MasterCard & Supermarkets
Card Acceptance Frequently Asked Questions
- When can I expect to see increased sales from card acceptance?
- I don't want my checkout lanes slowed down. Don't credit transactions take longer to process?
- What changes in tender mix will occur when credit is accepted?
- How should I promote card acceptance? Should I just use signage at the checkout?
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When can I expect to see increased sales from card acceptance? |
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Incremental sales start as early as day one and continue long after that! In fact, during the 24-week test period, the BehaviorScan test panel stores averaged a 2.6% increase in sales due to the acceptance of credit. Promotion, advertising, merchandising and cross-merchandising are all excellent ways to help ensure sales gains. Even if credit levels should drop during a non-promoted period, research shows that the level you fall back to will be higher than where you started out, due to the increase in your base of credit users. |
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I don't want my checkout lanes slowed down. Don't credit transactions take longer to process? |
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With today's technology, card transactions are normally processed as fast as cash and faster than cheques. |
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What changes in tender mix will occur when credit is accepted? |
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Higher-ticket credit transactions will displace cash and cheques the most; debit usage will be minimally affected. |
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How should I promote card acceptance? Should I just use signage at the checkout? |
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Incremental sales peak when promotions – supported by media and in-store merchandising – are run in support of a credit acceptance programme. 57% of the consumers who decide to use credit make their decision to purchase with a credit card before visiting the store. 16% make their decision upon arrival at the store or while shopping. These facts highlight the importance of having a comprehensive programme of promotion, advertising and in-store merchandising. |
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