If you are running a small business and you would like to accept credit card payments from your customers, you will need to find card services for small business. Finding a trusted card service for small business can be a bit of a challenge as you need a company that will offer you low fees for the transactions.
You need to accept card payments from your customers because it opens your doors to a number of new customers. It can also help you acquire the money your customers owe you in a timely manner. Since most people use credit cards to pay for just about everything, offering credit card services allows you to get your money faster so you can expand your working capital. This will help you build up your corporate credit rating because you will be able to pay back your lenders in a timely manner.
As you are evaluating which card processors to use, consider the following:
Account set-up fees. When you first get started with credit card services for small business you need to inquire about the initial account set-up fees. You will need to pay a small percentage of your credit card sales to the processing company but you do need to be careful about a company that may be demanding high fees.
Credit card acceptance. Each different credit card company has different fees with their credit cards. You need to find out which ones you can afford. AMEX and Discover are more expensive from Visa and Mastercard so its important to weigh the costs and also the cards that your customers frequently use. You also need to check and see if there are additional fees for the acceptance of debit cards.
Maintenance charges. The provider will give you equipment in order to process the credit card payments. How much will it cost you to maintain the equipment? What happens if you need to upgrade the equipment? Will you get a new machine for free or will you need to pay a new fee for the machine?
Fraud and security protection. The security of your bank account and your customers bank accounts is extremely important. You need to make sure the company you work with offers a quality security protection service
Customer service. Does the credit card processor offer you customer service when you need it? Do they have an online service or a phone service you can call in the event that your machine breaks down or you have issues accepting payments?
by: Andy Kyle
About the Author:
Corporate Credit Concepts specializes in credit card services for small business. For more information about credit card services for small business and how it might benefit your business, pleas visit: Credit Card Services For Small Business