Business 0.0 / 5 ? Applied Businesspayment methodsGCSEEdexcel Created by: hannah.monksCreated on: 22-05-16 13:57 Advantages of paying by cash Less likely to get into debt, instant payment. 1 of 13 Disadvantags of paying by cash Cash is easier to steal or lose, has to be done face to face and possibility of being short changed. 2 of 13 Disadvantages to the business accepting cash Less secure to keep on premises, administration costs with cashing up at the end of the day. 3 of 13 Advantages of paying by debit card More secure than carrying cash, can purchase by phone or the internet, no risk of being short changed. 4 of 13 Advantages of the business accepting debit card Can check for sufficient funds, easier to cash up at the end of the day. 5 of 13 Disadvantages of paying by debit card Cards can get lost/stolen, easier to get into debt. 6 of 13 Disadvantages of business accepting debiit card Cost for the machine, there can be a delay of 3 days. 7 of 13 Advantages of paying by credit card More secure, can buy now and pay later. 8 of 13 Advantages of business accepting credit card More secure on premises, less admin time needed. 9 of 13 Disadvantages of paying by credit card High interest rates, annual fees, easier to get in debt if you're living in your overdraft. 10 of 13 Advantages of paying by direct debit Regular payment, no need to go to the bank. 11 of 13 Advantages of business accepting direct debit Guranteed payment. 12 of 13 Disadvantages of using direct debit Less visible than cash, buyer can dictate the payment 13 of 13
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