Whether to accept credit card payments is an important decision for every small or medium-sized business (SMB). More than 80% of shoppers prefer to pay with cards rather than cash, and expanding your payment options increases your revenue potential. Accepting credit card payments also changes how revenue moves, how risk is managed, and how easily your business can expand across channels and borders.

Below, we’ll explain how and why SMBs accept credit card payments, which payment methods and card networks matter most, the fees involved, and what changes as volume increases.

What’s in this article?

• What does it mean to accept credit card payments for small businesses?
  
• Why is it beneficial for SMBs to accept credit card payments?
  
• What card payment methods should SMBs support?
  
• How do credit card payments work in practice?
  
• What tools do SMBs need to accept cards?
  
• What costs come with accepting credit card payments?
  
• What do SMBs need to know about maintaining card payments?
  
• How can SMBs optimize credit card payments as they grow?
  
• How Stripe Payments can help
  

What does it mean to accept credit card payments for small businesses?

Accepting credit card payments means your business is plugged into the card system that moves money from a customer’s bank to yours, whether that purchase happens in person or online.

Why is it beneficial for SMBs to accept credit card payments?

The ability to pay by card can determine where and how customers buy across regions, channels, and price points.

Here are some reasons it makes sense for SMBs to accept card payments:

• Customer expectations: In many countries with low cash use, cards dominate. Many customers might no longer carry cash.

• Higher spend: Customers tend to spend more when they aren’t limited by the cash in their wallets.

• Access to online and remote sales: Ecommerce, mobile ordering, and subscriptions all typically rely on card payments.

• Staying competitive: Businesses that don’t accept cards risk losing customers to competitors that offer faster, more flexible checkout experiences.

• Financial efficiency: Card payments create automatic transaction records, simplify reconciliation, and reduce the risks associated with handling cash.

• Trust and legitimacy: Displaying card acceptance signals that a business meets modern security and compliance standards. That credibility matters, especially for new customers and online transactions where trust must be established quickly.

What card payment methods should SMBs support?

It is generally advisable that SMBs support as many payment methods as possible. The goal is to offer the payment methods customers use across channels and regions.

Here are the main card payment methods SMBs should consider supporting.

Credit and debit cards

Many customers carry both credit and debit cards, so it makes sense to accept them. While they draw from different funding sources, the immediate experience for the business is largely the same once payments are properly configured. SMBs likely want to support Europay, Visa, and Mastercard (EMV) payments, which are chip-based, as well as contactless tap to pay and magnetic stripe as a fallback.

If offering credit and debit cards, Visa and Mastercard should be considered mandatory card networks, because they account for the majority of global card transactions and work reliably across borders. American Express and Discover are also widely used in some places and can matter for specific customer segments or regions, especially for business and higher-value purchases.

Contactless and digital wallets

Chip and contactless payments are now global standards for security and speed, and they reduce fraud risk compared to swipe-only transactions. Tap to pay cards and digital wallets such as Apple Pay and Google Pay are now common in many markets too. These payments use the same card networks but add extra layers of security and convenience, especially for fast-moving checkout environments.

Online payments

Businesses might need secure online card acceptance for ecommerce, subscriptions, invoicing, and remote checkout. This includes support for card entry, saved payment methods, and modern authentication tools to reduce fraud and failed payments.

On-the-go payments

SMBs that sell outside a fixed location benefit from mobile card readers that pair with phones or tablets. These allow businesses to accept cards anywhere with a network connection, without changing how transactions are processed.

International transactions

Businesses with global customers need to support foreign-issued cards and multiple currencies. Localizing payment acceptance reduces friction for international buyers.

How do credit card payments work in practice?

A card payment is a coordinated exchange between banks, card networks, and payment infrastructure.

Here’s how credit card payments work:

• Payment initiation: The process starts when a customer taps, inserts, swipes, or enters their card details. That action sends the transaction data into your payment system.

• Authorization: The transaction is routed through the card processor, the acquiring bank, and the card network to the customer’s issuing bank. The bank checks whether the card is valid and the funds are available, and approves or declines the charge.

• Authentication: Additional checks can occur, such as verifying a billing address, card verification value (CVV), personal identification number (PIN), or identity authentication for online payments. These checks are meant to reduce fraud.

• Clearing and settlement: Approved transactions are grouped and sent for settlement. Funds move from the issuing bank, through the card network, to your acquiring bank or payment provider, into your business account.

• Fees and reconciliation: Processing fees are deducted before funds are deposited. Transaction records and reports allow your business to reconcile sales, fees, and payouts without manual tracking.

• Exceptions and disputes: If a customer later disputes a charge, the card networks manage the chargeback process. You can respond with evidence to recover funds when the transaction was valid.

What tools do SMBs need to accept cards?

Accepting credit cards requires the right combination of software, payment infrastructure, and potentially hardware if an SMB wants to accept cards in person.

Here are the tools businesses need to accept card payments.

Payment processor and gateway

Every SMB needs a provider that connects it to card networks, handles authorization and settlement, and deposits funds into a business bank account. A secure payment gateway captures card details online and sends them to the payment processor. Gateways typically handle encryption, tokenization, and compliance so businesses don’t need to store or manage sensitive card data themselves. Many modern providers bundle a gateway, processing, compliance, and reporting into a single platform, which reduces setup time and ongoing maintenance.

Point-of-sale (POS) software

POS software manages checkout, totals, taxes, and receipts while integrating directly with card readers for in-person transactions. Depending on the business, this can also support inventory tracking, refunds, and basic customer management.

Terminal payment hardware

Physical payments require terminal hardware that supports chip, contactless, or swipe transactions. Modern terminals often connect via Wi-Fi or cellular networks and are designed to meet global EMV security standards. Mobile card readers paired with phones or tablets enable full card acceptance without fixed checkout stations. These tools are especially useful for service businesses, pop-ups, and field sales.

Reporting dashboards

Payment tools should include clear visibility into transactions, payouts, fees, and disputes. Strong reporting reduces reconciliation effort and supports better financial decision-making.

What costs come with accepting credit card payments?

Understanding how credit card fees work makes it easier to price confidently, forecast cash flow, and avoid unpleasant surprises. Many card payments are priced as a percentage of the sale plus a fixed amount per transaction. The exact cost varies based on card type, transaction method, and risk profile.

These are some of the fees and charges businesses need to understand:

• Payment provider fees: Payment providers charge payment processor and gateway fees. These fees vary in amount depending on the provider, business size, and agreement between parties.

• Interchange fees: Interchange is a fee paid to the customer’s issuing bank. These rates are set by card networks and vary by card type, the business’s industry, and how the transaction is processed (e.g., swipe versus EMV chip).

• Assessment fees: Card networks charge additional fees for routing transactions through their systems. These tend to be small but can vary.

When a business works with a payment processor, the fees above might be rolled into one charge. This margin is bundled differently depending on the processor’s pricing model.

These are the main types of processor pricing:

• Flat-rate pricing: A single, predictable rate applies to all transactions, regardless of card type. This model is simple and easy to forecast, which makes it popular with small or growing businesses.

• Interchange-plus pricing: Each transaction is charged at actual interchange cost plus a fixed markup. This model is more transparent and can be more cost-effective at higher volumes.

• Subscription or blended models: Some pricing structures combine a monthly fee with lower per-transaction costs. These models can reduce overall fees for businesses processing high volumes.

Businesses can also encounter chargeback fees, currency conversion fees, instant payout fees, or hardware costs. Reviewing statements regularly helps ensure fees match expectations.

What do SMBs need to know about maintaining card payments?

Once card payments are live, the work shifts from setup to maintenance.

Here’s how SMBs can keep payments secure and reliable:

• Security and compliance: Businesses are responsible for meeting payment security standards, including Payment Card Industry (PCI) requirements. Using modern payment providers minimizes risk and reduces the need to handle sensitive card data directly.

• Fraud risk: Card payments come with exposure to fraud, especially for online and remote transactions. Using fraud tools, authentication, and transaction monitoring help prevent losses without hurting conversion.

• Chargebacks and disputes: Customers can dispute charges, which starts a formal process managed by card networks. Keep clear receipts and delivery confirmation, and respond promptly.

• Cash flow timing: Understanding payout schedules helps businesses cover expenses and avoid short-term cash gaps.

• Customer experience: Payment speed, reliability, and clarity are important for customers. Slow checkouts, confusing receipts, or declined payments can undermine otherwise strong products or services.

• Process consistency: Staff need to know how to handle card payments, refunds, and edge cases correctly. Small process gaps can create avoidable risk.

How can SMBs optimize credit card payments as they grow?

Payment systems should get cheaper and more resilient as a business’s transaction volume grows. Optimization is about polishing what already works.

Here are some best practices SMBs can follow:

• Revisit pricing as volume scales: Higher transaction volume can justify lower rates or different pricing models. Periodic reviews help ensure fees stay tied to business size and margins.

• Unify online and in-person payments: A single system across channels simplifies reporting, reconciliation, and customer support. It also creates a clearer picture of how customers buy.

• Strengthen fraud controls with growth: As transaction counts rise, automated fraud detection becomes more important. Smarter tools reduce losses without slowing checkout.

• Prioritize reliability and uptime: Payments should never be an obstacle. Infrastructure that scales globally and handles peak demand protects revenue during growth periods.

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