Credit card payment processing boosts merchant revenues
February 20, 2013

Payment processing in the retail sector continues to shift toward a more cashless landscape, as consumers increasingly prefer electronic and plastic-based transactions when shopping. Businesses should consider adopting the systems necessary to accept credit card payments through a variety of platforms, as this will ensure that all potential purchases are captured at the point of sale.

Business 2 Community recently reported that a new study has revealed the hard-dollar improvements companies experience after implementing systems to accept credit and debit cards into their transaction policies. According to the news provider, the research indicated that companies of all sizes experience major revenue increases following adoption of payment card processing platforms.

The source cited a study from the Journal of Experimental Psychology, which revealed that the average order size at one major restaurant chain increased from $4.50 to $7.00 following the decision to accept credit card payments. Other research indicated that some businesses have seen increases of up to 40 percent in average order amounts after implementing credit card processing machines. 

Business 2 Community added that consumers spend an average of 12 percent to 18 percent more with credit cards than when using cash, and that smaller stores have seen average daily revenue increases of 20 percent after adopting mobile and plastic card payment processing technology. Finally, the news provider added that mobile payments represent a massive opportunity for growth, and should be considered when formulating a long-term strategy.

With integrated payment systems, merchants of all sizes can improve the efficiency and affordability of transaction processing, while simultaneously enabling a wide range of methods customers can use to make purchases. These solutions can be implemented quickly and used to accept credit card and debit card payments through a variety of platforms, improving customer loyalty and boosting revenue growth. 

Nexus: G-WEBCD2