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There is a common concern among small merchants and new entrepreneurs that do in-person retail that they cannot afford credit card payment processing, that it will open them up to more risk than it is worth, or that they don’t really need to let customers pay with credit cards. These worries are essentially unfounded. Small business owners that adopt
Canada payment processing services consistently find that the added ease of payment processing increases business by generating more return customers and higher purchase sizes, gives them the flexibility to offer other options to their customers, and allows them to take advantage of different sales-point opportunities than they could as a cash-only business. This is because
credit card processing services in Canada that are facilitated by advanced technology such as wireless credit card readers and superior customer service offer a wide array of benefits for merchants.
The hurdle that makes overcoming this reticence so much more difficult is that these merchants are almost certainly being constantly bombarded with offers and pressure from credit card processors to use their service. The never-ending hunt to snap up new merchants and convert those already paying for Canada payment processing creates intense pressure on these new businesses, and can cause them to be resistant. Regardless of this pressure, the numbers don’t lie. According to CreditCards.com, there were 37 million debit cards and 72 million credit cards in circulation in Canada in 2009. That is just under two credit cards per person. Even if the average person with credit cards has four, that means 17 million Canadians have credit cards. This is a huge consumer pool that businesses are inconveniencing by refusing to accept credit card payment.
Of course, the biggest current argument in favor of implementing a Canada payment processing service is that ability to accept payment online or by phone, as this is the easiest way to increase the number of potential customers dramatically. The only real drawback is the possibility of becoming collateral damage in the current credit card wars that see companies increasing how much they charge retailers, but this is really just an argument in favor of finding the best payment processor possible, and then reaping the benefits of letting customers pay with a card.
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