Many small business owners refuse to receive credit cards and discharge because they want to save money for processing equipment and costs. Although this is a real cost issued by business owners, an increase in the customer base will greatly exceed the cost of long-term traders.
The latest report shows that consumer payment methods that are preferred are debit cards, especially among young audiences. The number of official PIN-based card transactions and signatures is expected to grow exponentially over the next few years. You can have the reliable debit card substantiation processes online at https://www.cxcsolutions.com/claims/card-substantiation/.
55 cards that publish financial institutions participate in consumer card surveys. What they found was amazing. 3 of every 4 accounts that meet the requirements in these institutions can be accessed by payment cards, and 85% are able to start PIN transactions and signatures.
This large debit penetration rate plus the growth of sustainable PIN cards because the preferred payment method should have all small business owners who pay attention, especially small businesses that do not accept payment cards.
Business services are a prime example of an industry that is not served by a merchant account. Business services such as landscapers, pool maintenance operators, home cleaners, personal trainers, and accountants can benefit substantially from receiving credit and debit cards. Payment methods that conveniently attract customers and reduce old account receivables.
The growth of the debit card as the preferred customer payment method is an extraordinary trend that will continue to increase with financial institutions making bank funds more easily accessible through card payments. Young consumers who have grown with pin-based payments and without contact will continue to trigger the growth of card purchases well until 2014.