Accept credit and debit card payments to improve cash flow
Explore how accepting credit and debit card payments may be beneficial for your business.
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Cash flow is vital to the health of any business. Creating it, maintaining it, and growing it. It's what helps you run your business, from paying vendors and employees on time, to covering unexpected expenses.
If you're not accepting credit and debit card payments, you might be missing out on opportunities to better serve your customers and, as a result, enhance sales, improve your cash flow, and grow your business.
Here's how accepting credit and debit cards from your customers can help improve your business's cash flow.
First, don't miss out on a sale because you accept cash only.
Let's say you run a business that accepts cash only. Customers often buy less or don't buy at all because they don't have enough cash. But by accepting credit and debit card payments, you can enhance sales, improve customer service, and win long-term customers. In fact, more than half of small businesses that accept credit and debit cards make at least 1,000 dollars more every month in sales.
Accepting credit and debit card payments can also speed up the time it takes to access your funds. Let's say your business receives mostly checks from customers. Instead of waiting for those checks to clear or waiting for your next trip to the bank, you can have transactions approved almost instantly with funds available as soon as the next business day.
On top of that, if your business keeps a lot of cash on hand, accepting credit and debit card payments also reduces the added risk of cash and check theft or loss. Wells Fargo Merchant Services can help you improve your cash flow with payment processing options that allow you to accept credit and debit card payments from your customers with next business day funding.
If you'd like to learn more about how accepting credit and debit card payments can help your business, go to WellsFargo.com/biz/merchant to get started. Or, call 1-866-380-9828 for more information.