If you have a small business, you may not think you need to take credit cards and debit cards. Maybe you think cash is king. But, the truth is that many people no longer routinely carry cash. Additionally, there are multiple services, such as Pay Pal, that make it relatively cheap and easy for even very small time players to accept plastic as payment.
Online
If you have a website, or even just a one page web business card, there is no reason you cannot have a means to accept payment. You want to make it as easy as possible. Do not make people go looking for a means to pay for what they want. Make that part as obvious and easy as possible. Although a lot of people complain about Pay Pal and criticize it, it is a good option if only because most people have it. It no longer has a monopoly on this space. There are others, such as Stripe. But consider making it one of the options, simply because it is so common.
Mobile Payments In-Person
If you frequently are on the go or you do a lot of work at small stalls, such as farmer’s markets, PayPal and other services offer the option having an attachable card swiper on your phone or tablet to receive payment for goods or services. Some companies, like Payment Solution Pros, know that welcoming any major debit or credit card makes business easier for customers. Even in places like a farmer’s market, expecting customers to have cash is a good way to lose business. Directing them to the nearest ATM when you cannot accept their debit or credit card is a good way to make sure you never see them again. For some businesses, this translates to a high percentage of lost sales.
Actual Cash
If you are expecting to be paid in cash, you need to be able to make change. You need to have a reasonable amount and assortment of small bills and coins on hand to be able to give them the change they are due if they pay with a large bill. An easy way to do this is to have a small lock box in your car or at your stall. If you are going door-to-door, you can carry small bills and a limited number of coins in your wallet.
The customer may not always be right, but you want to make sure to shut up and take their money. It literally pays to keep the payment process as low friction as possible.