When I first had my international transaction with a client overseas for her wedding stuffs, the first question she asked when we discussed about the deposit payment is whether my shop accepts credit card. Well, I wish I do and secondly I really wish I have a retail outlet with the credit card machines and all…huhu!
You know, those terminals are actually so cool. Some are really equipped with state-of-the-art technology that enable complex processing demand. Most will deliver quick transaction times for multiple merchant applications and identifications. So you don’t have to let your customers wait for so long for the completed transactions.
And there is also another way for those with online store. The eCommerce solutions most of the payment solutions providers offer will process and manage credit card transactions as your customers buy the products from your online store and enter their billing details. No worries about fraud and other business risk when it comes to Internet transactions.
My friend who has a spa and beauty salon was telling me early this year how her business really perks up after she applied for merchant account and advertised that the spa accepts credit cards. I guess it is really a matter of convenient and a key factor to satisfy your clients once you let every potential clients that come into your shop to know that credit cards are accepted here.
They feel happy to indulge more and even spend more when they know you accept credit cards especially in the case whereby initially they are not planning to spend their hard earned cash at your store or retail outlet. You see, those shining plastic money makes you think that you have more than what you really earn so you wouldn’t think twice about swiping it for retail therapy…haha!
If you are running an ecommerce business like I do, having a merchant account that accept major credit cards is possible. The problem now for me is the high charges most of the solutions providers impose on every transaction done and plus for most of the overseas business deals, I have to bear a lot of charges when it comes to forex conversion to my local currency.
But I think as my business grows and the profit margin is getting bigger, there will be a point that I could absorb all the hidden costs and offer credit card as major payment method for products purchased in my online store. For now, my business website is just like a catalog for people to see what I am capable of crafting.