How to Accept Credit Card Payments
Customers expect that a business will accept credit card payments in addition to other payment types. Providing this option to your customers will help provide your business with a professional appearance and can potentially boost sales.
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Instructions
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To accept credit card payments from your customers you will need to locate a merchant online that offers payment processing and submit an application.
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Most payment processing merchants require a business that is applying to have a Business Tax ID, so be sure to have this information handy.
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Processing merchants usually charge different fees per transaction depending on how many transactions per month you are expecting. Evaluate your current sales and be sure to give an honest representation of the amount of credit card payments you expect to receive every month.
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Different merchants charge different rates, and some will charge both a monthly fee and a "per transaction" fee. Shop around and find a merchant that offers the best price for your volume of sales.
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Once your business is accepted by a merchant, you will need to either acquire a credit card processing machine for a retail store, or an online shopping cart for a web store. Some merchants will sell these directly, while others will recommend specific products to you and inform you of where they can be purchased.
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Tips & Warnings
Be very certain of your volume of credit card sales per month before committing to a merchant. If the price per transaction is high enough, it will not be profitable to continue to offer credit card payments.
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Comments
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Cheryl Torrie
Dec 18, 2008
Good Tips!!! -
oparaku
Aug 21, 2008
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oparaku
Aug 21, 2008
There is no such thing as a good credit card - however some credit card deals are better than others. It is very easy to grow fond of credit cards especially when you get your brand new card with a zero balance. Now you can head out and do some shopping. On the way you can fill your car with gas and maybe get it washed as well. The point is this; a credit card is very easy to use, in actual fact too easy to use, which results more often than not in over spending. Then when it comes to the bill the balance is too high, so you make the minimum payment. Of course if the balance is too high today, then the balance will be too high tomorrow, especially when you continue spending. As a result of which you find yourself on the slippery road into debt. This is where many of us find ourselves today, wondering how that credit card balance got so out of hand. If you have chosen a card w
