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Today, accepting credit cards is an expected part of doing business.
Customers, especially online customers, expect to be able to pay for their
purchases with a credit card, within seconds, or they will take their
business elsewhere. Period.
Consumer spending on the Internet is exploding, and these consumers use
credit cards.
 Studies have shown that the volume of purchases made on the Internet or
through other forms of electronic commerce will grow to more than $333
billion annually by 2002, and that Web-based transactions will account for
about 1% of the total global economy by that time. That's less than two
years
from now. And the projections beyond that are for massive and exponential
growth as far out as anyone can see.
Other surveys have projected that over 329 million people will be using the
Internet by the year 2002, that about 34% of all current Internet users have
already purchased goods or services online, and that a whopping 76% of these
current users have indicated they would most certainly do so at some point
in
the near future.
And... 80% of these consumers have also indicated that their preferred
payment method for making online purchases was with a credit card.
It couldn't be clearer. If you are involved in electronic commerce, you MUST
offer your customers a way to purchase your products or services using
credit
cards.
Still not convinced you should be accepting credit cards? Then consider the
following:
- You'll give your company instant credibility with the majority of
consumers.
- You'll enhance your reputation for customer service and convenience.
- You see more full orders and, ultimately, dramatically increased profits
- You'll substantially reduce your overhead costs and miscellaneous
expenses.
- You'll increase the working capital that you have available.
- You'll stop losing those profitable, spur-of-the-moment impulse sales.
- You'll reduce the hassle of recovering lost revenue from bounced checks.
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