It cannot be denied that a credit card is a convenient tool for both consumers and merchants but if you put yourself in a merchant’s shoes, you will find that the credit card processing fees that he has to pay may be slowly killing him without you realizing it. Most merchants lament the fact that they are charged up to 2.5% yearly in credit card processing fees. If you deduct that from the amount your business makes, that’s probably a huge chunk that amounts to tens of thousands of dollars! So many can be done with that sum of money. Pay off your debts, take the wife and kids for a holiday… anything but hand it over blindly to the credit card processing people!

We listed ways to pay for your meals or purchases the next time you go out. If you absolutely HAVE to pay using credit card, use it sparingly – think of the poor merchant who has to feed his family!

Cash – Cash is the absolute best way to pay! Cold hard cash give merchants the revenue they desperately need – immediately.

Checks – For check payments to be process, they need to go through an awfully long process. Too much hassle for a small amount of money.

Debit cards – Debit cards are getting incredibly popular. You should opt to key in your PIN number instead of signing it off.

VISA and MasterCard – It takes a little bit more funds to process MasterCards compared to VISA. Also, did you know that it was the merchants who will pay for the reward you accumulate on the card?

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