
Customers love the convenience of using credit cards for almost any purchase - from daily expenses like gas and coffee to larger purchases such as a computer or even a new car. It's almost impossible to compete in the retail world if you don't accept credit cards!
Many businesses shy away from accepting credit cards for a variety of reasons. They may be concerned with potential stolen credit cards, or fear a customer may have charges reversed for invalid reasons after a sale. Here's what businesses often fail to realize: Customers typically spend more money with credit cards than they do with cash. Sometimes, a lot more! And the increased business more than makes up for your credit card processing costs. While customers can only spend what cash they have on hand, credit cards provide more flexibility because they draw upon their available credit or checking account funds (in the case of debit cards).
To process credit cards, you need a merchant account. That's easy enough to get if you own a business. You just need proof of established business (a federal tax ID number) or your social security number, along with a physical mailing address and a bank account. The hardest part is already done and now it's just a matter of getting approved by a processor! |