Points, miles, cash back, and rewards. These words dominate the credit card marketing world. If you’re like most of us, they also dominate how you choose to spend your money.
Every time a consumer makes a purchase, they make a deliberate choice to pull out a specific method of payment from their wallet – whether it be cash, check, or credit card. If they use a credit card, they’re going to choose the card that rewards them the most, or has the most room left to spend. This is the same decision making that bidders will use at your auction.
That’s why qCheck Payment Processing will always accept any major credit card (including Diner’s Club). We understand the importance of enabling events to accept any card a guest wants to use.
The motivation for writing this entry came after hearing that a few clients choose not to accept American Express because it carries a 0.40% higher transaction fee. We urge these clients to reconsider their decision to force their AMEX carrying patrons to use an alternate credit card.
Stifling the bidding power of your AMEX guests for less than one-half of one-percent of a savings isn’t a savings at all. In fact, it’s costing you much more than you might think.
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