How to Take Credit Cards for Business
Growing businesses use different payment systems to accept payments from their customers. Merchant payment system providers allow business owners to take checks and credit cards via electronic payment processing. A growing number of consumers want to pay for goods and services via credit and debit cards. Merchants who don't take debit and credit cards for purchases will lose business to those who do.
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Instructions
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Research local merchant payment systems providers. Check your local classified ads or Google. Many companies offer credit card processing systems to businesses, so spend time researching your options.
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Get some quotes. Ask each sales rep to give you a proposal so you can compare costs between multiple providers. These proposals will give you ballpark estimates of what working with each provider will cost but can't be 100 percent exact. You will need to make some assumptions about how much processing you'll do. Consider both the volume of transactions and the amount of each transaction.
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Pick a vendor and fill out their application. Once you settle on the provider that offers the best pricing for your needs, get their paperwork filled out and submitted. You'll need to provide your business checking account information and tax ID number on the application.
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Install the hardware. A few days after the payment provider processes your order, you'll receive your credit card processing terminal. Set this up near your cash register and plug in the power and phone line connections.
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Tell your customers. Now that you're accepting debit and credit cards, add them to your list of accepted payments. Many stores do this by putting Visa, Mastercard or other credit-card logos on their windows and by their cash registers.
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