The business maxim, “cash is king”, is meant to draw business owners’ attention to the importance of cash flow. But, these days, the phrase could be re-written to say, “credit is king”.
This is because businesses that accept credit cards have a distinct competitive advantage over those that don’t. Here are three reasons why.
1. Credit cards are safer
For as long as anyone can remember, fraud has been a problem for businesses and consumers alike. Since the earliest days of fake banknotes and checks, people have been trying to game the system to take financial advantage. [Read more…]