Accept Credit Cards

The term we accept credit cards is one we are all familiar with and have encountered on countless occasions at a variety of supermarkets, restaurants, grocery stores and many other merchant outlets.

These notices are generally supplemented with Visa/Master card logos etc., You'll also find that even street market stands are now accepting credit cards. The benefit of course, of accepting credit cards is two-fold. From the merchants' point of view, accepting credit card payments mean the transaction is often more secure than other forms of payment such as cheques, owing to the fact that the issuing bank commits to pay the merchant immediately the transaction is verified.

The birth of the credit card has transformed our lives, as well as the world of business to a remarkable extent and at a very fast pace. It wasn't so long ago that there were just a few shops and businesses that could or would accept credit cards. Yet today, we see that not only are they open to accept credit cards, in many instances you will find that the larger retail chain outlets are also supplying credit cards. The perks from many of these cards can vary but in general may entitle you to discounts when you use them at any of that store's retail chain.

Along with the ever increasing circulation of credit cards, more and more people are opting for both the safety and convenience that is offered to them by credit card usage. This enables them to carry little to no cash at all on their person.

The downside for many small shops that do not accept credit cards is that customers who no longer carry cash around, will move onto shops displaying the 'we accept credit cards' statement. By not accepting credit cards, these outlets are potentially losing customers. It is this awareness that has seen the majority of of shops and stores today making the shift to accepting credit cards.

Accepting Credit Card Payments Online

In much the same way that we have witnessed the evolution of the credit card, the same is true of the Internet. The credit card industry have been quick to capitalise on this direction, resulting in the growing ecommerce and e-shop trends. The 'we accept credit cards' logo has now taken Internet shopping by storm.

As is the case in the off-line world, nearly every single online- shop now accept credit card payments; whether directly or indirectly, their very survival depend on doing so. What is evident, is that this is the premise on which the Internet online-business industry has been based and represent convenience at its very best.

Credit Card - Fraud Online

Fraud is a huge issue with nearly every financial mechanism or process and credit card fraud online is no exception. In fact, shops and stores are not the only ones making the statement 'we accept credit cards'. Credit card fraudsters scamsters employ a wide variety of techniques to commit fraudulent acts.

Here are just some of the ways they go about doing this:

  • In some instances, credit card fraudsters are even disguising themselves as online merchants who are claiming to 'accept credit card payments. In reality, the real motive is to extract from your card, critical credit card data.

  • Another example of credit card fraud may involve the stores' or merchants' 'rogue' employees, who either clone or elicit critical information from customers' credit cards. This information is then abused by way of using them online to make fraudulent purchases.

  • Other credit card fraud involve conning innocent people into divulging their card details in places such as chat rooms, while other sophisticated fraudsters use computer software programs and other devices - known as spyware, to spy on people who use their credit cards to make online payments. Again, these devices work by capturing customers' credit card details which are then transmitted to the spy - using the Internet.

  • As you can see, while very many merchants and service providers do accept credit cards, bear in mind that fraudsters too are in the business of welcoming/accepting credit cards. Be diligent and remain aware that whether on or offline, you need to be careful when it comes to your credit card.

    The content on this site is purely for information purposes only and is not intended to replace your seeking professional financial advice

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