Small Business Credit Card Processing: Is Not Accepting Credit Cards Hurting Your Business?

It is amazing how there are several businesses out there that still do not accept credit cards. Every business that sells products/services (regardless of size) should accept (all) major credit cards, especially restaurants and retail store owners.  Additionally, if you own a business that processes recurring payments or monthly subscription fees, you will need to have some form of credit card processing.

I remember wanting to place a large food order at a popular delicatessen but they did not accept credit card payments. So, I had to lose my spot on line to use their ATM. I was not too thrilled about the $2.50 ATM fee.  If I wasn’t so famished, I would have left to go to their competitor up the street.

Why won’t some businesses accept credit cards?  Some business owners immediately assume that having a credit card terminal or credit card machine will cost a fortune. In reality, they are actually losing money by not accepting credit card payments.

A decade ago, a business may have been able to squeak by without accepting credit cards. Today, there is no excuse for not providing credit card processing for your customers. Even the Girl Scouts now accepts credit card payments via iPhone. If you can buy ‘Thin Mints’ with your credit card every business should accept credit card payments.

Dispelling the Myth That Credit Card Processing Is Expensive

Contrary to popular belief, small business credit card processing is not expensive. You don’t have to spend a fortune on credit card processing. There are a few good merchant account services that charge low rates.  Depending on the credit card processing provider you choose, there is usually a low set-up fee and you can even get a free credit card terminal. Make sure you conduct a little research and compare fees so you can get the best deal possible.

When you think about the enormous population of consumers that use credit cards online and offline, you can see it’s a worthwhile investment. According to financial experts, there are approximately 609.8 million credit cards held by consumers in the United States.

It is important to realize that your consumers want to make their lives as simple as possible. Using a credit card to make a purchase automatically makes their shopping experience a breeze.   

I Have PayPal & Google Checkout Do I Still Need Credit Card Processing?

If you own an eCommerce business or you own a service based business, you should strongly consider getting credit card processing in addition to PayPal or Google Checkout. Although these online merchant services offer great payment options, not every customer you come in contact with will have (or want) to use these payment gateways. This is why having a credit card terminal or credit card processing machine is essential to the success of your business.

By the way: My favorite deli now accepts credit card payments. However, an order must be well over $10 for them to swipe your card.  They’re getting there – slowly but surely!

Feel free to contact me any time at

Leave a Reply

The Best Merchant Account

I've spent years researching and writing about different merchant services companies. Did you know that the best credit card processing company for a retail store, may not be the best merchant account for an online ecommerce store? This is why it is important to know everything so you can make an informed decision!
Do you want to know who I think the best merchant services company is for your business? Fill out the form below: