Payment and Credit Policies

The video tutorial discusses payment and credit policies for businesses, focusing on the use of third-party intermediaries for individual and business transactions. It covers the importance of choosing the right credit card options, setting up online payment systems, and establishing credit policies for B2B transactions. The tutorial also highlights traditional payment methods and the need for a well-thought-out payment plan.

What is a key consideration when choosing which credit cards to accept for a business?

• The design of the credit card

• The terms of use and common payment methods of customers

• The color of the credit card

• The number of digits on the card

What is a potential downside of using third-party intermediaries for credit card payments?

• They limit the number of transactions

• They require a physical store

• They charge a percentage of the sales value

• They offer too many payment options

Which of the following is a popular third-party intermediary for online payments?

• American Express

• PayPal

• MasterCard

• Visa

What is a common credit term used in business-to-business transactions?

• Weekly payments

• Cash on delivery

• 5 net 30

• Immediate payment

How can businesses incentivize other businesses to pay promptly?

• By sending reminders every day

• By charging a late fee

• By offering a discount for early payment

• By offering free products