Quote:
Originally Posted by Crusty
Armchair restauranteurs who insist on telling successful restaurant owners what they're doing wrong, well, it seems a bit presumptuous.
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Some of us here have actual business experience...
Obviously what the VK is doing today is working out well for them, but that doesn't mean it will last forever and it's usually advantageous, in any business, to adapt with (or slightly ahead of) your core customer demographic.
I've worked with a lot of small businesses who think that accepting credit cards is going to cut into their bottom line or otherwise have some measurable negative effect. Usually this is not true (exceptions being when your median ticket is less than $10 or for some reason you would be highly prone to false charge-backs).
In most cases accepting payments via credit card speeds the overall payment flow, gets your money in the bank quicker (no waiting for checks to clear) reduces employee risk of having to take cash deposits to the bank, reduces chances of employee theft or cash mis-counts, and increases your average ticket (this varies depending on the business).
I don't work for a credit card company, and I have no vested interest in the VK. But if they have chosen not to accept credit cards for urban-legendish reasons it makes sense to point out the other side of the argument (IMO).
At this point they might as well look past just credit cards and look at NFC/contactless payment options as well (since contactless credit card terminals will be the requirement for credit-card readers next year anyway).