Even Homeless Guys Take Credit Cards? Why is your business lagging behind?

When the credit card first entered the mainstream and started being used by the masses, there was a lot of talk of a plastic money revolution. While people were initially skeptical about it, according to the latest census figures taken in 2009, 156,000,000 among the population of the US (approx. 305,000,000 in 2009) had at least one credit card to their names. That’s more than 50% of the population holding credit cards way back in 2009, and that number has only gone up since. The figures mentioned have been taken directly from the United States Census Bureau’s website. Despite the growth of credit card usage in recent times, some business owners are still skeptical of offering credit card processing services to their customers as an alternative method of payment apart from cash.

Why some people haven’t gone the credit card way

This is either because they have preconceived notions about credit cards, don’t understand the process, or even because they feel the technology will be too much of them to cope with. While credit card processing systems are a bit complicated at first (just like any new technology) you quickly pick it up because they’re quite easy to handle, and credit card processing companies, like the aptly named www.creditcardprocessing.com who make their living through credit card services exclusively, also explain the process and train you to use the technology so that these issues aren’t a problem.

Even homeless people have left you behind

If you still think that credit cards are no big shakes and won’t really improve your business, consider this, Homeless people in Sweden who work as magazine sellers have also obtained credit card machines so that they can cater to a wider variety of customers. That’s right, people not just without a business of their own, but even without homes think that credit card solutions are a wise financial decision! The magazine, called Situation Stockholm, is a cultural magazine and uses the unique method of homeless people as a point of distribution, as these guys hawk the mag on the streets, straight to the customers. As it appears in this article on the Bloomberg Business Week website, the CEO of the magazine, Pia Stolt has addressed the question of why this move was deemed necessary, he says, “More and more of our sellers come in and say that people don’t have cash—they have told us this for a long time, this becomes frustrating, but now they feel they offer an opportunity to buy the paper.”

Stefan Wikberg is one of the 350 vendors in the magazine’s employ who use credit card machines. He operates outside of Stockholm Central Station’s subway entrance, he too addressed this plastic money revolution, he said’ “Before, everyone said they don’t have cash or that they cannot pay with their mobile phones because it was a corporate phone. But now they can’t get away, I take cards, SMS payments, cash, and they can also pay in dollars and euros.”

It’s just good business sense

Clearly then, providing your customers with more than one payment option are part of the territory rather than an exclusive option these days. With credit card processing options, you get an added avenue for receipt of payments, quick, easy transactions, no worries about change, a clear record of sales, and freedom from the hassle of held up money due to post-dated cheques, the clearance process, bouncing of said cheques and the like. Having such an option also improves the impression of your company in the eyes of a prospective consumer, because having credit card processing shows that you are a professional outfit, you are considerate about your customers, and above everything else, you mean business.

Don’t lose out

If 350 homeless guys in Sweden can see the sense in investing towards credit card processing, and are reaping the benefits of this investment, why can’t you? It’s time to kick your business into another gear, and expand your customer base in one fell swoop. Stump up the money for credit card processing (it doesn’t even cost that much), and you won’t regret it.