How To Set Up Your Own Credit Card Processing System

More than sixty percent of all business sales are accounted for by credit card transactions, and if you sell exclusively online that number can typically jump up to a hundred percent. Credit cards are still the most preferred payment method of American consumers, despite the occasional identity theft-related news report. If you are starting your own business, one of the key things that you should have set up right away is your own credit card processing system. Credit cards are a much safer alternative for both you and your customers and it is also much more convenient to shop with. Simply advertising your capability of accepting credit card payments with a sign on your storefront window is enough to attract more customers, even those who typically pay with cash. It is important to choose the right credit card processing merchant, one that allows you to accept a wide variety of cards while providing fraud resolution services, tech support and other value added services, all the while at a rate that is reasonable compared to other processors. Also remember to ask about any bonuses that can lower your monthly service fees such as reaching a certain amount of credit card transactions each month.

Processing credit cards is a little bit more of a challenge if your business is regularly on the road or has no permanent venue. It requires specialized equipment that is slightly different than what you would see on a stationary P.O.S. system. This is especially useful at trade shows and fairs and most card processing merchants have mobile credit card processing services specifically for this type of business. They can sometimes charge on a per-transaction basis for utilizing a wireless transmission in addition to other extra costs that help accommodate this added functionality. You can also either purchase or lease the necessary equipment through your merchant. Keep in mind that security protocols that govern credit card transactions change every now and then, meaning that a machine can all of a sudden become outdated with little warning. Whether to buy or lease the equipment becomes a much harder decision to make because of this.

Keep in mind that there are other pieces of equipment in addition to the credit card swiper that make up a credit card processing terminal. To help keep track of their transaction, some people find that receipts are important. A thermal printer comes in handy in this kind of situation. Depending on the needs of your business there are both wired and wireless models that you can take advantage of. This equipment can also be bought or leased like credit card terminals.