Why more and more retailers accept credit card payments
In the Netherlands, most consumers pay with a debit card, which deducts spending directly from the linked account. The best-known example is the bank card, also known as the pinpas. Besides debit cards, there are also credit cards. With these cards, the amount spent is usually debited automatically from the linked account once a month. As credit card use is growing worldwide, it's smart to consider as a merchant whether you want to accept them.
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Why do consumers like paying by credit card?
Paying by credit card offers several benefits, which is why more people prefer this payment method. People like paying with a credit card because:
- Credit cards are accepted internationally, which makes them a convenient payment method for tourists or expats, for example.
- Purchases are usually better insured against damage, fraud or theft, for example.
- Credit cards often have a higher spending limit.
- A rewards program is linked to the card. You earn points on every purchase you make with the card. Depending on the card provider, you can use those points to buy plane tickets or movie tickets, for example, or get discounts on insurance.
What's in it for you as a merchant?
So there are clear benefits for customers, but what's in it for you as a merchant? More and more retailers accept this payment method in store. The main reason is that they don't want to lose customers and want to offer an extra service. And as the popularity grows, they don't want to fall behind.
Mastercard and Visa
At Buckaroo, you can accept credit card transactions from Mastercard, Visa or American Express (AMEX) on your payment terminal. If you want to serve your customers as well as possible, offer all three. The benefits for consumers of Visa and Mastercard are almost the same. They are two of the biggest players in the market, so they also have a lot of users. You see these payment options appearing in more and more stores. Some supermarkets even offer them.
American Express (AMEX)
AMEX has somewhat fewer users, but it belongs in this overview. The costs of using the card are a bit higher for consumers, but they get a lot in return. For example, even better purchase protection and a strong loyalty program. AMEX cards are also sometimes seen as a kind of status symbol. Think of the Platinum Card, which gives holders access to airport lounges and hotel upgrades. Sectors where AMEX is used a lot include hospitality, department stores, luxury retail, fashion, theme parks and museums. Merchants often think the transaction fees for accepting AMEX are higher than for Visa and Mastercard, but at Buckaroo these fees are almost the same (at other payment service providers (PSPs), the difference can be much bigger).
Want to enable credit card acceptance for Visa, Mastercard or AMEX on your payment terminal?
Want more information about accepting credit card payments? Contact us at commercialcare@buckaroo.nl
Want to accept online payments from Visa, Mastercard or AMEX?
This blog only covers accepting credit cards on payment terminals. It doesn't cover accepting credit cards online in online stores. Want to read more about that? Take a look at this page.
Why choose Buckaroo?
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Cost savings
We offer the cheapest rates in the Netherlands. In the long run, you are guaranteed to get the best deal with us. -
Reliability
With Buckaroo, you know your payments are secure. All our Payment terminals meet the highest security standards, including the latest encryption technology to protect data. -
Convenience
Our Payment terminals are intuitive and easy to use, both for you and your customers. No complicated processes, just quick and efficient payments.
