3 benefits of investing in credit card processing services
September 25, 2013

Even the most experienced businesses that have been around for decades can benefit from updating their payment integration technology. Small and medium-sized companies are missing out on valuable revenue opportunities if they rely exclusively on cash payments from their customers. Traditional transaction methods are rapidly evolving as smartphone technology changes the way consumers expect to be able to pay for goods and services. Ignoring the importance of adapting to current trends in the larger commerce industry can have profound impacts on long-term business success.

Companies that not only accept credit card payments, but integrate a variety of transaction options into one easy-to-use system can benefit from a guaranteed competitive edge over similar organizations. Here is a closer look at three other ways in which brands can enhance their operations with robust electronic payment systems:

1. Greater customer satisfaction
Consumers often appreciate the ability to sift through a variety of options while shopping. In fact, many retail businesses even set up their in-store merchandise with that exact concept in mind. Browsing available items and making decisions based on convenience are what many people enjoy about shopping. Payment integration works in similar ways. For example, the U.S. Small Business Administration said companies that offer a variety of transaction options can impress their target customers with the flexibility of accepting whichever method of payment a shopper finds most convenient.

2. Increased revenue streams
According to Houston Chronicle, accepting credit card transactions through a variety of channels contributes to long-term business growth. Not only does this offer an improved customer experience, but integrated payment systems increase revenue by creating more ways for companies to accept money from shoppers. Stores that depend heavily on foot traffic to sell products often miss out on valuable transaction opportunities by limiting money-handling options. Shoppers may find something they'd like to purchase but may not have quite enough cash on hand. By investing in credit card processing services, however, these companies can ensure customers are able to easily make purchases at any given moment.

3. Online and offline payment integration
Small and medium-sized businesses that invest in credit card processing technology can open up opportunities to expand into new markets, as well. A brand that operates in physical stores, for example, can use electronic payment systems to supplement the creation of an online store, the SBA said. By offering customers the ability to make purchases either in person or over the Internet, businesses can experience a significant boost in revenue. Customers can also benefit from the convenience of paying for items at any time of the day or week.

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