Internet Merchant Accounts: Inspire Loyalty and Trust in Your Customers

Customers today have a wider range of buying options than ever before. Television shopping channels, catalog sales, and even online merchants are all competing for a piece of the pie.

As a result, savvy consumers can be much choosier about the merchants they deal with, keeping a sort of score that allows them to select merchants and retailers that offer them just a little bit more than the competitors’ businesses. This shift in the marketplace has left businesses in the unenviable position of needing to create services and options that can allow them to earn “points” with consumers who have become used to being able to select from a wide array of retailers and merchants that are eagerly vying for their buying dollar.

Consequently, businesses everywhere have begun scrambling for methods, techniques and perks that they can offer to their customers, hoping to attract and then retain their loyalty. Some ideas are costly or time-consuming, yielding little more – if anything – over the initial investment. Ideas that are simple to use and business budget-friendly are hard to come buy, but when located or identified, should be implemented eagerly and without delay.

One of the quickest ways to earn customer support and loyalty is to offer them an added degree of convenience and flexibility in shopping with your business. As a result of computer technology, consumers have become used to near-instant gratification, and they are constantly on the prowl for easier solutions that can make their busy and hectic lives just a little bit easier.

Many companies today offer customer loyalty programs which many or may not depend on cards or other forms of ID to attract and retain customers. But because customer loyalty programs have become ubiquitous in recent years, their effect on drawing in and then keeping customers has begun to fade a little. In addition, these loyalty programs can be costly and time-consuming to maintain, making their actual value less than one might initially imagine.

A better option, and one that should arguably be explored before any other type of incentive or loyalty builder, is to begin accepting credit cards as a method of payment for your customers.

Credit cards are very popular among today’s consumers, and have become even more popular as Internet shopping has taken off. Convenient and easy to use, credit cards give customers the choice of how they want to pay for their purchases – all at once or over time – and consumers appreciate that level of trust and flexibility.

From their perspective, credit cards put an added measure of control in their hands, and businesses that recognize that need and cater to those customers can reap major rewards, both in terms of increasing their customer base and in terms of earning much more significant profits.

When your business begins accepting credit cards, it sends a powerful message to all its customers – cash buyers, too. By accepting credit cards, customers know your business is one that is willing to take extra steps to make shopping more convenient, and that you as a business owner are “plugged in” to the needs of your customers.

Moreover, your business is viewed as being more forward-thinking, robust and innovative, and better positioned to move with the changing tide of commerce. Customers understand that businesses that begin to accept credit cards are interested in their needs more than only the bottom line.

Interestingly, major consumer spending studies also reveal that customers – both those that use credit cards for most purchases and those that rely solely on cash – view businesses that accept credit cards much more favorably than all-cash businesses.

Businesses that allow customers to choose from among a wide variety of payment methods are seen as being more financially stable and more trustworthy than cash-only enterprises. What’s more, even new businesses can enjoy an instant boost in legitimacy and credibility, just by displaying the logos of the cards they accept, according to the same study.

Customers also tend to view credit card transactions as being more stable and trustworthy than cash transactions for several reasons. First, in a cash transaction the only proof of purchase a customer has is the store receipt that was issued at the time of purchase. In a credit card transaction, the customer has the store receipt, plus the credit card company has a record of the transaction in case any disputes should arise.

Credit cards also offer extended warranties on many products, including costly electronics like televisions, game systems and computers. And they’re also safer than cash, since they can be replaced with a simple phone call – unlike cash, which is gone for good. Moreover, consumers know credit card companies will help them in the event of fraud or other misconduct.

Trust is not an easy thing to come by, often requiring years to establish. By accepting credit cards, you can begin to establish significant trust, with just a little time expended.