Why Should Manufacturers Accept Credit and Debit Cards?
Not long ago, the thought of manufacturers and similar companies in the Business to Business (or B2B) segment making payments to and receiving payments from each other using credit and/or debit cards was almost unheard of. In recent years, though, the use of credit and debit cards has become more common in virtually all industries, including manufacturing and B2B.
The benefits to manufacturers of accepting credit and debit card payments from other businesses include:
Accelerated receivables and improved cash flow - When a customer pays an invoice with a card, you receive the funds next-day1.
Greater processing efficiency and lower costs - With our online reporting tool, your accounting staff has access to a broad range of reports and can spend less time reconciling invoices to payments that might not arrive for weeks or even months.
Lower rates and fees - We'll work with you to develop effective programs to process cards in an efficient and cost effective manner.
1 Next-day funding on card transactions processed by PNC Merchant Services when deposited into your PNC Bank business checking account.