How Do Businesses Profit From Debit Cards?

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Businesses profit more from debit cards because they get paid quicker, there is a broader pool of potential candidates, and there are no problems with bounced checks. Consider using debit cards to make a quicker profit with information from a portfolio manager in this free video on business strategies.

Part of the Video Series: Business Strategies
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Video Transcript

Are you considering accepting debit cards for payment of services, or a product that you've sold to others? Hi, this is Roger Groh, of Groh Asset Management. Why do it? Well, pretty simply, you get paid quicker. Also, you end up with a broader pool of potential candidates, for your product or services. In this debt laden society, we've all gotten very used to doing that. Last, but not least, you won't have the problems with check returns, or delays in payment. You get paid, and you get paid quick. Might you issue a debit card as a corporation, or a group? Sure, why not? It helps with your corporate branding. Think, when you walk into Safeway, and you see the racks full of debit cards, and affinity cards, well, for the most part, they've hired third parties to help them do that, and all that happens, is your logo gets out there, and then the profits are split between the two companies, the company actually managing the product, and you, so it seems like a win-win, all the way across the board. Hope that helps. I'm Roger Groh, with Groh Asset. Thank you very much for spending time with me.


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