Why People Prefer Paying with Their Credit Cards
Payment convenience matters much to your customers, so if you have an online business you should make sure that you offer this to your customers. Today, online transactions have become a global trend with millions of transactions happening each day. And now there are many ways by which a customer can pay for a product. It used to only be credit cards that were accepted as payment methods before but now there are websites such as PayPal and other that offer payment solutions and have also become very popular. Some online stores only accept e-wallet payments without any options for direct credit card payment. Today, despite all the payment conveniences, people still opt for paying using their credit card as their first preference.
So what is the reason behind this credit card payment preference?
The reason why most people don’t use other options is that you don’t need to register anywhere to use your credit card to pay for your goods. You don’t need to open an account on any website to complete your purchase.
Using credit card to pay for your goods is fast and convenient. When a customer enters the credit card details on the checkout page, it can be processed in seconds. There is an instant accept or decline message instantly. Payment with credit card will have your order shipped immediately after the payment because the funds are deposited instantly to the vendors merchant account.
There is a better protection against fraud offered by credit card companies and it enable you to charge back if the merchandise is not what you expected. When customers but online they feel safe ordering a product with credit card payments because there is increased protection.
Visa and Mastercard holders have additional security layers for all card purchases with the special Verified by Visa and MasterCard Secure Code program. With the implementation of this feature customers will only be asked for a password during the purchase. This ensures the safety of an order and the card is used only by the authorized person. Customers feel safe ordering products. If you have this feature working on your website, then customers will trust your store more. and you will be protected from possible chargebacks.
You can earn reward points from using your credit card often. And you gain benefits if you have gathered enough points. That is why they prefer to use their cards even more.
Customer have a credit card limits which they can use to pay for the goods. No matter how small your money in the bank is, purchasing up to the credit card limit is possible. For businesses, this means an increase in sales.
You reach international customers selling online. Buying your products can be done by using their credit cards for the purchase.