How do sellers benefit from allowing their customers to use their credit cards?
What characteristics of a plant asset make it different from other assets?© BrainMass Inc. brainmass.com June 3, 2020, 11:59 pm ad1c9bdddf
Hello. I provide the following to assist you.
Sellers benefit from allowing their customer to use their credit cards in a number of ways.
1. Brings customers in their specific store to purchase items as opposed to going to a competitior
I provide the following as a resource on this topic and 7 reasons why a company would benefit:
"1. Accepting credit cards captures the impulse customer - there are many people who buy on impulse. They see something, they like and before they think of the pros and cons of buying it, they have already charged it to their card.
The businesses that don't accept credit cards, will accept payment by either check or cash or electronic transfer, which takes much more time. During this time (as is often the case), the customer might realize that they actually can do without the product - and the sale is ultimately lost.
2. Accepting credit cards can help acquire international customers - If you sell products online, or if you use EBay(R) to sell items, then accepting credit cards from your customers makes it easier for overseas customers to pay you more promptly - especially when compared to check payments or wire transfers (for large-ticket items).
3. Accepting credit cards makes it drastically safer and easier to get paid - businesses that accept credit cards bank on the high security system the credit card providers have established the world over. Though "headaches" can still occur from time to time, the ...
This solution provides an explanation of plant assets, and benefits of allowing customers to use credit cards.