stars. Stellar! Thanks Credit Card Processing, I will definitely recommend you.

Sarah Morgan from Vision International Ministries
Call Us Today! (866) 837-0751

© 2016 CreditCardProcessing.com. All rights reserved. Privacy Policy
CREDITCARDPROCESSING.COM, LLC is a registered ISO of Wells Fargo Bank, N.A. Walnut Creek, CA

*Further terms and conditions may apply. Promotion contingent upon CreditCardProcessing.com's receipt of written competing offer(s).

**Certain restrictions may apply.

Promotional offers brought to you by CreditCardProcessing.com.

Call (866) 837-0751 for details.