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Business Accept Credit Card - How to Enable Your Business to Accept Credit Cards - Online Businesses

account set merchant pos

So you want to accept credit cards at your business? Good idea, considering the vast amounts of customers out there packing plastic! Rest assured, you can find a solution that fits your needs. You just need to ask the right questions. First off, do you run an online business, or have a physical location? Or both? See below for handy tips, tricks, and references that will get you accepting customers’ cards in no time!

Online Businesses

With online businesses, you have the option of using a third party payment gateway or setting up a merchant account to accept cards yourself. Third party services usually incur a small fee per month or per transaction (or both), but they are very quick and easy to set up. A merchant account is more difficult to set up, and you will also have to consider internet security issues. But it does cut out the third-party fees and makes your site look more official, so it has its own set of benefits.

Third Party Services (Quick and Easy)

  • PayPal – one of the most popular services. It’s free to set up, and they take a per-transaction percentage. Many online shoppers have PayPal accounts, and usually won’t blink and eye when referred there for payment.

  • Yahoo Store – a complete tool package that lets you design an online store that accepts credit cards. They charge a setup fee and take a percentage of each transaction.

  • Amazon WebStore – Amazon offers payment services that have special benefits to existing Amazon customers, allowing them to use their Amazon account info to checkout at your site. They also have a variety of fulfillment services and site design resources.

  • Google Checkout – Google’s payment service that allows customers to pay through their Google account. Per-transaction percentage applies.

Accepting Cards Yourself (More Work, But Can Be More Reward)

In order to accept credit cards right on your own site, you need to set up a merchant account first. You can talk with your local bank about setting one up, or go online to explore solutions like Propay, which allows you to set up an account for a reasonable annual fee. Authorize.net can provide you with payment gateways and more advanced online solutions.

Brick-and-Mortar (Non-online) Businesses

For a physical store location, you will need a Point of Sale system (POS) along with a merchant account to accept credit cards from your customers.

Finding a POS System That Works for You

There are an amazing amount of POS solutions that can be customized to your store’s needs. Check out sites like POS Nation to get an idea of the sheer volume and variety of these systems. Sometimes POS system providers have a list of favored merchant account service providers that they can refer you to as well, so they may be able to help guide you to one that will meet your needs.

Especially in today’s day and age, it makes strong sense for businesses to give their customers the option to pay in plastic. No matter what way you choose to go about it, you can be sure of one thing: the one sure way to leave money on the table is not to do it!

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