Over the years, and even recently, I’ve had clients tell me they want to discourage their members and customers from paying with a credit card, because of the transaction fees (typically between 3% and 5%). While I understand the desire, I think this is short-sighted, because many consumers (and companies!) WANT to pay with credit cards (because of the points they earn, easier bookkeeping, or other reasons). Discouraging one form of payment is akin to discouraging the sale itself.

The simple fact is, credit card fees are a cost of doing business. So either you can raise your prices by 3% to 5% to cover the costs, or you can just “eat” the expense as one more bit of overhead.

But the last thing you want to do is to tell a customer “I can’t let you buy that unless you send me a check.”