Credit Card Processing for Small Businesses


credit cardAnyone who has ever owned a small business can tell you that the ability to accept credit and debit cards is one thing that you just can’t live without. Whether your business is brick and mortar or online, credit card processing is a definite must-have in order to survive. Accepting credit cards will significantly increase the volume of clients in your customer base and that translates to higher profits. Nothing brings them in more than that Visa and MasterCard logo on your front door or window. By the same token, nothing sends a buyer back out the front door empty-handed faster than the words, “Sorry, we don’t accept credit cards.”

Let’s face it; cash and carry in the business world is a thing of the past. Sure, a handful of your customers may pay in cash, or even by check, but the majority of them literally expect you to accept their credit or debit card for any transaction. The ability to accept credit cards offers additional payment options to all of your customers and guarantees you that your business will gain added sales that are also generally larger. It’s a proven fact that consumers spend more, when they pull out their credit or debit card, than when they pay cash.

One of the first steps in preparing to accept credit cards is to choose a credit card processor. Credit card processing for small businesses require credit cards for the small types of orders that are typical of the industry.  It’s always a good idea to do a bit of research to get the best deal for the least money. Check out processors’ offers on-line and then compare. Many have excellent introductory offers, such as free credit card terminal, low introductory percentage rate and more. Be sure to determine the savings in the long-run, however, not just the initial savings.

When you are determining the best options, some of the concessions you’ll want to ask prospective credit card processors about are:

· No fee for application or set-up

· No monthly statement fees

· Online account access at no charge

· No batch fees

· Low swipe fees

· Free or discounted equipment

· A virtual terminal at no charge

· Approval the same day

· Visa, MasterCard, American Express and Discover next-day funding

· A gift card and loyalty program

· A check clearing service

· Fraud protection

· 24/7 toll-free tech support

· An account representative who offers personalized service

Many processors now have state-of-the-art wireless terminals and smartphone apps to further guarantee ease of use to merchants, especially those who might do business outside of their store or office. These occasions could include trade shows, fairs, or sporting events. If you anticipate that you might be doing any of those activities, you might want to consider asking your processor about these special applications.

Accepting credit and debit cards has also become much easier with new innovations in processing and equipment. There’s no need anymore to worry about your employees’ ability to quickly and efficiently process a credit or debit card transaction. Equipment is much simpler to operate and approvals or declines are instantaneous; making your customers happier and increasing your profits.

photo by moneyblognewz

Written by Jon the Saver

This post was written by yours truly, Jon Elder. My mission is to help you succeed in your personal finance life. Join me on the journey to financial freedom! You can subscribe through RSS FEED or EMAIL updates. You can also find me on TWITTER
and FACEBOOK
. Happy investing 🙂

Jon the Saver

This post was written by yours truly, Jon Elder. My mission is to help you succeed in your personal finance life. Join me on the journey to financial freedom! You can subscribe through RSS FEED or EMAIL updates. You can also find me on TWITTER and FACEBOOK . Happy investing 🙂

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