I want to accept credit cards in my business. How do I set up this?

Answer 1

You can go online & type in a search engine "accepting credit cards for my own business". You will be able to then locate hundreds of comapnies that offer credit card acceptance services. Be aware of commissions required by the credit card comapnies as well as set up fees & minimum transaction allowances per month.

Answer 2

This all depends on exactly how you want to except payments. Merchant accounts are easy to set up, but you do need to have some things in place first.

Must have before setting up Merchant Account:

Business Checking Account
Business License

There are also other things to consider. Most important things to remember are How are you going to process cards (Phone orders, Internet, in person retail, or service company going to customers), and PRICE.

There are 3 basic kinds of merchant accounts:

Retail (most common): Customer comes in to store or resturaunt and swipes the card.

MOTO/E-commerce: Taking a payment when the customer is not present. EX: Phone or Website orders.

Service Inustry: No retail location, business travels to customers homes or business to provide service. This type of company will best be suited for a wireless terminal.


Pricing structures vary depending on what Merchant Account category above your business fits in. IMPORTANT: DO NOT SAY YOU ARE A RETAIL BUSINESS IF YOU PLAN TO RUN TRANSACTIONS ON THE WEB OR BY PHONE. You will be charged high rates for all transactions not swiped, unless you are on the right program. That being said if you are a retail store, choose a retail plan - you will get the best rates.

How to determine the best price structure for you.

What is the average size sale you plan to process with credit cards? If it is a high average ticket say $100. Then take the lowest % for your category above and do not worry about the transaction fee. If your average sale is low around $10. Get the lowest transaction fee available.

For the service industry: There are Cell Phone credit card machines that are small enough to fit in your pocket with a wireless printer that you can attach to your belt. Great Product.


If you would like more information on these types of services try:

http://www.omnitranz.com

Answer 3

It really depends on where you are located and what you are selling. If you are in the United States, selling more than $1,000 a month - a merchant account with an electronic payment gateway (LinkPoint, Verisign's Payflow, or Authorizenet.com) might be the best solution.

http://www.loudcommerce.com is a merchant account provider that can help you set everything up.

Authorizenet.com and Verisign's Payflow will charge you a transaction fee (on top of the merchant account transaction fee). Linkpoint only has a monthly gateway fee - no transaction fee. Verisign will give you 1,000 free transactions a month - but they are usually about $50.00 a month

if you are doing less, 2CO.com or Paypal might be a better choice.

Answer 4

call the CC companies, i.e. Visa, Master Card, Am Express, Discover. They will be more than happy to help you set up to accept payment by CC. Just watch out for the hidden fees that you pay to them for accepting payment by their card.

Answer 5

call the banks in your area and see if they have a merchant service department.the merchant service can come and set it all up.you may want to get a separate phone line just for the machine and you will pay a fee each month depending on the merchants fees.

Answer 6

Open up a Paypal account and make it a Paypal business account. Even if your customers dont have a Paypal account, they can still use their discover, mastercard, amex or visa.

www.paypal.com