Published by VirtualTrak Technologies
on Friday, March 23, 2007 at 8:04 AM.
In this day and age most major stores you go into accepts credit cards. Many consumers today have ceased carrying cash. For most businesses it is almost imperitive that you accept credit cards in order to compete. In the past there was a stigma about how expensive it was for merchants to accept credit cards. However, if you are set up with the correct type of merchant account the cost associated with it is not really expensive. If you are able to save each sale that you have lost from not accepting credit cards, or from accepting a check against your better judgement your overall revenue would increase.
Some merchants have accepted credit cards in the past and felt that they paid way too many hidden costs. The best way to avoid this is to research the company that you are going to get a merchant account with. Make sure that you know how credit card processing works and why there are different fees. Do not be afraid to ask questions.
Examples of good questions to ask:
- How long will it take to get approved?
- How many days will it take to get paid for credit card transactions?
- How long is the contract, if any? If so how much is the cancellation fee?
- How do I get a machine (terminal) or website?
- Is there an annual fee?
- What happens to my merchant account if I close my business?
Accepting credit cards does not have to be painful. If you have some questions about merchant accounts please Click Here
Labels: accept credit cards today, credit card payments, credit card processing, online payment processing, virtual terminal transacations