No matter how long you’ve been in business, you may not
be sure about how to accept credit card sales from your clients.
Perhaps you long to start processing credit payments so you
can increase the amount of your sales revenue or offer your
clients more payment transactions. Maybe you’re just
tired of chasing bad checks or waiting for monthly payments on client accounts.
If you’re ready to add credit card processing to your
line of customer services, a merchant services account may
be just what you need.
A merchant account associate can show you how to accept credit
card sales by using the right type of processing equipment.
By signing up for a merchant account, you will soon find out
if you’re approved, and upon approval, you can start
using your account to implement a credit processing system
for just about any type of business you’re in. A simple credit card
terminal equipped with a printer can be plugged into an outlet
at your store or shop to let your customers quickly swipe
credit cards for easy payments on the purchases they make.
Your merchant account underwriter will charge a certain amount
for each transaction, or you might be able to opt for a low
percentage rate on your monthly credit payment volume. If
you’re in a window washing or another service business,
or if you deliver items like baked goodies, you can lease
or buy a wireless credit card processor to take with you in
your travels for point-of-sale credit card payments.
How soon can a merchant account let you know how to accept
credit card sales? The first thing to do is find a bank or
another financial backer who will provide this type of account
for your business. Then apply for your company account by
filling out an online application or by completing and mailing
a printed form. Some banks may charge an application fee of
$100 or more, so find out ahead of time if you will need to
pay this fee, and if so, you might want to consider shopping
for another account provider. Also check into the costs associated
with a particular merchant account so you can find the best
deal, as these can carry several types of fees, some of which
may at first appear to be hidden. When your account is approved,
you can immediately get set up with the right equipment to
handle credit card payments, e-checks, and debit payments
as well. You may even want to consider setting up a digital
processing system so your customers can dial a toll-free number,
browse products online or from a print catalogue they have
already received, and punch in their orders as well as a credit
card number and expiration date for payment. You don’t
even have to hire someone to staff the phone line, although
it is probably a good idea to have someone available for a
few hours during a typical business day.
Ask your bank or another financial lender to tell you more
about the ways in which a merchant account can show you how
to accept credit card sales.
