Merchant account accept credit cards
A simple and cost-effective way to accept credit card payments is to set up a merchant account. A merchant account is a bank account that enables credit card networks to route funds to you. How it works: you approve the sale and take the customers credit card details, the card is verified and approved, your merchant account provider passes the details to their credit card processor, and the credit card processor then debits the customers credit card and deposits the money into your business bank account.
To accept credit cards, you need to establish a merchant account with each of the credit card companies whose card you want to accept. You can do this through your own bank.If you have a hard time setting up a merchant account at your bank look online or in the yellow pages for independent credit card processing companies. There are more expensive, but are more flexible, too. After your merchant account is set up, you will receive a startup kit and instructions, explaining how to swipe cards and get authorization. Applying for a merchant account is easier than you may think. Every commercial bank offers credit card processing services, but initial set up and per-transaction processing fees vary considerably, so shop around.
If you are home based, you may have a tougher time being approved for a merchant account, but if you provide financial statements and tax returns showing you are a solid business, you will most likely be approved. There is a modest set up fee, and you can apply to accept Visa, MasterCard, Discover, and American Express cards with one application. Although, the processing fees are based n the volume charged and if you are a big customer, may be negotiable.A merchant credit card account can be linked to your business checking account, so all fees are automatically withdrawn and all monies are deposited directly into your business account. You can process charges over the phone, online, or by mail. If you sell products or services outside of your office, consider ordering the portable swiper, which allows you to accept credit cards anywhere. If you are processing dozens of charges a week, it makes sense to have the electronic processor that automatically approves and records charges via a telephone line in your office.
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