Every single month there are more than 500,000 new businesses that take off and hope to fly. Many will fail, but many will succeed. Those who will succeed will do so because they are properly set up to take credit and debit cards. Almost every small business that is not set up to take cards will not make it. They seem to think they can not afford to take cards, but the fact of the matter is that they can not afford not to.
Credit card solutions for small business is a niche in the financial world that is growing rapidly. Banks are finally beginning to see how the public wants to spend its money and how small businesses need the kind of help and support that can make their business thrive.
In almost every American wallet you will find a credit or debit card. Many different studies have recently found that 70% of Americans have at least one card on them at all times when they go out to shop. The convenience is there for credit card holder as well as debit cardholders to pay with the card instead of carrying cash with them.
When surveyed about their spending habits, 43% of Americans choose the debit card for their purchases. That compares with 35% who prefer to go with credit cards. Only 9% of Americans who were surveyed said that they preferred to spend cash. This 2014 online survey of 1,000 customers by TSYS compared the preferred method of spending by consumers who had debit cards and credit cards.
Though a great deal of business is being done online every day, brick and mortar stores still bring in 94% of all retail sales. With the above survey and statistics in mind, if you are a small business and you are considering how you can do more, now is the time to look at credit card solutions for small business.
Credit card processing software is not what it used to be. The payment processing industry has grown and expanded over the last few decades, giving many small businesses the opportunity to compete by having a payment gateway that allows their payments to be processed quickly and efficiently.
Small businesses that used to not be able to take debit or credit cards are now starting to take them because of the advances being made in credit card solutions for small business. When a small business has a way to bring the money in that doesn’t cost them a prohibitive amount to be sent right back out, you know that small business has a fighting chance of surviving.
In our modern world, getting businesses on their feet and keeping them there is beneficial for every one of us. It helps the economy, it helps shoppers get their goods from local businesses, and it helps the business owners have more ways available for customers to be able to purchase what they have for sale.