The Pros and Cons of Accepting Credit Cards

If your business is considering various forms of payment, like accepting credit cards, you’ll want to consider the pros and cons of these payments. Accepting card payments expands purchasing options for your customers, but can also add extra bookkeeping work and credit card processing rates to your overhead. Keep reading for a comprehensive list of pros and cons.


Cards, Cards, Everywhere a Card

Credit and debit cards are the most commonly used form of payment today. In fact only 27 percent of all POS purchases were made with cash, and that number is expected to get smaller and smaller. Simply stated, customers make more purchases with payment cards, and they expect to be able to use them wherever they go.

Easier Than Ever

It’s also easier than ever before to accept card payments. Online payment gateways have opened the door to easier options for taking credit cards. All kinds of vendors, from traditional brick and mortar shops to pop up and mobile markets, can accept and process credit card purchases.

Increase Your Sales

It’s a simple fact that people don’t carry large amounts of cash. If a customer walks into your business and can’t make a purchase because you don’t accept cards, you’ll most likely lose that sale. Offering card payment options increases impulse buys.



Accepting credit cards means that you’ll also take on extra expenses to operate your business. Most payment gateways require initial set up fees as well as additional credit card processing rates. While these fees are fairly small, over time they can add up and eat away at your profits

Extra Work

Adding card payment options also means extra bookkeeping. You’ll need to develop and implement a strategy to track and balance all of your card payments, credit card processing rates, and other fees associated with merchant accounts and payment gateways.

Fraud and Security

Finally, adding credit and debit card payment options increase the risk of fraud and other security issues. Credit cards are easily stolen and accepting them increases the chance of fraudulent card use. Card payment gateways facilitate the communication of sensitive personal and financial data. If this information isn’t safeguarded by solid security features, it can be compromised.

To Charge or Not to Charge

Ultimately, choosing whether or not to accept card payment options is an important decision. In the modern world, customers carry less cash than they used to and rely on credit and debit cards for everyday purchases both big and small. If you want your business to grow and thrive you simply need to add a card payment option.

We Can Help

Allied Wallet proudly offers a range of payment services designed to meet your business’ needs. Whether you’re an independent store or a large chain, we have credit and debit card processing options for you. We offer highly secure payment options with low credit card processing rates. Call today to begin accepting safe and secure credit card payments.

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