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Title: Does your business accept credit cards?
By: Author: Jakob Jelling
It has become increasingly important for businesses to be able
to accept credit cards. Credit cards are the preferred method of
payment nowadays. Whether you are an online merchant or own an
on-site business, if you do not accept credit cards you are
missing out on a lot of revenue.
To accept credit cards your business needs a credit card
processing system. Creating a merchant account gives you that
ability. Merchant accounts are accounts especially crafted to
fit the needs of businesses to accept money.
If you own a store, you will need a card swipe terminal to
accept credit card payments. Your merchant account provider may
be able to provide you with this equipment. There will be a
purchase fee or rent fee associated with the equipment. You can
also shop elsewhere for point of sale equipment. POS terminal
software can ease the processing of credit cards and can ease
the job of a cashier at grocery stores, merchandise stores,
bookshops, or any other type of store you own.
Once the equipment is in place you are ready to go. When a
customer asks 'do you accept credit cards?' your answer will be
a definite yes. At the Point of Sale terminal, customers can
check out their items and pay by credit. You slide the credit
card into the machine and it will automatically make the payment.
To accept credit cards is even more crucial for Internet
merchants. If you only use checks to accept payments, it can be
troublesome for customers to write and mail the check. Online
payment methods such as PayPal and StormPay also have drawbacks
since many people do not have accounts with them. These can be
your secondary payment methods but it is important to be able to
accept credit cards.
Different websites have different reasons to accept credit card
payments. Some sites ask for a membership or subscription fee.
Some sites may deliver tangible products where the payment
gateway must be integrated with the shopping cart. Others may
require a fee for online consumption of such things as music,
movies, etc.
You will need an Internet merchant account to make a payment
gateway on your e-commerce Website to accept credit cards. You
have a great choice when it comes to selecting a merchant
account. Things to look for when making your choice are:
- Fees, such as transaction, set up and charge back - Reliable
security features - Professional customer support - The
Company's reputation and stability
If you are not skilled in programming, you should seek a
merchant account provider that will set up your payment gateway
for you or provide a cut and paste code. Setting up the payment
gateway, to accept credit cards, in the right place and
integrating it into your e-commerce Website is essential to
driving sales. The gateway must be secure and the payment
processing time must be fast.
Why you must Accept Credit Cards?
For online purchases, a majority of customers pay by credit
cards. Thus if you do not accept credit cards you have reduced
your customer base tremendously. Also credit cards promote
impulse buying. You do not want to give your customers time to
rethink their purchase when they are writing a check with all
those zeros.
Also it can add credibility and professionalism to your
business. If you accept credit cards, your site will look more
legitimate and customers will have greater peace of mind when
making payments. Your payment processor will be working and
making money 24 hours a day, even while you sleep.
The benefits of accepting credit cards are many, even for
on-site businesses. Credit cards are a convenient way to make
payments. Customers do not have to carry cash around. Just slide
the card in the processor and the payment is done. The merchant
can potentially see a great increase in sales.
About the author:
Jakob Jelling is the founder of http://www.cashbazar.com. Visit
his website for the latest on personal finance, debt
elimination, budgeting, credit cards and real estate.
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