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Card Payments (Online (Disadvantages (Impulse buying if they later regret,…
Card Payments
Online
Advantages for customer payments
Faster- no waiting for cheques to clear
Quicker to enter card details than to travel/post cheque
Over £100 any complaints with payment
Disadvantages
Impulse buying if they later regret
need a computer
Possible chance of fraud
invasion of privacy
tendency to spend too much on credit cards
In-Store
Advantages to the store
Payments are made immediately
no wasted time with cheques that bounce or counterfeit money
faster delivery can be offered
integrates with accountancy, reduces business costs
Disadvantages
Pay commissions for payments
Stolen cards can be used and they bear the cost
expensive- costs involved
procedures to look after customer data