Electronic queues, online appointment with specialists, the ability to receive a variety of services remotely – today you will not surprise anyone with this. Speed is a fundamental factor in consumer choice.
The cashless society definition is important. Therefore, the payment behavior of the population has also changed markedly. More and more people are abandoning cash in favor of bank cards. For business, the main advantages of switching to non-cash payments are a reduction in collection costs. Especially in the presence of a large number of outlets. And there is a reduction in the functionality of cashiers when working with cash. The risk of circulation of counterfeit banknotes is also eliminated and the speed of customer service increases.
Lower crime rates
When making large purchases or transactions, you do not need to carry a large amount of cash with you. A huge plus of non-cash payments for travelers: there can be any amount of money on the card. When crossing the border, you do not need to declare it. As it necessarily happens with cash. It does not matter what currency is taken into account on the card.. The card can be used to pay in almost any country in the world, currency conversion will occur automatically. In payments industry ecosystem it’s important aspect.
International payments become much easier
The use of cash is limited to the country that issued it. The funds on the bank card account are available almost anywhere in the world and, when making a purchase or withdrawing cash, are automatically converted by the payment system into the payment currency. If there are sources of income in different currencies, it makes sense to issue cards in different currencies and, as a result, further reduce conversion costs.
Having accustomed yourself to make purchases mainly using a card, you get the opportunity to analyze your expenses using monthly card statements, as well as Internet information systems for banks (Telebank, Teleinfo, etc.).
Analysis of the purchases made allows you to identify key items of expenditure and, if necessary, consciously limit them.
Payment for purchases by card is actually your order to the bank to pay for the goods from your account. If the service is not provided, or the product is not of high quality, it is possible to cancel the payment in the store. And in case of an unjustified refusal to make a refund, protest the payment and still return the funds back to the card. In this case, the card issuing bank may join the analysis of the incident and defend your interests if the claims are justified.
Check with your issuing bank about the rules it applies for resolving disputes between bank card holders and trade and service companies.
Serve more customers
It often happens that fate provides an opportunity to make a profitable and necessary purchase here and now, but there is not enough cash. Having a credit card can help make the purchase go through. However, one should beware of an excessive propensity for spontaneous purchases, because if they lose control, they can make a hole in the family budget.
Bank cards are ideal for making purchases by mail, phone or the Internet. It is recommended to use reliable providers to pay for services. The use of the Verified by Visa and MasterCard SecureCode system significantly increases the security of using the card on the Internet. When using virtual cards, the accounts remain empty until the purchase is made. Before the need to make a payment, virtual cards are replenished with funds through the Internet banking system of the issuing bank and spent, after which they remain empty again. Such a simple procedure allows you to save funds on the card even in the event of a data leak.
All over the world, having a credit card is an indicator of your good financial position, and a premium card is an indicator of the status and seriousness of your attitude towards non-cash payments using cards. Knowing the peculiarities of the ability to pay and the propensity of cardholders to make significant purchases, many companies provide discounts to holders of premium cards.
Automatic paper trails
Having a card, you can not carry large amounts of cash with you, but at the same time always be able to make the necessary purchase. Most of the retailers focused on providing quality customer service already accept cards. Unfortunately, some of those enterprises in which we would gladly pay by card still do not accept them. This is often due to the underestimation of the reality by the management of the stores. Feedback from buyers is of great importance. If we all write our wishes in the store reviews book, so that the cards begin to be accepted, the management will go to meet us. Of course there are cashless society pros and cons, but benefits are more numerous.