Update Your business

Accept Credit Cards

Bring in more sales and increase profits

How to get started

To keep up with or beat the competition, many businesses must accept credit cards. The credit card transaction process contains many steps and fees which business owners may find confusing at first. There are many tools and simple steps that can be used to simplify the process.

If you have a brick and mortar store, you will need a point of sale system that includes an up-to-date credit card reader and a merchant account. For online merchants, a payment gateway system and an Internet merchant account is necessary. These systems will process all your credit card transactions.

How Credit Card Transactions Work

Processing Fees

Many businesses will have three different fees associated with processing credit card transactions. A percentage of each transaction is often accompanied by a fixed fee per transaction. There may also be set-up fees, service fees, and maintenance fees that are billed to your account on a one-time or monthly basis.

Automatic Deposits

Many credit card processing companies will issue money to merchants within a few business days of the transaction. Some vendors can take up to seven days, with mobile payments taking a little longer. When transaction processing is complete, banks will typically deposit the money into a designated business account.

Security Measures

Following the proper steps to set up your credit card processing account will protect yourself and your customers from credit card fraud. Requesting photographic identification for in-person transactions, and the three-digit security code for online transactions, will help reduce the potential for fraudulent purchases.