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Most large franchises already accept card payments. It is a totally ordinary way of doing business, and the fees associated with taking card payments are already factored into the pricing system. However, with more Canadians becoming increasingly reliant on contactless payment options and online ordering, small businesses could be missing out by not keeping up with technology.
Nowadays, it is very important for Canadian businesses of all sizes to retain their loyal customers. One of the ways to keep them coming back is to embrace card payments and make it as easy as possible for them to pay for your products and services.
How Card Payments Work
There are many card payment companies operating within Canada, and they each have a number of offerings that can be tailored to suit the way in which you do business. Whether you are entirely home-based and want to take payments over the phone or via your website or you travel to your customers' locations and need a mobile card payment machine to accompany you, there will be a solution to suit you.
Most card machines take a percentage of each transaction, and many have no ongoing monthly fees. This means that you only pay a charge when you use them. Others, however, incur an ongoing monthly cost due to security features associated with handling customer personal information.
If you think you will be handling a large volume of card payments, paying a set monthly fee may work out to be cheaper than paying for each individual transaction. Therefore, it is important to discuss your individual requirements with your chosen card machine provider so you can ensure that you select the most appropriate setup for your business at the best value for money.
Why Card Payments Are Important
Many customers became nervous about handling cash during the pandemic due to the perception that they could be handling other people's germs, and this habit doesn't seem to be reverting now that restrictions are lifted.
Card payments also offer security for businesses that don't have to handle and store large quantities of cash in between visits to the bank, and they are also easy to account for when recording cash flow.
The final reason accepting card payments is important is that it is what consumers want, and as the age-old motto goes, "The customer is always right". Cash will always have its place in society and its use should never be entirely discouraged, but a business in the modern world will always benefit from the ability to accept card payments.