A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Why do so many places accept credit cards but not debit cards?

Best Answers

So here's the deal. All Point of Sales, Card Machines are equipped to accept both credit and debit cards. The same goes for most Payment Gateways which also support EMI, Wallets, coupons etc. read more

Places that typically do just accept credit cards are the kind of places that have lien requirements, where they are extending you a free trail for a period and need you to register your credit card so that they can make a deduction which is not possible on debit cards. read more

If not they may not have the terminal to accept it. From my experience many processors also charge a much higher rate on debit transactions in addition to per transaction fees that credit cards do not. If I were running a store I would not accept non Visa or MasterCard debit cards. read more

Credit cards offer several benefits that you don’t get with debit cards. Cards with rewards, such as cash back and travel cards, are especially costly for merchants. Those benefits only go to a subset of card users, but the store owner pays for those benefits in the form of higher fees. read more

Encyclopedia Research

Wikipedia:

Image Answers

Quote

If you want to spend more money in restaurants, use credit cards more than cash. If you want to spend less, use cash more than credit cards. But in general, we can think about how to use the pain of paying and how much of it do we want. And I think we have like a range. Credit cards have very little pain of paying, debit cards have a little bit more because you feel like today, at least it is coming out of your checking account, and cash has much more.
Source: quotemaster.org