If you are a small business, investing in a card payment machine might seem like a low priority expense. However, in today’s digital world it is a non negotiable to offer customers a card payment option if you don’t want to exclude an entire customer base. Recent data revealed by The Guardian showed that more than 50% of people now pay by card, with over 13.2bn card payments taking place in 2018 alone. Card payments are showing no signs of slowing down, in fact, the use of card payments continue to increase with a 14% rise since 2016. So if you’re looking at investing in a small business card machine check out some of the benefits below…
Your customer base is not limited with a small business card machine
Even as a small business, the pros of a contactless card reader will far outweigh the cons. The last thing you want to do is put a limit on who can shop with you and how much they can spend. A huge percentage of people don’t carry cash with them anymore, instantly that’s a whole customer group that can’t shop with you if you don’t have a small business card machine. But even if a person does have cash, you are putting a limit on how much they can buy as they can only spend the money that’s in their pocket. If you offer non-cash payments, they will be able to spend more money with your business.
A recent study by Barclaycard Research, revealed four ways how not offering a card payment option can impact your business.
- A staggering 32% of people will walk away from a purchase if they can’t pay by card.
- On an average day, 37% of people will have less than £10 in their pocket at any one time.
- Almost 1 in 5 customers choose to buy from somewhere where there is option for contactless payment. As a percentage that’s 20% of potential business you could be missing out on.
- 41% of people would get frustrated if they could not pay by card, with 43% saying it would even lower their opinion of that business.
For a new or small business, establishing yourself as a reputable and trustworthy business isn’t always easy. By investing in a trusted brand and offering TRANSAX Merchant Services you will look professional and show that you are a business that can be trusted.
What to do next?
Great, you’ve decided to purchase a small business card machine, but what’s the next step? Here are a few FAQ’s to help you out and get you on your way to increasing your business profits.
1. Which card machine is right for my business?
From countertop to portable or mobile card machines, there are multiple kinds of TRANSAX card machines available. Our team at TRANSAX are here to help you make this choice, and offer their expert advice on the right machine and service for your business.
2. Are TRANSAX card machines complicated to set up?
Far from it. All our machines come pre-programmed with your settings, so you simply plug it in and you’re ready to go.
3. Are there any hidden charges or fees?
With TRANSAX all your rental and transaction charges will be clearly displayed in the single statement we post to you, every month.
Working with TRANSAX makes getting started with card payments quick and easy. We can answer any questions you have and help you choose the right small business card machine for your business so head to our website today. Alternatively, call 0345 601 4486 to speak to a member of our helpful and friendly team.
If you have found this blog helpful, you may wish to read our previous blog on Contactless Transactions.