How to accept credit cards for your small business

[Chibson]

The virtual card I am talking about is from palm pay. I wish this would be a breakthrough for us to start having credit cards in Nigeria

of course Palmpay is a fintech company and they are leading the way. A time will come a lot of commercial banks will follow suit.

 

[Niyi Briggs]

of course Palmpay is a fintech company and they are leading the way. A time will come a lot of commercial banks will follow suit.

I still don't think that my country is ready for a credit system. Our people still get online loans and refuse to pay back because they can't be fished out.

 

[Heatman]

Credit cards are used in advanced countries on the basis of buy now and pay later. You can shop with it even if you don't have money.

A lot of people abuse the use of credit card in my country and is the reason why most bank don't offer it to their customers today.

 

[Chibson]

I still don't think that my country is ready for a credit system. Our people still get online loans and refuse to pay back because they can't be fished out.

Lol, it is funny that people will take loan and refused to pay back. That is actually very bad in my perspective because it will discourage so many loan companies. Some of the companies are also ridiculous because the interest is so high.

 

[IB D]

A lot of people abuse the use of credit card in my country and is the reason why most bank don't offer it to their customers today.

Try this in our Nigeria and that bank would run bankrupt in a matter of days. We don't have a database to track people. We don't have what it takes to even repay the debts.

 

[Shavkat]

I am sorry to say that my online business does not have this option. The third-party usually asked the seller to set their payment system as cash-on-delivery or COD, which is common in my country at present.

 

[Yohanna]

It is very important to accept credit cards for your business because it makes it much more better and lucrative.

 

[Niyi Briggs]

Lol, it is funny that people will take loan and refused to pay back. That is actually very bad in my perspective because it will discourage so many loan companies. Some of the companies are also ridiculous because the interest is so high.

It is not by force to take loans from these companies when you have seen the interest rate. But anything that makes you take the loan, you are under obligation to pay back.

 

[Heatman]

Lol, it is funny that people will take loan and refused to pay back. That is actually very bad in my perspective because it will discourage so many loan companies. Some of the companies are also ridiculous because the interest is so high.

It is something that is very common with so many loan app that is existing in my country today because a lot of people are taking advantage of it and not paying back what they borrowed.

 

[Niyi Briggs]

That is why Nigeria would take a really long time to develop a credit system. The people have to change their mindset about all these exploitative tendencies.

It is something that is very common with so many loan app that is existing in my country today because a lot of people are taking advantage of it and not paying back what they borrowed.

 

[flower]

Accepting credit card for business is one of the ways to attract the customers.

 

[Reedex]

You can definitely accept a credit card for your business because it's a way to improve on services.

 

[Chibson]

Try this in our Nigeria and that bank would run bankrupt in a matter of days. We don't have a database to track people. We don't have what it takes to even repay the debts.

Well, there are some fintech companies that offer such options and some people actually meet up with it. It is not only in Nigeria that people default debts even though it is bad.

 

[IB D]

The only fintech that has it in Nigeria is Palmpay. Go and do your research and prove me wrong. They only offer it to customers that have borrowed from them and have shown good character in paying their debts.

Well, there are some fintech companies that offer such options and some people actually meet up with it. It is not only in Nigeria that people default debts even though it is bad.

 

[Reedex]

Accepting credit card is a very important thing that must be done for a business because it will improve productivity.

 

[IB D]

We are just hoping our country would develop to a point that we would have a viable credit system. But people in my country are calling credit cards a slavery kind of life.

 

[Chibson]

The only fintech that has it in Nigeria is Palmpay. Go and do your research and prove me wrong. They only offer it to customers that have borrowed from them and have shown good character in paying their debts.

Well, there is also another one called kudabank that have that feature. Of course you must have good character in paying back before such a feature will be enabled.

 

[hastral45]

Credit card facilities are offered by banks in Nigeria unless you are using virtual cards. The disadvantage of these credit cards is that they do have credit limit on their values. You can't use these cards beyond their values.

 

[uptrendfinancialsignal]

Accepting credit cards is a very good way to improve on your business services.

 

[cherry123]

I think I prefer the option of setting up a merchant account with a bank or credit card processor. I like the control one has over the credit card processing