Credit cards offer consumers payment satisfaction, drives sales
April 05, 2013

Consumers have known the benefits of using credit cards for years. Many credit card companies offer credit card reward programs, increased ease of use and low fees, making the payment option economically viable for much of the American population. Credit cards offer security for both the customer and the business, and studies have shown that accepting credit cards as payment in transactions through credit card processing programs can boost a company's revenue and increase its client base. 

According to research from the Credit Examiner, an online finance website, over 181 million consumers have a credit card in the United States. The average credit card user holds about 4.4 credit cards at any one time, and one in 10 have more than 10 cards.

Because of this increase in credit card usage, cash purchases are projected to decline from 27 percent to 23 percent by 2017 and purchases made with credit cards will rise from 29 percent to 33 percent. The most common use of credit cards is on travel expenses, with expensive purchases coming in second. 

The survey also found 33 percent of users carry balances of up to $10,000 and 13 percent have balances higher than that number. As more consumers rely on their credit cards at point-of-sale terminals and become more interested in the payment method, organizations can lose clients quickly to competitors.

Companies looking to grow their sales might want to consider accepting credit cards through Sage Payment Solution's credit card processing services. In addition, Sage Mobile Payments offers businesses of all sizes protection during the summer months when more companies take their services on the road to meet new customers at fairs and outside venues. Sage empowers companies to accept credit card payments and drive sales through ease of use and accessibility, and companies may want to invest in long-term credit card processing to ensure future sales. 

Nexus: G-WEBCD1