Money arrival time (the time at which the merchant actually receives the money and can spend it)
Bitcoin: 1-2 sec
Litecoin: 1-2 sec
Credit card: several business days
Paypal: several minutes to several weeks (depending on payment method of customer)
Multiple errors.
You can't spend Bitcoin or Litecoin 'till the transaction(s) that gave them to you have been confirmed - normally MULTIPLE confirmations needed. 10 mins ABSOLUTE MINIMUM for Bitcoin, 2.5 mins ABSOLUTE MINIMUM for Litecoin, commonly an hour or two for either and I've seen it take 6+ hours on either on rare occasions.
More importantly, you don't even know *IF* the transaction is going to go through 'till at least the first confirmation. THAT is the big issue with trying to use any Cryptocoin in a retail store environment - customers do NOT want to wait around for MINUTES to see if they're going to be able to buy something, they often get irritated if it takes more than a few SECONDS on a credit card transaction.
A credit card processor that takes DAYS to process a transaction is incompetant or a ripoff. I had a merchant account for a few years back in the 1990s, I NEVER saw it take hours much less days to recieve my payment for a transaction, unless I couldn't get into the automated system AT ALL, and on automated transactions the norm was SECONDS. Even on the weekends (I did a LOT of sales at computer shows and hamfests) I'd have the money in my account before I got packed up after the show ended and I could get to an ATM to check (hours at MOST, but couldn't tell for sure how long given time between the sale and when I was available TO check).
The only way it would take DAYS for a credit card transaction to get the money to the seller is if they ran the transaction manually, then it took the seller days to actually SUBMIT it.
Paypal has often had merchant money from sales "on hold" for MONTHS at a time. Go look at the class action lawsuit they settled several years back - then note that the folks currently investigating to file ANOTHER ONE are seeing this same issue DESPITE PAYPAL AGREEMENT IN THE ORIGINAL CASE SETTLEMENT TO STOP DOING THAT.
Confirmation time (the time at which the merchant can be sure the payment won't be reversed)
Bitcoin: 10 minutes
Litecoin 2½ minutes
Credit card: 6+ months
Paypal: 3+ months
MAJOR Error. Confirmation time is NOT chargeback limit time.
Cryptocoins do not HAVE a chargeback mechanism at all, which is one reason merchants LIKE cryptocoin payments - they know they HAVE the money once the transaction has been processed at all, it's just a matter of time because there is no way to reverse the transaction no matter what.