Business owners often find the process of accepting credit cards confusing, so we thought we’d debunk some of the common misconceptions people have about credit card processing. Are you wondering whether your business should start accepting credit cards? Here are some facts about credit card processing.
Myth #1: Accepting credit cards costs too much.
Fact: While there are costs associated with accepting credit cards, your business may lose even more money if you don’t accept card payments. Credit and debit payments offer many benefits, such as improved cash flow and higher sales. Given that the total value of credit card transactions in Canada reached $615 billion dollars in 2019 alone, it’s clear that you’re missing out on revenue if you don’t accept credit cards.
