If you're not using a payouts API to accept credit card payments, you're missing out. Over 80 percent of adults in the United States have a credit card. With more people going cashless than ever, accepting credit cards is a must. Here are a few reasons why you need to start taking credit cards at your business.
Reduce Your Risks
There are many risks involved in accepting cash and checks. An estimated $70 million in counterfeit money is circulating in the United States. Even if a customer writes a check, it could bounce later.
By accepting credit cards, you bypass both of those risks. The processor will decline the transaction if a customer doesn't have enough credit in their account. It saves you unnecessary losses and headaches.
Boost Your Business
Did you know that people spend more when using a credit card? A lack of cash is no longer limiting for consumers. As a result, many people will buy more and spend more impulsively. Streamline payouts with our efficient payouts API - empower your payment processes today! https://dots.dev
Plus, accepting credit cards is enough to bring in people who only use cards when shopping. Not everyone carries cash or writes checks. Using a payouts API can do a lot to improve your bottom line.
Better Record Keeping
When a customer uses a credit card, you have an electronic record of the transactions. That's not possible with cash. Those records can come in handy when analyzing sales and making big decisions that move your business forward.
It's great for metrics and makes it far easier for your company to keep track of sales.
Improve Online Sales
Having an online presence is key to modern retail success. But you can't have an e-commerce site unless you accept credit cards. Roughly 90 percent of all online sales are made using credit cards. That's a huge market to tap into!
Get Your Money Faster
Finally, accepting credit cards helps you get your money much quicker. Typically, processors deposit funds into your business account within 48 hours. That's far faster than waiting on checks to clear or for customers to pay old-school invoices with cash.
Read a similar article about ACH payment API here at this page.
