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Increase sales by giving customers flexible payment options.
General purpose credit cards are cards issued by financial institutions or other financial service providers that access pre-approved lines of credit. They are often called "general purpose" credit cards or "bank cards" because they are not limited to use in a specific store. When a customer pays with a credit card, the cardholder's signature is used for identification and the transaction is authorized against the available credit line in the cardholder's account.
| The Solution |
Our credit card payment processing services are the most comprehensive available, providing everything a retailer needs to accept MasterCard®, Visa®, American Express®, Discover®, Diners Club®, and JCB® cards. Our swipe-to-settlement services include: |
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- Point of sale equipment sale or leasing
- Support for all well-known terminal and electronic register manufacturers
- Sponsorship into all credit card associations
- Front-end credit transaction authorization and data capture
- Credit transaction settlement between the credit card associations and the retailer
- Funds movement between the credit card associations and the retailer
- Online access and reporting
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| Card Acceptance Outlook |
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The convenience that consumers have come to expect in all aspects of their lives is perhaps most evident in the continued growth in credit cards. |
In 1999, there were over 525 million general purpose credit cards in the U.S. , up from 425 million cards in 1995. By 2005, there are expected to be over 600 million general purpose credit cards, with a total of $125 billion charged each month. ( Source: The Nilson Report) |
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| Benefits |
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Clearly, the opportunities for retailers are enormous, and there is a growing imperative for retailers of all types and sizes to accept credit cards for purchases at their stores. Benefits of accepting credit cards for payment at the point-of-sale include:
- Enhanced customer convenience and increased satisfaction
- Increased sales due to higher average ticket size (compared to cash or checks) and higher incidences of impulse purchasing
- Improved competitiveness with other retailers
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