Simple Guidance In Credit Card Processing For Small Business

Fascinating Credit Card Processing For Small Business Tactics That Can Help Your Business Grow

If you just started a small business or running your business online, you can’t survive on relaying on cash-only services. In today’s market, every customer prefers to pay using the technology to pay for the product and services. This can include a debit card payment, credit card payment, e-wallets, ach processing, bitcoin payments, and a lot more different methods of payment. That’s why a credit card processing for small business is a must. At present, there are so many credit card processors available in the market and so much competition is going on, including claims of flexibility, better customer service, pricing, and android credit card processing capabilities. Don’t worry! We have sorted all this for you so that you can quickly conclude what is best for your business needs.

Why Should A Small Business Start Accepting Credit Cards For Business Payments?

Credit Card processing provides several benefits to small business merchants.

  • Credit card payments provide flexibility to the customers. They don’t have to carry an exact change of cash which are prone to be loss or theft.
  • Small business merchants don’t have to store the cash and then deposit it in their bank account.
  • Credit card payments get settled quickly in comparing to checks which take a hell lot of time to get reflected in the business merchant account. Thus it also helps in improving the overall cash flow for your small business.
  • As per experts analysis, the customer usually purchases a lot of products with a credit card payment, rather than in the case of a customer who uses cash to purchase goods and services.
  • Credit card payment attracts a lot of customers to shop in your business, so more customers results in more repeating customers and more increase in business revenue.
  • Credit card processing helps to make each record of transactions and helps you to reduce the problem of wrong duplicate data while accounting and tax preparation.

What Equipments Do You Need To Accept Credit Card Processing For Small Business?

To successfully process the low-cost credit card processing for small business owners, you need to have a terminal for POS (point of sale) and an integrated system of point of sale. A standalone terminal is sufficient for a small business store, an integrated point of sale system should be advisable for a business like a restaurant or large retail stores. These new equipment to process, pos credit card processing for small business are so advanced that it can also help in payroll and accounting systems.

Thanks to continuous advancement in the technology, now you can also take benefit of your mobile device like iPhone or Android device to process the credit card transactions with android phone credit card processing from Quadrapay which turns a smartphone into a terminal to process the debit card and credit card payment solution under mobile credit card processing for small business.

What Should A Small Business Have To Start Trading Online?

  • Website: The first essential thing is to have a website which will act as a storefront for your online business, this will allow you to show all the available products and services so that your customers can easily browse and select what they want to purchase.
  • Shopping Cart: A customer who browses on your storefront website can select the products and services and then add them in a virtual cart. When the customer selects all the required items, this virtual shopping cart will help them to calculate the number of items and their total charge without including tax and shipping charges(if applicable) during the checkout process.
  • Payment Gateway: To successfully complete, the payment process for the items added by the customer in the checkout process, the eCommerce credit card processing for small business helps to process the payments using online credit card processing for small business, debit cards, e-wallets and other payment methods to successfully complete the transaction in a safe and secure environment under the regulations and guidelines provided by PCI DSS (payment card industry and data security standards).

What About The Processing Fees Applicable To Credit Card Processing For Small Business?

There are various types of transaction fees and monthly fee applicable to credit card processing.

  • Interchange Fee: A interchange rate is applicable as a percentage of surplus applicable for the network of the card provider.
  • Markup Charges: This markup fee is the charges that a small business merchant has to pay to the payment processor that will be applicable per transaction. A high-risk business merchant may attract more charges for the transactions because of the high-risk payment category of credit card processing for small business. Quadrapay charges very low fees for the processing of your lot of daily payment transactions and high risk credit card processing which ensures you to have hassle-free business experience.
  • Chargeback Charges: These charges are applicable if a customer disputes a purchase and resulting in a refund. Quadrapay has a solution for this with a chargeback alerts facility so that you can monitor and maintain your business transactions.
  • Equipment Fees: In case if you didn’t purchase a piece of equipment, then you have to pay the leasing charges for that point of sale terminal equipment.
  • Payment Gateway Charges: These are the fees that a payment gateway charges for processing the transactions from the checkout page of your website in a safe and secure environment. You can save these charges with the help of Quadrapay eCommerce merchant account solution.

If you have still had any concern finding the best online credit card processing for small business, we are always happy to assist you at [email protected].

Happy Processing!

Suggested Reading