I don’t know if this is true, but I’ve heard Visa and other card compabies can sometimes be expensive and difficult to small businesses. Is there something else one could use that’s not cash that would be better?
Cash, cash is very friendly
But what if you want them to pay their taxes?
Pay with a debit card. That way, just like Amazon, they will definitely pinky promise pay their taxes.
I’d be more concerned if a corporation was not paying their taxes.
CC can take a good percentage on orders, as much as 6% I’ve heard 8% on super high premium cards like Amex, don’t know if it’s true
Debit card is usually the best way for small businesses.
If your CC has a 1-2% cashback incentive, it’s not because Visa or MC really likes you. The money comes has to come from somewhere.
Some local businesses around me just stopped accepting CC altogether
I like this take. Payment processors provide a service to both customers and businesses and should get paid, but, the MBA crowd never stops short of anything they COULD get, so they gamify consumers (rewards) and threaten business (nice revenue stream, would be shame if anything happened to it). As a layman l, that’s how I see it. Someone in biz can probably give better detail.
Interesting. Businesses by me increasingly only accept cards, no cash.
Are you talking about accepting payment, or a card for use as a company spending account? I think most answers so far are assuming you’re talking about accepting a card type as payment for your goods and/or services.
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Unfortunatly not really. The PCI counsel is made up of (5?) major issuing banks that set the ground rules for accepting payment card transactions. There are however tiers to vendors based on their volume of transactions that dictate the fees and the requirements as far as their compliance.
https://www.pcisecuritystandards.org/documents/PCI_DSS-QRG-v3_2_1.pdf
Source: used to work for a pci/dss compliance security company mostly targeting small businesses.
Monero… Or cash
