Entering the global marketplace can be extremely daunting. It comes with magnified ups and downs, and the prospect of appealing to an entirely new marketplace is a challenge in itself. How do other businesses succeed? The answer is quite simple, and it lies in a little plastic piece that has changed the world of consumerism forever—credit cards.
Credit cards are one of the leading international payment methods, which accounts for almost half of online payment transactions. Visa Mastercard, American Express, JCB, and UnionPay are some of the most well-known, but the list goes on.
Why are credit cards so popular? They’re issued by banks, which then allows customers to borrow money under terms of credit. They pay the money back within a grace period, which keeps them away from paying for extra fees.
As a widely used mode of payment, eCommerce and marketplace from all around the world accept credit cards, including SaaS subscriptions, professional services, and even on-demand services.
How do credit cards work through Stripe?
- Step 1: Once the customer finds their needs met, they checkout and choose the credit card payment option.
- Step 2: They will then be asked to input their credentials, which is a requirement to complete the transaction.
- Step 3: Once credentials are placed, the customer will receive a notification informing them that the transaction has been completed. Keep in mind that all payments are immediate.
Why should your business accept credit cards?
Regardless of your business type, it’s undeniable that accepting credit cards as a form of payment brings benefits to your business. It increases sales and boosts success, bringing forth conversions and sales like never before.
To fully understand what credit cards can bring to your business, here is a quick rundown of the benefits you can enjoy:
Credit cards legitimize your business
There’s no other way to place it—credit card payments are crucial to business success. Once you offer it as a payment method, your brand is welcomed to the industry as legitimate. Displaying credit card logos on your website commands authority, letting people know that you are worth transacting with.
Providing your prospects with options also helps with customer satisfaction, especially when your business sells more expensive products, such as mobile phones. With an option to pay in terms, you gain a competitive advantage. In other words, you improve your place in an ever-competitive market just with the help of a card.
Credit cards minimize the risks
You may have dealt with fraud payments in the past, but with credit cards, risks are low. It eliminates the trouble of receiving bad or bounced checks, fake online transfers, and even fake paper bills. You never have to worry about tracking customers and filing lawsuits. With security by your side, you can now focus on other aspects of your business, such as growth and expansion.
Credit cards are inexpensive business investments
As a growing business, you may be reluctant to incorporate credit card systems out of fear of budget constraints. As a growing industry, credit card companies now offer merchant services packages, which allows you to work within reasonable budgets. Credit card rates are also low, which provides small businesses with the chance to offer credit cards payment methods.
In Need of a Payment Page Builder Services?
If your business does not offer credit card payment methods yet, now is the time to do so. Incorporating it into your business opens plenty of opportunities for success and growth, especially if you wish to expand into an international market.
If you wish to diversify and expand your business, offering diverse payment options is the way to go. Allow Payment Page to help, a hosted payment page built with Stripe. Gaining a competitive advantage doesn’t have to be difficult. In a highly competitive world, working smart is the best way to get ahead—and that means offering various payment options for markets all over the world. Work with us today!