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The top 4 reasons that it is a good idea not to accept online credit card payments:
1- Risk for Identity Theft - When people put their vital and personal information out there via online websites the odds of their identity being stolen increase. This is especially true when they provide credit card information to websites in the course of a purchase. The potential for them to have that credit card information stolen increases. It could be a bad thing if your company is tied in any way to identity theft or credit card fraud.
2- Charge Backs - Charge backs were intended to protect the consumer from fraud, but dishonest consumers have learned a new use that is not good. They premeditatedly purchase your products and then call the credit card company claiming that they never received them. This practice will usually leave your company paying the bill for their acts. The reason this is the case is because the burden of proof lies with the business, not the consumer. This, in most cases, is simply not worth the time and effort.
3- Moral Issues with Credit Cards - Some business owners are morally opposed to credit cards because they know that many people use them unwisely and spend well beyond their means to repay. This knowledge can cause a business owner who feels this way some great concern when they accept credit card payments.
4- Fees Associated with Credit Card Processing - Most people do not realize that there are fees to the business every time a credit card is used as the payment method. For the business owner, this means that they lose little bit of money that would be theirs in a cash purchase on each credit card transaction.
Top 4 Reasons You Should Accept Online Credit Card Payments:
1- Increased Sales - Studies show lots of things about credit card purchases, including the fact that people spend more per transaction than when they use cash. If a business does not accept credit cards online, they are hurting their sales.
2- Security for Customers - Many consumers are already a bit nervous about purchasing things on the internet. They do not walk out of a store with the product that they just purchased. When they use a credit card, they will fill more secure because they know that they have some recourse to get their money back if they never receive the product that they paid for.
3- More Accessible to More People - By accepting credit cards for payment, you are making your product more accessible to more people because people can purchase things with a credit card that they would not be able to afford otherwise.
4- Predominant Payment Method of Today's Society - Credit cards are the payment method of choice for most Americans. If a business refuses to accept that form of payment, then quite simply they will lose out on a lot of business.
1- Risk for Identity Theft - When people put their vital and personal information out there via online websites the odds of their identity being stolen increase. This is especially true when they provide credit card information to websites in the course of a purchase. The potential for them to have that credit card information stolen increases. It could be a bad thing if your company is tied in any way to identity theft or credit card fraud.
2- Charge Backs - Charge backs were intended to protect the consumer from fraud, but dishonest consumers have learned a new use that is not good. They premeditatedly purchase your products and then call the credit card company claiming that they never received them. This practice will usually leave your company paying the bill for their acts. The reason this is the case is because the burden of proof lies with the business, not the consumer. This, in most cases, is simply not worth the time and effort.
3- Moral Issues with Credit Cards - Some business owners are morally opposed to credit cards because they know that many people use them unwisely and spend well beyond their means to repay. This knowledge can cause a business owner who feels this way some great concern when they accept credit card payments.
4- Fees Associated with Credit Card Processing - Most people do not realize that there are fees to the business every time a credit card is used as the payment method. For the business owner, this means that they lose little bit of money that would be theirs in a cash purchase on each credit card transaction.
Top 4 Reasons You Should Accept Online Credit Card Payments:
1- Increased Sales - Studies show lots of things about credit card purchases, including the fact that people spend more per transaction than when they use cash. If a business does not accept credit cards online, they are hurting their sales.
2- Security for Customers - Many consumers are already a bit nervous about purchasing things on the internet. They do not walk out of a store with the product that they just purchased. When they use a credit card, they will fill more secure because they know that they have some recourse to get their money back if they never receive the product that they paid for.
3- More Accessible to More People - By accepting credit cards for payment, you are making your product more accessible to more people because people can purchase things with a credit card that they would not be able to afford otherwise.
4- Predominant Payment Method of Today's Society - Credit cards are the payment method of choice for most Americans. If a business refuses to accept that form of payment, then quite simply they will lose out on a lot of business.
About the Author:
It is a wise business move to accept credit cards online. For those businesses who own a website and own not been accepting credit cards on their sites, you should see an increase in sales when you start to accept credit card payments on your website. Just remember that the easier you make it for your customers to pay, the more likely they will buy from you.
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