You cannot afford to have a potential customer struggle to pay. Customers today have a wide option of payment types which they want to use. For example today I went into a shop, and I did not have my wallet on me. If the merchant could not accept payment from the mobile phone, I could not have bought anything. If a business does not take Bpay or direct deposit, I have a lot of trouble paying those bills.
A modern point of sale system requires a wide range of payment types.
There are some points you need to consider when adopting a new payment type.
Potential market - For example, if you deal a lot with Chinese people from China, then Alipay is something they would use.
Risk – for example, cash is always a problem also there are significant risks of mistakes. EFTPOS on MOTO mode can have serious risk problems. We had a client, who told us that he thinks when making a payment, a client of their surreptitiously switched the payment from standard to EFTPOS MOTO, then when the bill came in disputed the charges,
Service fees – for example, EFTPOS and credit card providers often charge service fees.
Transaction costs – each payment type has its unique charges. Note it may be better to pay the fees than lose the sale.
Privacy – cash and soon bitcoin would be preferred by many I am sure in a bong shop.
