From the smallest café to the largest corporations, credit cards are an important part of everyday business. As a business owner, it’s important that you understand how credit card processing works – and what your options are when shopping for payment providers. While accepting cash payments is fundamental for many businesses, accepting credit cards is key for growth.
According to a recent survey, 30 percent of all transactions were paid with cash, suggesting the majority of consumers rely on:
- Direct credit card processing (using traditional consumer cards)
- Indirect credit card processing (via digital wallets on their smartphones)
Any business unable to effectively accept card payments in today’s world is missing out!