Accepting Credit Cards: What Your Business Needs To Know

credit and debit credit card machines, or add an online payment processing service to your website, there are a few things your business needs to know:The Difference Between Credit Card Processing and Merchant ServicesCredit card processing is just one type of merchant service. When you sign up for merchant account services, you may also sign up to take e-checks, touchless payments, and other types of payments offered by the merchant service provider. Today’s payment processing solutions include digital wallet payments, mobile payments, and international payments, in addition to traditional forms of merchant solutions, such as ACH and e-checks or debit and credit card payments.Credit Card Fees: How Do They Work?You’ll need to become familiar with credit card processing fees and how they work. Depending on the merchant account services provider, you’ll see a variety of fees which depend on what type of payment transactions you intend on conducting. Some of these fees may be low and others may be high. Often, you’ll find that these fees can be negotiated, such as when a long contract is selected. Also, make sure you’re clear about any start-up, annual, or termination fees that might be associated with taking digital payments.Your Credit Card and Payment Processing Equipment: Card Processing Machines and More