Every company wants more cash coming in through the door. Besides increasing sales, one of the easiest ways to boost your cash flow is to make it easiest for customers to pay. And an easy way to achieve that is by storing multiple credit cards.
Storing multiple credit cards is a win-win
Re-entering payment details every time a customer makes a purchase is inconvenient. Keeping their information on file in an online vault saves time. One click and they’re ready to pay.
Anything you can do to simplify the purchase process makes it faster for you to get paid. Storing multiple cards also offers several advantages to your customers that make it more likely they’ll buy from you.
- Let customers choose the card to maximize their bonus. Credit card companies offer rebates and rewards to active users. Keeping several cards on file lets your customers choose the card that benefits them the most when making a purchase.
- Multiple credit cards make it simple to track expenses. One of the reasons businesses like credit cards is they automatically break down expenditures on their monthly statements. For this reason, companies sometimes like to charge certain items to separate cards. For example, they may put travel expenses on one and office supplies on another.
- P-cards and departmental credit cards are becoming common. Purchasing cards (P‒cards) allow employees to buy items without the headache of submitting receipts and filing expenses. P-cards may also be assigned to certain projects or invoice types, so allowing your customer to easily select which card to charge makes it easier for them to submit payment and manage their finances.
Storing multiple credit cards offers your customers speed, convenience, and flexibility ‒ three of the things they value most. When customers can pay the way they want, the stronger your cash flow will be.