How to Get Paid by Credit Card
Money & Debt
|
Valencia Higuera
Running a business involves accepting money from clients or customers. Some businesses only accept cash or checks. However, limiting the way customers can pay for products or services can negatively impact the bottom line. You can encourage additional sales by offering multiple payment methods. This includes setting up your business to accept credit card transactions.
Compare merchant fees and services. Credit card processing companies offer merchant accounts, and these companies acts as the middleman between you and a customer's credit card company. These companies process credit card transactions and deposit the funds into your bank account. Speak with two or three companies and inquire about monthly fees and transaction fees for merchant accounts. Fees vary by company.
3.
Purchase a terminal to begin accepting credit card payments. Once approved for a merchant account, buy a terminal from the credit card processing company and connect the terminal to the company's network via a telephone line. The credit card processing company will provide specific instructions for operating the terminal.
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