You may already be familiar with the statistics, and already know that you should be accepting credit cards. But you may still be unsure of how to do it. To accept credit cards, you will first have to identify a payment processing company. If you select the right company, then once you open a merchant account at a payment processing company, you should receive all the equipment and/or software you need.
This can include a shopping cart for your online store or point of sale terminals (POS). These are the devices into which customers will swipe or insert their credit cards. This can also be done digitally, for card-not-present (CNP) transactions. These are instances where you (the seller) receive credit card details without swiping the actual, physical card.
Online vs offline
The type of business you run will determine your choice of POS. If you have a physical store with a cash register, electronic card readers are ideal. They’re usually wired to the register, so that your cashiers can ring up the bill then swipe or insert the customer’s card.
If your business involves being on your feet a lot, you may be better off with a mobile terminal. They work well at restaurants, where your waiters and waitresses can bring the terminal to the customer’s table. You can also use portable keypads for deliveries, at flea markets or trade shows, or for house calls or onsite repair work. This can include plumbers, electricians, and domestic cleaners.
Smartphones are another mobile payment method for your business, since you take it everywhere, and you’re unlikely to lose or damage it. Your business can install a payment app on your staff’s phones so that they can always accept credit card payments for your business from anywhere.
Another option – for web-based shoppers – is your online store. Your payment processor can integrate your website with their service, offering shopping carts, fast checkout, encryption, and programing your store to accept top credit card networks.
For more information on choosing the best way to accept credit card payments for your business, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.