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Accepting Credit Card for Business
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Honor Credit Card and Develop your Business:
The ultimate aim of a business man is to develop his business every day. There are many ways to develop a business. When a merchant starts his business as a small business, he would plan to develop his small business to a moderate business and then to a very big business. Developing business is an art and it is very difficult to do it, unless you deeply concentrate on the various aspects of the development of the business. The basic idea is to increase the turnover every day. It depends on the strength of the business.
For example, if you are running a departmental store, the daily business would be around thousand dollars a day. There would be about fifty customers visiting your departmental store. When the number of customers increase, naturally the collection would be better always. When the customers are satisfied with the articles from the departmental store, there would be substantial increase in the inflow of customers. For this purpose, you have to supply the best products and only branded items. If you are running the business regularly, there would be many business people who would supply the commodities even without any initial payment. Here, you should be very careful in selecting them and placing them in your departmental store. At any cost, there should be no cheap materials in your shop. If you start to sell the cheap and bad commodities, slowly but surely you would loose customers and after some time, there would be no good customers at all. As for as the purchasing public are concerned, they have many options to buy. They have the freedom of buying anywhere they wish. Unless they are attracted by your shop, you can not expect them to shop in your departmental store. In this modern world, no one is willing to carry cash with them when they go for shopping. Most of the people carry only credit cards for shopping, which is better protected. In other words, if you do not honor credit cards, it would not be possible for you to develop your business. Accepting credit cards is the easiest way to develop your business. When they purchase things with their credit cards, they have the assurance for the quality of the articles they buy from the departmental store. When people go for shopping with their credit cards, the banks which issue the credit cards take the responsibility for the quality of the articles. If they are not satisfied with the purchased items, they are at liberty to return them and get back the amount for those articles. So, the customers always prefer to use credit cards only when they want to shop.
By accepting the credit cards, you are also protected. You can return the commodities collected from the customers to your seller and get back the amount. Since the quality is the most important factor, you should be very careful in selling only the best things to your customers. Once you start to accept the credit cards, you would be surely jumping in your business and you can feel that you are in a different position. You would be having about two hundred customers and your daily business would be around ten thousand dollars a day. Even you would be surprised to witness the development in your business. But at the same time, accepting credit cards is a very difficult task. It is just a small board that says we accept all credit cards. But behind that, there is a big deal. If you wish to accept credit cards, you have to follow many instructions given by the banks and you have to accept all the conditions by the banks. There are many business establishments waiting for the concurrence from the banks. They do not just give the acceptance as we think. First you have to apply for the acceptance of the credit cards. For this purpose, there is a separate department in all the credit card issuing banks. They would come personally and inspect your business place. If they are satisfied with the space of your store and the quality of the commodities you sell, they would take some samples from your store for quality check. It may take some time. Once they are satisfied with the products in your store, then they would send their agreement form to accept the credit cards. The banks are interested in their customers than the shops they select to accept their credit cards. After fulfilling all the requirements by the credit card issuing authorities, you would become a member of their group. You have to remember one thing in your mind that accepting credit cards itself is a privilege and that itself would give you confidence for the betterment of your business. Some business men may think that it takes a few days for them to get back the amount form the banks. But normally it should not be a worry for the regular business people. After all they are going to remit the collection amount into their banks. They have to keep a separate account book for the credit card business and maintain the book properly. Of course, approximately eighty per cent of the business would be only with credit cards. When you have to buy commodities for your business, you are going to buy in a wholesale market, where you can use your own credit card. For the customers, it would be very easy for them to use credit cards than money. They are free from fear. Even if the credit card is stolen or misplaced or irrecoverably lost, immediately they can inform to their banks and the transactions would be stopped at once. So, the customers who are using the credit cards are highly protected. It is very simple for them to get another credit card soon. The sellers also have got their own responsibility to check the credit cards before accepting them. It would be easy for the experienced business people to identify the customers just by seeing their face. There would be a lot of difference in the face itself while they are using the stolen credit cards. But the owner of the credit card is safe, since he had already informed about the theft of his card. So to say, accepting the credit cards is the best way to develop the business and it would not take a long time for any one to be a big established merchant.
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