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Credit Accept Cash Only Cards Businesses Customers Pay Eslpod

Id ESLPod_0384_CN
Episode Id ESLPod 384
Episode Title Accepting Credit Cards
Title Accepting Credit Cards
Text

In the United States, most companies accept many different "payment methods" (ways of paying for something), such as cash, checks, and credit cards. But some businesses, especially small businesses, accept only cash. They do this "primarily" (mainly, most importantly) for two reasons. First, they do not want to accept the "risk" (the possibility that something bad will happen) of having customers write "bad checks" (a check written for more money than one has in the bank). Second, these small businesses do not want to pay a percentage of the sale amount each time their customers pay with a credit card.

"Street vendors" are people who sell things, usually food, out of "carts" (small tables or rooms that can be pushed on wheels) in the street. Street vendors are usually cash-only businesses. For example, if you want to eat a hot dog on the street in New York City, you will have to pay for it with cash. The hot dog "vendor" (seller) probably will not accept any other type of payment. Other cash-only businesses include very "casual" (informal and relaxed) restaurants. Likewise, "newspaper stands" (small areas, usually on the open street, where newspapers, magazines, cigarettes, and candies are sold) are another type of cash-only business.

Most customers today like the "convenience" (easiness and comfort) of using credit cards and many of them will shop only at businesses that accept that payment method. Many people do not carry very much cash in their "wallets" (folded pieces of leather or cloth used to carry cash, credit cards, and identification), so they do not consider buying anything from a cash-only business. "Consequently" (as a result), many cash-only businesses are changing their "policies" (an official way of doing something) and beginning to accept credit cards so that they can have more customers.

Topics Money

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