Merchant account providers offers advantages to companies like reduced administrative cost, improved cash flow, quicker access to funds, the image of a modern, innovative company, etc. Consumers also like using credit cards as a form of payment because it is a simpler and safer method, no hassles with cash or delayed payments as with billing. Accepting credit cards can be a big decision for some businesses.
Is Accepting Credit Cards Worth It?
In order to sell your products or services successfully, most businesses should definitely consider looking into accepting credit cards. Accepting credit cards can make it easy for your customers to buy products and pay for services. The more difficult it is for customers to conduct business because credit cards are not accepted, the greater the chance of losing that customer forever! Today consumers demand conveniences. If you are inconveniencing your customers by not accepting credit cards, you might consider that an obvious sign that accepting credit cards will be a smart business decision.
What do you need to accept credit cards?
In order to accept credit cards you will first have to establish a merchant account. The merchant account is an account established with a payment processor for the settlement of credit card transactions. The funds derived from the merchant account will need to be deposited into a checking account belonging to any bank of your choice. The next step in accepting credit cards is to choose a payment processing solution best suited for your business type; these include Real-Time Internet processing, retail swipe terminals, and computer-based processing such as software or Virtual Terminal.
Your credit card processing options:
Real-Time credit card Processing - This is our most popular solution for Internet businesses that accept credit cards. Real-Time credit card processing allows your customer to automatically and securely pay on your site using their credit card. Real-Time processing normally works in conjunction with a secured online order form or a shopping cart. Because the payment gateway encrypts the information prior to sending it out for authorization, secure certificates are not required for Real-Time processing.
Virtual Terminal - This solution is perfect for Mail/Phone Order businesses as well as web sites that process sales using a not Real-Time processing solution. The Virtual Terminal is a secure solution that allows you to accept credit cards using any computer connected to the Internet, anywhere in the world, with no software to install! You simply access the Virtual Terminal and manually enter the credit card information. It also includes access to Real-Time reports.
Retail Virtual Terminal - This includes all the features referenced above with the addition of an electronic card reader. The Retail Virtual Terminal is ideal for any retail business where credit card payments are accepted.
Retail Swipe Terminal/Credit Card Machine - This solution is most desirable for retail/storefront merchants who see their customers face-to-face.
Point-of-Sale Software - With Pc Charge software you can accept credit cards for retail/storefront business with the addition of a card reader. Or, without the card reader it is also a popular solution for Mail/Phone Order businesses. Pc Charge software can communicated using a phone line or a high-speed connection.
After determining what payment solution best fits your needs, an application must be completed. The application/merchant agreement is the contractual agreement between you, the merchant, and the processing bank. The documents can either be emailed or faxed for you to review and sign.
