How to Accept Credit Cards and Enhance Your Business
Jan 08, 2017
As a business owner, you’ll want to accept credit cards because it’s proven to boost sales. In order to get started, you should become familiar with processing terms to ensure you get the right cr
credit card machine with the right features for your business.How to Accept Credit Cards: Terms You Should Know The first thing you will need to do is setup a merchant account, which allows you to accept credit cards and debit cards. Merchant accounts are set up via a merchant account provider; they also provide related services, special equipment, and security features.
Next, you’ll need to decide on a point-of-sale (POS) system, which includes credit card machines, pin pads, receipt printers, and so on. The type of equipment you purchase should align with the type of business you do. For example, brick and mortar stores will want a system that’s easy to use at a counter space, whereas mobile businesses will benefit from mobile equipment and wireless terminals.
Online business will need a shopping cart, which is the online equivalent of a credit card machine. Online business will also need a payment gateway, or the form customers fill out when making a payment online, and the backend software that processes those forms.
If you’ve ever wondered, “how can my business accept credit cards?” the terms above will help get you on your way.Build a Better Business