Research

23 B2B Industries Ready to Accept Payment Cards

There are good reasons for it. In the case of small business, Visa research indicates an average of $20 in cost savings for every $1000 transacted via payment cards; for medium/large businesses, an average of $24 in savings per $1,000 transacted via payment cards.¹

But some B2B industries are better suited than others to adopt card payment. Recent research into a wide range of industries identified some being more favourable for payment card acceptance. The 23 "ideal candidates" encompass close to 8,000 small and medium-sized businesses, which generate combined annual revenue of nearly $1 trillion.

By expanding their payment options, these businesses enjoy real and immediate advantages, including:

• Faster Access to Money - Forget the 30, 60 and 90-day waits for funds to arrive. With card payments with Moneris, most sales become accessible cash within 2 business days-sometimes as quickly as the next business day.*
• Reduced Collection Costs and Write-offs - Most businesses never recover the hefty costs associated with NSF cheques and delinquent payments. Lower payment processing costs
• More Convenient Payment Options - Flexibility that caters to customer preferences.
• Increased Sales Potential - More efficient transactions can enable higher sales volume.
• Less Paperwork and Better Record-Keeping.

The research speaks volumes: By expanding payment options to include Visa^® and other payment cards, the cost savings per company range from several thousand to millions of dollars. Is your company ready to seize the opportunity?

_{**To receive access to the funds within 2 business days, a Royal Bank of Canada or Bank of Montreal business bank account is required. Excludes Saskatchewan, Alberta and British Columbia.}

_{¹Visa^® Association, How Small Business Buys and Sells Research (2004); How Business Buys Research (2004). Referenced with permission.}