Quick answer: Accept credit and debit cards first, because they make up two-thirds of consumer payments. Keep cash if you sell in person. Add bank payments if you send large invoices to other businesses. You do not need every payment type, only the ones your customers already reach for.
Below: what the latest numbers show, which payment types fit how you sell, what each one costs you in effort, and how to set them up.
Which payment types do customers actually use?
Mostly cards, with cash still in the mix. These figures come from the 2026 Diary of Consumer Payment Choice, published by Federal Reserve Financial Services in May 2026.
- Credit and debit cards account for two-thirds of all consumer payments.
- About 1 in 7 payments are still made with cash, and that share has held steady for three years.
- Adults 55 and older, households earning less than $25,000 a year and rural residents rely on cash more than others.
What that means for you: cards are the place to start, and if your customers are older or rural, dropping cash could cost you sales. New options are worth a look, but the same report says habits change slowly.
Which payment types fit how you sell?
We recommend choosing by where the sale happens, because that decides what your customer has in hand.
| How you sell | Start with | Add if customers ask |
|---|---|---|
| Online store | Credit and debit cards, plus a digital wallet | PayPal, buy now, pay later |
| Shop, salon or restaurant | Cards, contactless and cash | Gift cards |
| Local services, like plumbing or landscaping | Cards through a payment link, and cash or check on site | Bank payments for large jobs |
| Selling to other businesses | Bank payments and checks | Cards for smaller invoices |
| Subscriptions or memberships | Cards on file | Bank payments for annual plans |
For the full list of options, with what each one is, read our guide to small business payment options in 2026.
What does each payment type cost you in effort and risk?
| Payment type | What it asks of you | What to watch |
|---|---|---|
| Cards in person | A terminal or card reader and a processor | Processing fees |
| Cards online | A checkout page and a processor | Fraud and disputes |
| Cash | A safe place to keep it, and daily counting | Errors, theft and trips to the bank |
| Checks | Time to deposit them | Slow funds and bounced checks |
| Bank payments (ACH) | Your customer’s bank details or an invoice link | Setup, and time to settle |
The online risk is real. In the Federal Reserve’s report on 2023 debit card activity, published in December 2025, sales where the card was not present made up 54.3% of fraud losses, and merchants absorbed 65.1% of those.
Our guide to card-not-present payments shows how to lower that risk.
ACH is the network behind direct deposits and online bill payments. Nacha, which oversees its rules, explains how it works. If you take cards at all, the PCI Security Standards Council sets the data security rules, so ask your processor which parts it handles.
How do you add a new payment type?
- Ask your last ten customers how they would rather pay. Their answers beat any trend report.
- Add one at a time. Each one brings its own fees and bookkeeping.
- Test it yourself. Buy something from your own site or terminal, then refund it.
- Tell customers. Put the options on your checkout page, your invoices and your door.
- Check your books after a month. Make sure the new type records cleanly, then decide whether it stays.
How does this work on Turbify?
Turbify Payments provides payment processing for small businesses and ecommerce merchants, with fraud monitoring and risk scoring. If you are opening an online shop, Turbify Stores plans include credit card and PayPal processing and fraud detection.
Our step-by-step guide to accepting payments online walks through the setup, and do you need a payment processor or a full store? helps you choose between the two.
Quick answers
Do I have to accept cash?
That depends on your business and where it is, so check your state and local rules. Whatever the rule, about 1 in 7 consumer payments are still in cash, so think about who you would turn away.
Should I accept checks?
If you sell to other businesses or to older customers, it can make sense. Wait for a check to clear before you ship or deliver anything expensive.
How many payment types should I offer?
Start with two or three that match how you sell. We would add another only when customers ask for it.
Is buy now, pay later worth adding?
It can suit an online store with higher-priced items. Ask your processor what it costs before you turn it on.
Your next step
Look at how your last ten customers paid and how they tried to pay. If someone asked for an option you do not offer, that is the one to add first.
Keep customer data safe. Turbify includes free SSL on every hosting plan, with payment tools built for small business. See Turbify Payments.
