Credit Cards, What you need to get started

What you need to get started

To get your business set up to process credit card transactions, there are a few things you’ll need:

<!–[if !supportLists]–>·        <!–[endif]–>POS terminal, card processing PC software, or virtual terminal (if your business processes 10 or fewer transactions per week, all you need is a telephone)

<!–[if !supportLists]–>·        <!–[endif]–>Merchant account – this is the contract you establish with the acquirer that provides your card processing service

<!–[if !supportLists]–>·        <!–[endif]–>Business bank account to receive deposits for transaction payment

 

If you want to process card transactions online, you will also need:

<!–[if !supportLists]–>·        <!–[endif]–>A Web site, hosting service, and secure server with certification

<!–[if !supportLists]–>·        <!–[endif]–>Shopping cart software

 

The right card processing solution for your business depends on the nature and volume of your transactions.

How card processing benefits your business

Regardless of your business’s size or industry, there are many benefits in having the ability to process credit card transactions.

By accepting multiple forms of payment, you give your customers options and improve their experiences. You also introduce a new audience of customers to grow your business organically.

In addition, card processing is an efficient, convenient payment solution that helps you improve cash flow by ensuring timely, automatic deposits to your account.

Value-added services—like gift card and prepaid card programs—can provide a new channel for generating profits and increasing your revenue. Check protection services can help you limit your risk from bad checks.

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