Credit card payments have been on the rise for years, and the pandemic has raised those figures significantly. People have grown accustomed to contactless payment from online shopping to convenience store purchases. This is of course due to the pandemic where many consumers did not want to leave their homes.
According to a study performed by Travis Credit Union, in August 2020, an increasing number of Americans are becoming digital. Fifty percent stated they utilized cash and much less during the epidemic than before the COVID-19 incident. Furthermore, 58 percent stated they wanted to completely abandon cash after the pandemic.
Store owners benefit from offering credit card payment acceptance. Catering to credit-card-paying consumers has advantages for business owners. According to thebalancesmb.com, there are many benefits for business owners to accept credit cards; such as legitimizing the business, boosting sales, and eliminating bad checks. Many business owners can have a win-win situation by having the business grow. Statistically, customers purchase more merchandise if the retailer accepts credit cards.
If a store is cash-only, consumers may be frustrated and annoyed that a store only has one payment method. They may not buy as much. They may even avoid the store because it doesn’t accept credit cards. Credit cards are popular for accumulating miles, hotel points, cash rewards and other usage benefits. A cash-only shop loses out on higher sales that could be strong revenue producers.
There are many reasons why shoppers prefer credit over cash. People dread waiting in long lines that appear interminable. Expect lengthier lines when a shop accepts just cash, as customers search through their wallets or purses for spare change. Customers will undoubtedly find cash-only payment inconvenient.
NRS Pay makes it easy to accept credit cards without hurting your budget. It’s a big deal for small businesses that there are cost-effective ways to accept credit cards. Small-to mid-sized convenience stores may start accepting credit cards without breaking the bank, thanks to NRS Pay, a payment acceptance service provided by National Retail Solutions (NRS), a prominent national provider of Point of Sale (POS) systems.
With NRS Pay FeeBU$TER, there is a $0 monthly charge with $0 out-of-pocket transaction fees for retailers who process more than $18,000 in credit cards each month! In this instance, there is no charge for the service at all! If a business processes under $18K/month, there’s just one flat, low monthly fee of $49.95. A surcharge “service fee” is passed along to the customers to pay for the transaction fees. The surcharge is waived if they pay in cash, hence this program is conceptually similar to popularly recognized “cash discount programs”. NRS Pay provides business owners with a free credit card reader, requiring no long-term contract and never charging any hidden fees. Best of all, a business can terminate their NRS Pay processing service and easily return their card reader terminal at any time without any termination penalty.
NRS Pay does not charge additional fees for using their services. There is no fine print to worry about, and there are no surprises. Honesty and transparency with clean, ‘no-catch’ products are what makes NRS Pay different from everyone else.
With NRS Pay FeeBU$TER, company owners will see a significant boost in revenue. Credit card payment acceptance and the checkout experience is at the heart of every retail business.
With a few NRS Pay plans to choose from, refusing to accept credit cards is a mistake. With services like NRS FeeBU$TER, making the switch from cash-only to credit card acceptance isn’t as tough as it seems.
To learn more about NRS Pay and FeeBU$TER, visit nrspay.com or call (833) 289-2767.
