Why wouldn't an online merchant take only debit cards and ACH (automated clearinghouse) as payment instruments?
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Director of Product Management10 months ago
A merchant could choose to only take debit cards or ACH but it would limit them to only customers who feel secure using their debit cards or ACH with online merchants. In the event of fraud, the process is different to the customer depending on whether they used a credit card or debit card. This is where additional data into consumer payment trends would be helpful in making this business decision.Senior Vice President of Product Management in Software10 months ago
If a site does that, they are limiting payment options to just these two, then it can exclude a significant portion of customers who prefer using credit cards, digital wallets, or other payment methods. Credit cards are especially popular due to their reward programs and enhanced security features. Also, international customers might face challenges with ACH, which is primarily a U.S. system. I'm not sure why a site would restrict their sales or opportunities.