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If your company acceptscreditcardpayments ( which it should ), chances are, you’re going to be affected by Visa’s interchange rates. Visa is one of the biggest payment networks in the world, with ~4.2B cards currently in use. So it’s virtually impossible for a business to not accept Visa cards.
You could think about how in that Chase app you could make it easier to acceptcreditcardpayments right away. Because before the deal closes you’re negotiating for what’s the purchase price, what are the performance targets as they relate to retention agreements.
When each customer’s contract expires, their card is automatically charged, and access to the product or service continues uninterrupted. Automatic renewals prevent forgotten payments, which helps improve retention and combat customer churn. Analytics tools to track data and help optimize everything from pricing to retention.
Acceptingcreditcardpayments at your business is a surefire way of increasing customer satisfaction and retention. Over 80% of American adults owned at least one creditcard in 2023. Also, creditcards contributed to 27% of the spending at point-of-sale (POS) systems worldwide.
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