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Credit cards are not going anywhere. No financial analyst can deny this fact. The widespread availability has made credit and debit cards the premier payment method all around the globe. Nothing is easier than tapping your credit card against an ExpressPay terminal, or simply swiping it across a old fashioned terminal. One can eliminate the dangers of carrying cash and checks, because credit card issuers offer $0 liability for fraudulent transactions and can be cancelled after notifying them of the theft or loss. Even consumers with less than perfect, or even downright poor credit can obtain a credit card in a matter of minutes. Not only have these pieces of plastic made cash virtually obsolete as a sole payment method, they have had the exact same effect on paper checks as well.

With the innovations that have recently taken place in the world of e-Commerce, such as SSL certificates and identity verification, using credit cards on the internet has become exceedingly safe in practice. Many consumers now pay their bills exclusively online, and rarely mail money orders or checks for purchases anymore. Studies have shown that over ninety percent of e-commerce transactions are paid with a bankcard. An online store will simply not survive if they rely on the old fashioned method of waiting for payment in the mail. It is no longer efficient, if it ever was, and consumers refuse to shop with retailers who don’t accept their credit or debit cards. Internet and retail businesses have to accept credit cards in order to grow or even to avoid closing up shop. But even if a merchant accepts credit cards, what good will it do if no customers realize it?

Nearly all credit card companies provide free credit card logos an e-commerce merchant can place on their website to let their customers know they accept credit cards. Some of these credit card logos are even verified with a payment gateway seal of approval, showing customers that your business is legit and that they can feel comfortable spending their money and giving you their information. Many myths surround e-commerce, and all generations are increasingly growing uneasy about fraud and identity theft. Therefore, it is important to express that your business has their security in mind. You need to show them that you offer them as many payment options as possible. Mailing cash has long been frowned upon, but now customers are becoming aware that even a check can just as easily be stolen. The vast majority of credit card fraud and identity theft has not happened through the world wide web, but by carelessness on the part of retail personal leaving sensitive data lying aroundfor prying eyes, or even employees with malicious intents. Dispelling e-commerce myths is not an easy task, whether it be on the part of bankcard processors or businesses themselves. Most Registered Independent Sales Organizations of Mastercard and Visa pride themselves on securing customers data, and providing merchants with credit card logos.

In order for a merchant to succeed, they must actively market themselves. Your business giving consumers as many payment options as possible is one of the smartest business moves a merchant can ever make. Millions of dollars in sales have been lost due to the inconvenience of having to write a check, or carry large amounts of cash. Even not taking American Express and Discover can drastically impact your bottom line, as many people with these cards carry them exclusively, due to brand loyalty and customer service. And even if a merchant readily and warmly accepts credit cards, but does not inform customers of this option, bottom line profits will go down. Pasting a few lines of HTML takes seconds, and rewards gained from doing such are enormous.

Place the credit card logos on your site, and tell your customers, “Yes, I take credit cards”!

Tags: Business, Management & Administration