How to Get Certified to Process Credit Card Payments
Using a credit card at the local supermarket or gas station is a convenient method of paying for your purchase. Merchants are required to become certified in credit card payment processing. This cuts back on the risk of credit card fraud and theft. Equipment, software and vendor identification are all provided to merchants once the certification process has been completed. Before becoming certified, check payment processing companies carefully. This will ensure you and your customers do not get ripped off by scam artists.
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Instructions
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Apply for a merchant account with a highly reputable credit card payment processing company. You will be asked to provide the stats for your credit card processing software. Software that is not PABP (Payment Application Best Practices) certified is not acceptable and will result in your application being denied.
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Provide all credit card companies you accept with copies of your monthly business reports. Depending on the amount of sales, these companies will determine if you are eligible for compliance certification, also known as PCI (Payment Card Industry) certification. Merchants using credit card processing who are not PCI certified will face large fines and suspension of credit card processing usage.
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Choose the style of credit card terminal you wish to use. Research the different models offered through your payment processing company to ensure it is compatible with your software. Older terminals will not support updated software versions.
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Place all acceptance paperwork and certifications in a safe place such as a locked filing cabinet. You may be asked periodically to produce these papers to different representatives for the credit card companies or government to prove your right to process credit card payments.
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References
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