Card sales: is it worth it? Discover the advantages and disadvantages.

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Card sales grew 14.5% in 2018 *. In Paraná, around 60% of entrepreneurs ** accept credit or debit cards as payment.

But is selling with a card really worth it?

Depending on your market operating model, this method is not as advantageous as it seems.



How do card sales work?
Even though they accept this form of payment, many lawyer database don't know exactly how card sales work. The fees and charges often raise many questions . So, let's explain how this process works.

To sell with a card, you need to use the services of an acquirer, also known as a card operator. The contract must include all fees and amounts charged.



The most common rates are:

Machine rental: charged monthly so that the retailer can use the equipment;

Card fee: charged for each sale, which may vary depending on whether the sale is made via debit or credit;

Advance fees : charged by operators who advance payment;

Installment fee: charged on sales made in installments. This method is advantageous for consumers, but it may not be as interesting for retailers, as it implies an additional cost.



The amount of each sale is not automatically deposited into the merchant's account. Generally, the payment term for debit card transactions is 1 day. The amounts for credit card sales are deposited within 30 days. Understand how important it is to control sales in this context in order to always maintain a positive cash flow .



How to control card sales?
You can control your card sales manually, checking them one by one. Some retailers use control spreadsheets, where they record all sales made, fees charged and amounts received.

Is it possible to speed up this process? Of course! By using an automatic reconciliation system . This way, you reduce the chances of errors and dedicate your time to other activities.





After all, is it worth selling on a card or not?
At first, selling with a card seems like a great idea. But before making any decisions, consider whether this payment option is really interesting for your company.

Let's reflect a little:

Do your customers prefer to pay in cash? How many have complained that your store doesn't accept cards? What channels do you sell through?

If your customers don't mind paying with cash or bank slips, card sales can be postponed. However, if many people have already complained, then it's worth considering the public's opinion.

If you are thinking of opening an eCommerce, accepting credit and debit cards is essential, as 76% of consumers prefer to use this online payment method.