Small Business Credit Debit and Echeck processing Simplified
Quadrapay Helping Small businesses achieve success by using reliable payment processing solutions.
Credit Card Processing For Small Business No Monthly Fee
How can a small business get a merchant account or a Payment gateway?
Every small business needs to process or run credit debit cards. This is possible with a merchant account or payment gateway. The small business needs to apply for a merchant account with a credit card processing company.The merchant will have to share the business info and KYC documents. Once the business documents are received then the underwriting team initiates the process of underwriting. The Underwriting is a very intense process and sometimes can take time. All the KYC documents and processing statements are analyzed and then the account is approved.
Once the account is approved then the merchant can integrate the Merchant account or payment gateway to the website. API integration help is provided by our technical team. We do give help to all our merchants with API integrations
How much does it cost to use a merchant account for small business?
Most of the accounts start without any upfront cost. The Payment processors typically charge these fees
- TDR/MDR – Also known as a Transaction Rate. This is a Fixed % per Transaction
- Monthly Fee – Some Processors Charge a Monthly Fee
- Wire Fee – Few International Merchant Account providers charge a wire fee. Domestic Processors generally don’t charge any fee for the local transfer.
- Virtual Terminal Fee – Most of the PSP’s offer free Virtual Terminal some may charge a monthly Fee.
Can a small business accept payments without a merchant account?
Yes. You can accept credit debit cards without a merchant account. You may choose an aggregated solution and integrate the same on the website.
What is a credit card processing company?
Credit card processing company allows the merchants to accept the credit and debit cards online and via the virtual terminal.
How much does it cost to run a credit card?
The rate of transactions starts from .75 %.
How soon can a small business start accepting Credit Debit Cards?
The setup time is very fast for small business merchant accounts. In many cases, it is just within few hours of application. The best way to a faster setup is to make sure that you send all the required KYC documents to the underwriting or processing team.
Is there a virtual credit card terminal with no monthly fees?
This is a good question. Most of the large businesses prefer Virtual Terminal. This is primarily because they process a lot of orders over the phone. Payment processors are not very comfortable in offering Virtual Terminal to small businesses. It does not mean that there are no options available. The best way will be to request the processor about a VT. If they think your business model and industry is not risky enough they may help you with one. Most of the processors will charge a Fixed Monthly Fee for the Virtual Terminal. If your volume is big then you may try to negotiate.
You have made a great decision to accept credit debit cards for your business. Let us know in case you need any assistance.
Feel free to get in touch with us.
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