Benefits of Accepting Debit and Credit Cards

Non Cash Payments

In todays world of retail businesses, mobile businesses, and online businesses, there are many ways to accept non-cash payments and many benefits to business owners by accepting non-cash payments.With increasing frequency, consumers are turning to debit and credit cards as their payments of choice for safety and security.

Consumer Benefits of Debit Cards (Interac)

• Safer than carrying cash
• If your account is charged without your permission FDIC insured financial institutions return the money to you
• No enrollment neccessary, ties in with existing bank account

Consumer Benefits of Credit Cards

• Pay online easily and safely
• Unauthorized use of your account will be reimbursed to you
• Access products and services that do not accept cash or debit (hotels, rental cars etc...)

Why Your Business Should Accept Debit and Credit Cards

• Over 72 million Canadians have credit cards
• Canadians spent over $267 billion on their credit cards in 2008
• Credit cards allow for impulse purchases even when the consumer doesn't have money
• Canadians spent over $176 billion on their debit cards in 2010
• Canadians love using credit cards to earn loyalty rewards
• Accepting debit and credit cards increases sales

Unique Payment Solutions

There is no one size fits all payment solution for every business. The payment methods you will accept should be specific to your industry needs.

• Point of sale terminals allow you to accept debit or credit cards at your retail business or office - deposit to 2 different bank accounts with 1 terminal
• Mobile point of sale terminals allow you to accept debit or credit cards anywhere within range of a cell phone tower
• Virtual terminals allow you to accept credit cards on your computer, iPhone, Blackberry, Android smartphone, iPad or any other web enabled device
• Virtual terminals allow you to accept credit cards by phone, fax, or mail
• Virtual terminals allow you to accept credit cards through your website
• Virtual terminals allow you to schedule recurring payments on a daily, weekly, monthly or yearly basis