How to Accept Credit Cards Online, In-Store or Anywhere

May 23, 2016

Figuring out how to accept credit cards isn’t that much complicated. All you need is finding the best and the right route between your customers’ credit card account and your bank account.

How to Start?

To start, you should look for the most convenient and low-cost option that will enable you to process transactions with ease. Overall, this is a 2-step process:

  1. Decide on how you’re going to deal with your customer:
  • In person – via a POS system, a mobile device, or a traditional credit card swiper
  • Remotely – via the Internet or phone.
  1. Figure out whether you’ll be in need of a merchant account.

Merchants both in the US and Canada should turn only to a reputable payment processor like emerchantbroker.com to get the best for their businesses. EMB, #1 high-risk merchant account provider in the US, offers exceptional payment processing services and a Canadian merchant account to business owners of any type and size.

How To Accept Credit Cards?

You can accept credit cards via:

  1. Point-of-sale (POS) System – A checkout terminal that can come with a credit card swiper, cash register, printer, touch screen, barcode scanner, Near Field Communication (NFC) reader, and more. This is ideal for businesses with a physical location trying to connect a number of locations or cash registers to each other.
  1. Mobile Credit Card Processor – A dongle and/or app to allow for accepting credit cards anywhere via a smartphone or a tablet. This is ideal for businesses selling in a variety of places, and trying to process in-store transactions, or completing only a few transactions per day at its physical locations.
  1. Credit Card Terminal – Hardware mainly required for swiping credit cards in person. Usually, merchant account providers offer it as part of their services. This is ideal for businesses that need a credit card processing system only for accepting payments.
  2. Online Payments – Has to do with an eCommerce solution, a third-party marketplace, and shopping cart software. This is ideal for a business that conducts various business transactions online.

Merchant Account Services

A merchant account service is like a middleman operating between the business and the customer’s credit card company or bank. Merchant accounts have the following types:

  1. Merchant Bank Account
  2. Retail Merchant Account
  3. Internet Merchant Account
  4. MOTO (mail or telephone order) Merchant Account

Mobile Credit Card Processing

Mobile credit card processing is ideal for merchants trying to accept credit cards anytime and anyplace. Mobile credit card processors can be chosen by brick-and-mortar stores, repair people, food trucks, and street vendors.

Point-of-Sale System

Point-of-Sale (POS) systems combine a merchant account, equipment and software to make checkout transactions, accept credit card payments and cash payments, manage inventory and customers, create sales reports, and more.

Online Credit Card Processing

All types of businesses can use third-party providers. Online credit card processors are ideal for businesses either with a low credit score or with low credit and debit card transactions volumes per month.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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