Businesses adapt to growing demand for credit card payments in 2024

Credit card payments have surpassed cash payments since 2020, with more consumers using cards for transactions. Businesses are encouraged to accept credit cards to meet customer preferences and improve sales. To accept credit card payments, businesses can choose from online, in-person, or phone methods. Each method requires a payment processor, bank account, and compatible technology, with specific steps for setup. While accepting credit cards can boost sales and convenience, it also involves fees and potential risks like fraud and chargebacks. Popular payment processors include PayPal, Square, and Stripe, each offering various services.