If you’re starting a new business, you will definitely need to decide how to accept credit card payments from your customers. The most important task of business owners is to find the best way of connecting the credit cards of their clients to their bank accounts. Obviously, entrepreneurs have to find a convenient and cost-effective solution for their business needs. Today, we are going to discuss the main methods of accepting credit card payments from their customers. We will describe each method in detail and will tell how it works. As a result, you will hopefully be empowered to know which method is the best solution for your needs.
Credit Card Terminals
A credit card is a terminal that allows business owners to get money from the credit cards of their clients. A credit card terminal can be used for accepting credit card payments in person. You can also use the device to get credit card payments for phone and online orders. In order to use a credit card terminal for your business you will need to have a merchant account.
Mobile Credit Card Processors
Would you like to get payments from people who use mobile devices? If so, you will need to use a mobile credit card processor. You don’t need to have a merchant account to use a mobile credit card processor. However, a credit card reader will be required. It will be attached to your mobile phone.
Online Payment Processors
Do you have an online business that sells products or services online? Does your business conduct a fair amount of transactions online? Then you will certainly need to implement an effective e-commerce solution into your online store. The modern shopping card software will allow you to accept payments from clients on your online resource. You will need a merchant account to use shopping card software on your e-commerce site. However, if an e-commerce site is hosted by a third party then you will not need to have a merchant account.
POS system is a complete checkout terminal. Point-of-sale systems are often used for credit card processing purposes by such businesses bars, restaurants, beauty salons and retail stores. The point-of-sale system allows business owners to scan, checkout and process the payments of their clients in an easy, quick and effective way. So, if you have a POS system then you will be able to accept credit cards, receive cash payments and print receipts.