Start to Accept Credit Card Payments

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Is your small or home-based company ready to accept credit card payments? You may have noticed that more customers are asking to pay with a credit card. Or perhaps you are losing customers who prefer the convenience of credit payments elsewhere to paying with cash or a check at your establishment. When you are approved for a merchant services account, you will become eligible to install a credit card processor at your place of business because a bank or another financial institution will be able to underwrite your payment account to limit losses and facilitate customer payment options. Applying for a merchant account can be done over the Internet by visiting the sites that offer this service. Simply browse those that appear to offer the best deal and then get in touch to follow up and confirm the costs and benefits before choosing the best service provider.

A merchant account will help you to accept credit card payments by providing you with the means to lease or buy credit-processing equipment. You can get a combined terminal and printer, a wireless unit, or a debit and electronic check processor. Auxiliary equipment, like pagers, also is available through your merchant services account. It is important to contact a merchant account provider with your business plan as well as a budget for managing the expenses of your new commercial status. An underwriter will want to see that you have thought out your expansion plan and that you are in a position to make it work. You should ask questions about the expenses involved with a merchant account to be sure that you have the means of paying the bills each month. Although merchant account deals can vary, some expenses seem to be fairly common, although amounts will vary from one provider to another. These include the potential for an application fee, installation charges, monthly gateway fee, printed billing, annual membership fee, maintenance or service expenses, and so on. Before you know it, costs can mount and you may not be able to afford all that you want. For the record, though, there are a number of companies that charge between 15 and 20 cents per transaction or a low overall percentage rate each month, so many kinds of merchant accounts are quite affordable. You just have to shop for the best deal so you can begin processing credit payments promptly.

If your initial account set-up enabling you to accept credit card payments works out well, you may wish to consider expanding your technological advances. For example, it is generally a good idea for companies to put up a Website on the Internet. This allows anyone in the world to visit at anytime and shop for goods or services. You don’t have to worry about staffing the site 24/7 or waiting for a check payment in the mail. Many entrepreneurs report that their profit margins go through the roof when they establish a site in cyberspace.

When your business is ready to accept credit, think about applying for a merchant services account so you can accept credit card payments.

Shane Penrod is the founder of Specializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to

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