If you operate a business and you are not accepting card payments, you may want to reconsider. Non-cash transactions such as mobile and online payments, contactless payments and paying with plastic have become increasingly popular. According to the Australian Payments Clearing Association (APCA), payment by cards is the most common non-cash payment method used by Australian consumers today. Contactless technology is becoming more prevalent among retailers in Australia. Here are 4 reasons why your business should start accepting card payments.

 

Increase Cash Flow

1. Increase Cash Flow

Cash flow is an indispensable factor to any business. Reduced cash flow can adversely harm your ability to generate returns. Your competitors are probably accepting card payments. Card payments can increase cash flow by faster payment cycles. You no longer have to wait for weeks or months for payments to be cleared. The money will be deposited directly into your nominated bank daily. Plus, card payments make it quick and easy for both you and your customers!

 

Impulse Buying

2. Encourage Impulse Buying

Studies have shown that customers tend to purchase more using card as opposed to cash. That is great news for businesses that are already accepting card payments.

 

 

Happy Swipes

3. Card Payments Associated with Positive Emotions – Happy Swipes!

Studies have shown that consumers associate positive emotions such as security, relaxation, and confidence when they make a card payment. Consumers tend to trust businesses that accept card payments as it is believed to demonstrate a sign of legitimacy and it defines an established business.

 

Time is Money

4. Time Is Your Most Precious Commodity

You can say goodbye to time-consuming payment methods and say hello to more efficient card payment methods such as Tap n Go and the use of Chip & PIN. By accepting card payments, you can focus on expanding your business and generating more sales as opposed to making trips to the bank and dealing with the endless paperwork associated with invoices, bounced checks and cash deposits.

How to get started

Simply request a callback and a relationship manager will be in contact with you shortly! Or visit our website or call us now at 1300 780 788!

Live eftpos offers you a reliable and seamless EFTPOS solution which is proven to help your business grow with no hidden costs, lock-in contracts, exit fees or sign-up fees.


Sam Edmond

Sam Edmond is Digital Marketing Director for Live group.