Although having card terminals in your business would incur some costs, it provides the business with flexible payment options available to the customers. In addition, it can potentially increase your customer base. In addition, some customers would prefer to pay using cards as this provides for an audit trail of their spending.
Getting a payment terminal would make your business more competitive, and if not, on par with your competition in terms of payment methods available to the customers. Accepting credit and debit card gives your business an edge against someone who accepts cash-only transactions.
Currently, many people are less inclined to carry tons of cash, as it is inconvenient and could potentially be a threat to their security. Therefore, majority of the people have credit and debit cards which relieves them of this insecurity and inconvenience. This also provides assurance, that they will always have enough money to pay for the item of interest.
Disclaimer: The objective of this template is to provide general knowledge and guideline for user; therefore it should not be main reference in substitution for professional legal or financial advice. HLBB would like to remind there are no guarantees in terms of accuracy as the accuracy of data are subject to information provided by user. HLBB will not interfere or saving any information provided in this document.
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