Types Of Payment For Busniesses!
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At our store we will accepted these forms of payments: cash, debit, check, and major credit cards such as; Visa, Master Card, Discover Card, American Express or any credit card with the star logo on it. We will also offer customers the chance to purchase gift cards. Products purchased via internet, well accept debit, credit or by paypal. You will also be able to use your gift cards for online purchases.
Cash is the preferred payment. Advantages of using cash, is that everything is paid in full at time of purchase. The disadvantages that we could face would be counterfeit money. Our staff will be trained to examine and mark each bill to ensure they are in fact not counterfeit.
Credit cards are widely used and our also viewed as a safe form of payment. We will only accept credit cards that are accompanied with proper identification. Disadvantages of excepting credit cards it that may be stolen. To keep our customers safe from identity theft we will not accept any credit cards without proper identification.
Debit cards is one of the most used forms of purchasing in the U.S. “The number of cards in use more than doubled from 173 million in1990 to more than 400 million in 2001.” (Ebert & Griffen, 2005, c.14, p. 437) Using a debit card for purchasing is kind of like using cash, its a guaranteed payment. When you pay with the debit card it takes the money right out of your bank account. If you do not have enough money in you bank account then you the customer will have to pay your bank the overdraft fee.
Checks are very risky for business owners, because of fraudulent use. That is why we will have all checks go through what is called electronic check processing. This ensures that there are no bad checks being written. Electronic check processing takes money right out of your bank account just like using a debit card. Identification will also be checked to avoid any identity theft.