A business that accepts payments by credit and debit cards ________.
A) is usually unable to attract more customers
B) must check each customer's credit rating
C) generally receives proceeds from credit and debit card transactions 30 - 45 days after the sale
D) almost always pays a fee to the processor to cover the processing costs

Question

Quizplus · Accepted Answer

Businesses that accept credit and debit card payments almost always pay a fee to the processor to cover the processing costs. This fee is deducted from the proceeds received from the transaction. Additionally, businesses typically receive the proceeds from credit and debit card transactions 1-2 business days after the sale, not 30-45 days as stated in option C. Option A is incorrect since accepting credit and debit card payments can often attract more customers who prefer the convenience of paying with plastic. Option B is also incorrect as the business does not need to check each customer's credit rating; instead, the processor assumes the risk for fraud and non-payment.

A Business That Accepts Payments by Credit and Debit Cards