Benefits of Accepting Cards: Lower Costs

Debit and credit cards help merchants save money.

Accepting cards saves merchants on the costs associated with accepting paper checks.

According to a study from the Food Marketing Institute, worthless checks amounted to a median loss of $284,124 per member in 2006.

Click here for the study by the Food Marketing Institute, called “2007 Supermarket Security & Loss Prevention"

Studies have shown that accepting credit and debit cards also saves merchants money on other costs associated with paper payments.

RPMG Research has concluded that companies save approximately $23 billion annually by shifting from paper to electronic payments »

The U.S. government has recognized significant savings from accepting cards.

“Electronic payment networks have the potential to provide cost savings of at least one percent of GDP annually over paper-based systems.”

The U.S. International Trade Administration, March 2008 »

“[Benefits of accepting cards include] the ability to make purchases more quickly and with lower administrative costs than with previously used purchasing methods.”

GAO Report, “Credit and Debit Cards,” May 2008 »

With all of these savings, it’s only fair that merchants pay a slight cost in exchange.