Benefits of accepting debit card payments

Do you have a small business and still not accepting plastic card payments, neither credit nor debit cards? You can get it right at first glance, but there are a number of advantages for companies that accept payments with debit card. Get to know some of them below.

Why accept debit card

safety and comfort

The main benefits of debit card transactions relate to security and convenience. Neither you nor your customers have to move sums of money with them. With more money in the bank and less in the drawer, you’re less vulnerable to damage attack.

The debit card makes impulse purchases easier

An attractive window in your store can encourage a customer to make an impulse purchase. However, the consumer may not have enough money to make the payment or may not want to incur new debt with the credit card. Completing the transaction with a debit card allows you to make the purchase without going into debt.

lower rates

Direct Debit purchases generally require less payment to operators and banks than credit card and check purchases, resulting in savings for your business. Direct debit purchases are also advantageous for the consumer, since the fees incurred with a credit card transaction are not charged. In addition, debit card transactions in general be processed in it shorter timeallowing the trader to access funds more quickly.

another possibility

As we live in a time when people would like to enjoy more options in different aspects of life, your customers may value or demand another option when paying for a transaction. If you don’t offer this option, the customer can leave your store empty-handed and the next time they shop, they might be the first to see if your competition accepts direct debit.

Not everyone has access to credit

Many prefer the convenience and security of purchasing with a card but do not have access to a credit card, either due to negative history or a personal choice. A debit card offers these consumers the advantage no need to carry cash and the security for the merchant of not having to worry about a bad check.

Another option in e-commerce

More and more operators are offering businesses on-line the option to receive debit card payments without the customer having to send money to a payment intermediary such as a PayPal. Do you accept debit cards for purchases on-line will increase the range of your electronic commerce.

Debit card charges

In order to accept debit card purchases, you must enter into an agreement with one or more card operators charge fees for each transaction made, in addition to a monthly fee for renting the terminal. Tariffs vary depending on the transport company.