Pros & Cons of Credit Card Processing
Like any other business, there are advantages and disadvantages to accepting credit cards. We have included both so you can make an informed decision
on if your business should sign up for merchant services. Regardless of the cost you incur, you will
see that the benefits outweigh the negatives.
Merchant Account Pros
Merchant Account Cons
- Increased Sales - credit card orders are generally larger in nature than cash & check orders.
- Faster Checkout - speed up your checkout line as it is much quicker to accept a credit card payment.
- Cheaper than Cash - due to the larger order amounts, it can be cheaper to accept credit cards then cash.
- More Security - You have more security problems when dealing with cash. You must deal with large amounts of money in the drawer and the possibility of employees giving out the wrong change amount.
- More Choices - by giving your customers as many payment options as possible, you have a smaller chance of losing the sale.
Credit Card Processing Articles
- Cost - like every other cost a business incurs, there is one when you accept credit cards. You can simply look at it as a cost of doing business.
- Fraud - Internet / Keyed in merchants are more prone to receiving fraud, but it is one thing that you must deal with when accepting credit cards.
- Chargebacks - since you are dealing with credit cards, you must abide by the rules of Visa & MasterCard. Therefore, consumers are more protected
when paying with a credit card and can often at times win against a merchant when they dispute a charge.
Merchant Accounts |
Credit Card Logos |
- Why Should you Accept Credit Cards?
- The Different Types of Merchant Accounts
- How to Avoid Credit Card Processing Downgrades
- Merchant Account Responsibilities
- The Different Types of Credit Card Machines
- What is a Merchant Account?
- Why Avoid Credit Card Terminal Leases?
- 3 Ways to Save Money on Credit Card Processing
- Credit Card Processing Checklist
- Pros & Cons of Credit Card Processing
- What to Expect in Your Monthly Statement
- The History of Credit Card Processing
- Recent History & Future of Credit Card Processing
- The Different Organizations of Merchant Services
- The Glory Details of Disputes, Retrievals & Chargebacks
- Understand All the Risk with Merchant Services
- Factors & Guidelines to Merchant Service Underwriting
- The Life Cycle of a Credit Card Transaction
Merchant Account Articles |
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