Why ALL Businesses Should Accept Card Payments

Written by Michael Foote, Insurance and Finance Expert

Michael Foote is the founder of Quote Goat and has over 13 years experience working in the finance, insurance and currency sectors. Since launching Quote Goat he has appeared on TV as well as many of the largest online publications including Forbes, The Telegraph and The Metro. Prior to Quote Goat, he worked in finance in the city for a number of firms including HSBC.

In the battle between paper and plastic, card payments have overtaken cash, which some experts predict could become pretty much obsolete over the next decade or so as we edge towards a cashless society.

But although most businesses offer customers the opportunity to pay with their credit or debit card, there’s still a surprising number out there that will still only take cash payments. Whether it’s due to a distrust in the technology or a refusal to spend money on upgrading their payment system, thousands of businesses across the UK are still yet to accept card payment.

What most of them don’t realise is they’re missing a trick by failing to offer customers the chance to pay with their card. There are all sorts of reasons why offering this additional payment option is recommended – and in the age of Covid it’s never been more important to let your customers pay with plastic. Here’s why.


If Covid’s taught us anything, it’s that personal hygiene should not be taken lightly. Since the start of the pandemic, the government have drummed into us the importance of washing our hands, as germs and droplets of the virus can be transmitted from one person to another. This has seen many businesses refuse to take cash, demanding payments be made using cards instead in an effort to help minimise transmission and keep staff and customers safe.

If you don’t currently have a card reader installed in your business, with a second wave of Covid threatening to wreak havoc if the infection rate isn’t stemmed, there’s never been a better time to get on board.

Customers peace of mind

After hearing again and again how infectious Covid is, many people now prefer not to handle cash if they can help it. Many of your customers may be reluctant to deal with you if you’re failing to offer card payment, so to avoid the potential loss of trade you should think about offering them the chance to pay with their card.


This works both ways, as offering card payment can be convenient for both you and your customers. While you won’t have to worry about taking all your money to the bank – the payments will automatically deposit in your account – your customers can avoid unnecessary trips top the cash machine if they aren’t carrying any money. Offering card payments makes life easier for everyone.

Gives you more borrowing options

If you’re looking to borrow some cash for your business, depending on your circumstances, your options could be limited. Many small businesses, especially start-ups, struggle to get approved for secured business loans as they have no collateral, while unsecured loans are usually off-limits unless you have exemplary credit history. This can see your options severely limited, but there is another type of finance that’s becoming increasingly popular: merchant cash advances.

A merchant cash advance is similar to a loan in that it’s an unsecured form of finance where you’ll receive a lump sum of cash that’s to be paid back under agreed terms. Where an MCA differs from a traditional business loan is rather than pay the same amount each month, your repayments will be based on your credit/debit card sales. As your sales increase or decrease, so will your repayments.

However, if you don’t accept card payments, you won’t be eligible for this form of borrowing, which could see your options severely restricted. So, what are you waiting for? With a whole host of reasons for why you should install a card reader in your shop, now’s the time to join the revolution and embrace technology at last!

If you’re looking to borrow and you’re considering a merchant cash advance, we compare the market for many of the best deals around. Head over to our trusted comparison page and compare merchant cash advances with Quote Goat today.