Best Way to Accept Credit Cards. There are many different ways to accept credit cards. Whether you’re accepting payments for the first time, or just looking for some extra tips, here is a simple guide on choosing the best way to accept credit cards for your business.
First, you’ll need to open a merchant account with a credit card processor. When looking for a processor, make sure to find a provider that offers a wide range of payment solutions for your business. Ask them for customer references, and look up reviews online. You’ll also want to look for a customer support team that offers free 24/7 in-house support.
Second, you’ll have to decide how you want to process your customers’ credit cards. You can use a physical terminal, virtual terminal, online shopping cart, mobile solution, or integrated payment solution. A physical terminal is a device that allows you to accept customer cards quickly in person. You can also key in card numbers for occasional phone orders. A virtual terminal is a web based terminal that lets you process credit cards online. An online shopping cart is a software that allows you to accept payments through your website. This option is standard for online stores. A mobile solution allows you to run credit cards through your mobile device by swiping or typing in payment card information. Lastly, some processors offer integrated payment solutions for your ERP and accounting software to help streamline the payment process. Integrated solutions allow you to process payments directly within your accounting software, securely store customer payment information, and automate invoice reconciliation.
Third, you’ll need to choose a payment gateway. Some of the key features that are important to look for in a payment gateway include: unlimited batch history, unlimited users, free customer support, chargeback management, and compatibility with your accounting software and online shopping cart.
Those are the basics! Now you’re ready to accept credit cards like a pro. Hopefully you’ve found the best way to accept credit cards for your unique business needs.
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