invoicing made easy
Start your free trial
No credit card needed
No credit card needed
Is there any good in accepting eftpos for your business?
Having a business is a great blessing especially when an owner knows the right strategies to run his business. And one of the concerns would be whether a business should accept eftpos as payment or not.
Accepting eftpos for your business has many advantages.
Since many people nowadays prefer paying with eftpos over cash, purchasing will be more convenient on their part. Eftpos systems are now accepting debit cards as well. It appears to be an advantage because if your customer doesn’t have cash but wants to purchase from your business, allowing them to pay via cards simply increases your sales.
Normally, businesses that store huge amount of cash on hand are more likely the targets for crime. Accepting eftpos, on a lighter note, deprives you of losing as much money and allows you to keep a small supply of cash on hand. Along with that, it also reduces the the time you spend in managing finances.
Businesses that accept eftpos as payment are usually seen as stable, more legitimate, and trustworthy by their potential clients and customers.
Eftpos push customers to buy unplanned items creating impulsive buying. That is because study shows that eftpos holders tend to spend more and more often than those who use cash.
As a businessman, you need not worry anymore about bad checks and non-payments. More than that, eftpos can always help get some of your past due accounts cleared up. Thus, having less bad debt and getting higher cash flow.
With all these benefits, accepting eftpos is absolutely a smart thing to do. With just a small cost of acquiring an eftpos system, your business is able to meet your customers’ expectations while you observe an increasing average sale value.