subject: Procedures that can help small business ventures to accept credit cards [print this page] Procedures that can help small business ventures to accept credit cards
Credit cards have significantly changed the consumer behavior. In case of online shopping, this plastic money contributes towards 90% of the entire transaction in the web space. Onsite and mobile business ventures (transportation, shipping, movers and packers and contractors) are not beyond the ambit of this changed consumer behavior. Use of credit card in onsite and mobile business ventures is increasing at an increasing rate. Hence, if you are an owner of small scale business venture and do not accept credit cards, you lag behind your competitors.
Convenience is the keyword for a customer while other aspects related to a product or service like quality price etc. remains the same. To offer the convenience of shopping to your potential customers you have to accept credit cards. Otherwise, there is a bright chance of loosing a large number of potential customers to competitors offering this facility. The process of accepting payments through credit cards is different for online, onsite and mobile business ventures. In this article, we will discuss the process for each business venture in a brief and clear manner.
If your businesses operation is online, you can accept credit cards to receive payments in the most hassle free manner. There are scores of options in this direction. For example, you can take help of PayPal's business account to accept payments through credit cards. Like PayPal, there are dozens of other highly secured and low cost options to integrate credit card acceptance facility in your online venture or ecommerce website. Virtual terminal of these service providers are capable of clearing the doubts of the customers who are skeptic regarding paying through credit cards. Along with, this terminal also helps you to accept credit cards to receive payment through mediums like phone, fax or email. Hence, search for a reliable service provider and integrate credit card acceptance facility to your website today.
If you operate onsite, accepting payment through credit cards is bit difficult compared to your online counterparts? Here, to accept credit cards, you need to take help of a merchant service provider. The provider will offer you a merchant service account and swiping machine having a terminal. Magnetic strip present in the credit card is swiped at the terminal of the machine. You might have to purchase multiple terminals to accept credit cards. All these terminals are integrated with your merchant service account. You have to pay for using the account. However, the payment is not a fixed one and it depends upon the volume and amount of money transaction. Higher is the volume and amount transacted, lower is the fee you have to pay to the merchant account service provider.
In case of mobile professionals, acceptance of payment through credit card is most expensive and complicated. However, the emergence of "Accept by Phone" facility has enabled the mobile professionals to accept credit cards in a less burdensome manner. Operation of this facility is easier and it demands a nominal amount of 5 USD per month for all the transactions.
