Dec 18, 2019
The Pros and Cons of
Accepting Card Payments at Your Wedding Venue
PROS:
Fast way to get payment
Universally recognized form of payment (Kinsey tells her couples it’s like buying something on Amazon...everyone understands this).
Minimizes late payments considerably (If you have Honeybook, you can set up automatic withdrawals. In Dubsado, you can send automated payment reminders
Minimize administrative tasks (waiting for checks to arrive, going to the bank to deposit or mobile deposits, don’t have to file paper checks away, hoping the check clears, following up if it doesn’t, etc.)
Easier to project cash flow each month
CONS:
Clients can perform
“Chargebacks” on their cards which is them “stopping payment” and
being refunded what they paid you. This isn’t common but can
totally happen. It’s the exception, not the rule.
Processing Fees: cost of doing business in the 21st century folks, build credit card fees into your revenue plan! Make it easy for people to pay you. Kinsey paid $3,400 in credit card fees in 2019
Profit First by Mike Michalowicz