Why you need to accept debit cards

With the current economic downturn, many consumers are shifting their choice of payment method to debit cards from credit cards. Consumers are using them at a faster rate than cash sales. Convenience seems to be the key now.
If you are a merchant and do not accept debit cards at your place of business, you are missing out on potential customers and possible cost savings. Pin based debit transactions are only charged to you at a flat rate and not a percentage. Depending on your average sale, this flat rate can be much cheaper than the typical discount rate charged for credit card transactions. This can amount to tremendous savings to your bottom line.
If you do not accept pin based debit now, make sure that you contact your current merchant service provider to add the capability or you can contact us at 800-255-0898.

Accept credit cards at your business

Why accept credit cards?


In today’s business environment you need to take advantage of every possible form of payment for your customers. Approximately 40% of today’s retail purchases are either by credit or debit card.

Consumers mainly use credit cards so they do not have to pay for purchases immediately. This also works in the merchants favor due the fact that most individuals spend more on purchases when using credit than cash. This figure is 20% or more. Yes there are fees associated with accepting cards, but for most businesses this amount is negligible compared to sales paid for by credit cards.

Another factor that drives credit card sales are the rewards offered by card companies on credit cards purchases. Many individuals will look to use their cards to help earn points and rewards for flights, hotels, goods and even cash back rebates from their card companies. This alone has pushed many to use cards that normally would not.

As a business owner, not accepting electronic payments and having your competitors due so will cost you business. If you offer the same products or service as someone else but do not accept cards as they do, consumers will not even bother with your offerings if they are looking to make a purchase using a credit or debit card. You will not even know that customer is lost because they will not even attempt a purchase at you place of business. Your bottom line will be affected without you even knowing how many customers you possibly could have had.

In these tougher economic times, credit card acceptance is a must for your business to attract as many possible customers. They need to purchase your goods and not your competitors.

What type of credit card machine do I need?

After finding the right merchant service provider you will need to determine the type of machine to process transactions. There are many to choose from.

Most retail store front businesses will need a machine with a printer either integrated or separate printer; this provides the merchant and customer with a receipt of the sale.

At your business are you going to have a land line telephone line? Most machines require a land line telephone line for the machine to dial out and get an authorization; if not there are machines that allow you to use an Ethernet IP connection. The Ethernet connection allows for a faster transaction.

There are also multi-merchant machines; these types of machines can have multiple merchant ID's programmed into them. These machines are ideal for hair salons that rent out their chairs to the stylist and each stylist can have their own merchant account.

Eagle Merchant Services offers all of these types of credit card machines; if you have any questions please give us a call at 800.255.0898.



© Eagle Merchant Services is a Chicago merchant services area merchant account provider offering merchant accounts and credit card machines.