Ever since the first credit card was introduced in 1950, the convenience of having a payment alternative to cash has grown in popularity. Through technological advances the payments industry has now become what was once unimaginable. Suffice it to say that accepting multiple forms of payment in your business or organization offers myriad benefits to you and your customers. Not only does it broaden your potential customer base, studies have also shown that consumers tend to buy larger quantities and spend more when paying by plastic instead of cash. Accepting credit and debit card payments is just the beginning. You can take your business to new heights by offering ACH, EMV®, eCheck, Apple Pay™, Samsung Pay™, Android Pay™ and even more.
So how do you get started?
Step One: Find a payment processor that instills trust and confidence.
When you’re shopping for a merchant services provider to help you with small business credit card processing, look for one you can trust. It’s best to choose a provider that has received top ratings and is accredited by the Better Business Bureau. A credible processor makes security top priority. A one-stop-shop with cutting-edge payment processing products and services, competitive pricing, and attentive customer service can provide a great return on your investment.
Step Two: Apply for a merchant account.
Whether you want to accept payments in person, on your website, or through your mobile device, it begins with obtaining a merchant account to accept credit cards. A merchant account is a type of business bank account that allows a business to accept and process debit and credit card transactions. This agreement authorizes the merchant services provider to provide you with all the necessary technology and handle transaction authorizations with the issuing bank. Then proceeds from the sale are deposited into the merchant’s designated bank account. A merchant account is maintained separately from all other personal and business bank accounts. The merchant account approval process is a necessary step for a merchant processor to assume the risk of providing you as a merchant, with payment processing capabilities. Applying for a merchant account is similar to applying for a line of credit.
Step Three: Find the best payment solutions for your unique needs at the right price.
Your payment processing needs will vary according to your business size and industry. With over 20 years of experience, goEmerchant offers specialized and customizable payment processing and merchant solutions to help you get paid faster and make your business more profitable.
If you have any questions, contact a friendly goEmerchant account representative who will answer all of your questions about setting up a merchant account and accepting credit cards at your business. Call 888-638-7867 and ask about our free pricing analysis. Start accepting credit cards at your small business today!
