Understanding Best Payment Methods: Cash, Debit, or Credit

Best payment methods for checkout. Woman feeling happy to hold cash, credit card & debit card.

Your money spending habits can cost to you more if you don’t understand the best payment methods for checkout to save your money.

Many of us are in a habit of spending money at ecommerce websites, shopping malls, grocery stores, or even at fuel pumps. We often prefer to keep a check card with us.

A check card in form of debit card or credit card is often considered to be much safer option then simply carrying cash in your wallet.

You have to complete your buying transaction by swiping the card through card reading machine or keypad at the checkout counter. You can either use your credit card or debit card or even cash at most of the checkout counters.

But your transaction will be handled very differently behind the scenes, irrespective of your same bank account. Now, you might be thinking: which is the best payment methods to be used at any checkout point? Should some methods be avoided completely?

You should carefully make the decision to use cash, debit card, or credit card, or a combination of all 3 options depending on your lifestyle and spending habits. Here are some tips to understand best payment methods for checkout:

(1) Paying By Cash

It is one of the best payment methods for checkout. If you are afraid of overspending or just want to save on card swipe fees, or MasterCard or Visa transaction fees then keeping cash in your wallet can be great means to do shopping.

A cash transaction can also avoid shopping over the limit. You can immediately stop purchasing goods as soon as you are depleted of cash. However, for some people, cash in wallet may also mean an easy access to cash leading to undesirable shopping.

If you are carrying cash in your wallet instead of Visa or MasterCard plastic payment card then it also carries a risk of being stolen without any protection of fraudulent use.

Image Source: Shutterstock

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