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:
- 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.
- 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:
- 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.
- 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.
- 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.
- 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:
- Merchant Bank Account
- Retail Merchant Account
- Internet Merchant Account
- 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 (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.