The best way to learn if credit card processing is right for your business is to weigh the pros and cons. Here’s what you need to know if you’re on the fence about opening a merchant account.
Consumers prefer credit, debit, and digital payment methods
According to the Federal Reserve Bank of Atlanta, “93% of U.S. consumers 18 and older” have a debit or credit card. It said people “rate cards highly for convenience.” Credit and debit cards are easier to carry and use and allow for control over payment timing. Indeed, the Federal Reserve Bank of Atlanta stated, “In every year from 2015 to 2021, credit and debit cards were ranked first and second for convenience compared to other payment methods.”
