You may be starting a new company or expanding an existing one that has never been able to accept credit card payments. Either way, you must follow necessary procedures to be able to accept credit card payments. This entire situation could seem daunting if you’ve never done this before. Fortunately, it’s simple to accept credit card payments.
Learn how to get credit card payments for your small company in this blog.
How to Accept Credit Card Payments for Your Small Business
There are a few basic steps you will need to take if you want to be able to accept credit card payments from your small business customers.
First, you will need to set up a payment gateway. This is an online system that enables you to receive and process payments from customers by using their credit cards. You can find several payment gateways suitable for small businesses on the internet.
Once you have chosen a payment gateway, you must set up and create a merchant account. This is where your company’s credit card information will be stored. You will also need to add your payment gateway to your merchant account’s third-party processor.
This will allow the customers to pay with their credit cards through your business.
Once you have completed these steps, you are ready to begin accepting credit card payments from your customers!
Setup Instructions for Credit Card Payments
The first thing you must do is locate a source of credit card payments. Small businesses can now get this service from a variety of sources. It provides you with many options, but it may also be confusing and challenging to choose the best one for your business.
Compare the service providers offered in your area for your business insurance and the kinds of payments you wish to accept. Important factors include:
- Processing charges for each transaction
- Fees for setup, services, rentals, or other costs
- Facilitated payment types
- When and how money is transferred
- Contract length and conditions
Once you have chosen the best provider for your company, all that is left to do is sign up as a merchant, and you will be good to go!
Consult with Duane Weber Insurance, Inc.
Setting up and accepting payments online via credit card is now easier than ever. With a payment gateway, processing charges, fees, and other costs are usually minimal. Facilitated payment types can be used by almost any business type.
Contact our team at Duane Weber Insurance, Inc. to learn more.