Accept Credit Card Payments with a Merchant Credit Card Account

Whether you own a business locally or one that operates online, one of the key decisions you should make is to accept credit card payments.  After all, the majority of people who make purchases use a credit card so by not having a system in place for payments such as this would mean missing a huge opportunity for sales and profits.  While you want to accept credit card payments, you also want to make sure you work with the right merchant and have the best system in place.

Whether you own a business locally or one that operates online, one of the key decisions you should make is to accept credit card payments.  After all, the majority of people who make purchases use a credit card so by not having a system in place for payments such as this would mean missing a huge opportunity for sales and profits.  While you want to accept credit card payments, you also want to make sure you work with the right merchant and have the best system in place.

Remember, with today’s technology, you could even accept credit card payments from a home-based business or when providing services at the client’s location.  As you will discover from the information provided, numerous options and benefits exist:

·    Special Deals – It is essential you look at deals being offered by various merchants.  As a prime example, both American Express and MasterCard are putting programs together for small business owners.  With this, you would be set up with a corporate program that is loaded with benefits such as support for accounting, flexibility of cash flow, and more.  By providing robust programs, these merchants build their own customer base while helping you do the same.

·    Rewards Programs – In addition to issuing companies offering more services and small business programs, many also have great rewards programs.  In this case, when you accept credit card payments, the merchant would offer rewards such as eliminating transaction fees, reducing interest, faster turnaround for you to receive your share of the purchase transaction, and more.

·    Merchant Choice – One of the first things you need to do once you decide to accept credit card payments is choose the merchant.  You have multiple options, which includes going directly through the merchant or working with a bank or credit union.  To look at fees, rewards, services, support, and more, you could go online to various merchants and begin looking at what each offers.  While the acquiring or issuing bank is an option, often working directly with the merchant gives you more credibility with the customer.  Remember, this is your business and therefore, you have the right and responsibility of making the best choice, one that is going to benefit your company and your customers.

·    Accounting Systems – When you accept credit card payments, you might also consider merchants that offer a backend accounting system.  This would be especially beneficial if your company is small or new, which saves you money and makes getting the business launched and established easier.  Often, merchants will have their own accounting software or they have connections with software vendors who can help you get everything set up.

·    Card Purchases – Once you have the right merchant chosen, one that is going to provide the best rates and services, rewards and other helpful programs, backend software for accounting, and outstanding support, you are ready to let your customers know that you accept credit card payments.  For this, you can have your website designer place a logo for each card you accept.  If you have a brick and mortar business, then the issuing company would provide signage.