If you run a small business, you want to make it as easy as possible for your customers to make payments. That means going beyond just accepting cash payments, and accepting credit and debit card payments as well.
But how do you go about this? And what are the issues to consider? Here are some of the factors to keep in mind when you start to accept card payments.
Use Credit Card Machines in Your Physical Store
Accepting credit card payments has many benefits, and one of the most common ways to accept credit card payments is via credit card machines. These are the physical terminals that you see in shops, bars and restaurants, and customers can make payments by physically inserting their cards into the machines.
This is the best option if you have a physical store and you want to allow your customers to make payments when they make a purchase. Make sure you can accept both credit card and debit card payments to provide greater choice for your customers.
You may also want to accept contactless payments, which are becoming more popular for smaller purchases. More people are also paying by using their phones using NFC technology, so you may want to use a payment terminal that allows you to accept these payments.
Choose Whether to Rent or Buy Your Machines
If you want to accept card payments using credit card machines, you should decide whether you want to buy or rent the machines. Both options come with advantages and disadvantages.
If you want to know how to rent a credit card machine, the process is quite simple. All you have to do is compare the processors offering this as a solution, and look at the various prices offered. Buying a machine may be the best option if you plan to use it for a long time, but it involves a larger upfront cost, so compare both options to decide on the best one for you.
Accept Credit Card Payments Over the Phone
You may want to be able to take credit card payments over the phone or by fax, and this is possible as well.
Various card processing companies can set you up with a solution whereby you can take the details of your customers’ credit cards and enter them into your computer yourself. You can then process the payments in this way, which could be a convenient option for you and your customers.
Accept Online Card Payments
If you want to sell products and services via your website, you will need an online payment processing solution. Again, there are many options to choose from, and they all allow customers to enter their details themselves on your site and purchase your products and services directly. If you have a business website, having a payment solution in place is essential.
Compare Card Processing Companies
These are the main options available to you when you want to start accepting credit card payments. There are many processing companies to choose from, and they all have different features and fees. So make sure you spend some time comparing the different companies to find the most suitable solution for your business.