4 Easy Ways to Accept Credit Card Payments

Cody Cromwell
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Question 1

How can I accept credit card payments?

There are a number of simple ways to accept credit card payments online. Finding one that’s right for you can be a challenge, though. We’ve compiled some options for you.

First, you have to select a payment processor. Payment processors that use the e-check system generally don’t require more than basic transaction information (for example, your name, address, and bank account number). Their fees usually run in the range of 1.5% to 3.5% of the transaction amount, and some allow you to add a surcharge to your customer’s bill. If you’re hoping to avoid using a traditional credit card company, e-check processors offer a cost-effective way to handle credit card transactions.

How would you like to accept payments?

Accepting payments online and using a payment system are among the most essential business decisions you can make. They can also be among the most complex.

The challenge is to find the best payment system for your business as well as one that fits your budget. Installing a system that works and charges less or costs nothing can be incredibly hard to do. The most important principle to keep in mind is to remember that you are not required to do anything. Relying on just one payment system that you have to handle can be disastrous. Your customers will notice and their sentiment will highly depend on which payment solution you picked.

We have listed some of the best payment solutions and their capabilities, but in this post, we are going to focus on the most important aspect of accepting payments from your customers: accepting payments online.

It is nearly impossible to cover the range of abilities and options available to businesses out there. Still, we have listed a few of the choices that are worth considering. You can use them as tools and references to decide which is the best way for you to accept payments online.

You don’t have to install any of them to try them out for yourself.

PayPal:

Question 2

How should I accept Credit Card Payments?

There are many ways companies can accept credit card payments in today’s world. If you’re a company with multiple locations, you can install a credit card reader in all your stores. This is a great way to accept credit card payment with the utmost convenience. Then all you have to do is input the transaction manually, after it’s been approved. But for smaller businesses, there are other methods of accepting payment which are faster and more convenient.

Advantages of Using a Credit Card Reader

The credit card reader is one of the most popular ways of accepting credit card payment for business to business transactions. This type of payment has many advantages over the traditional way of accepting credit cards. One of the most notable advantages being the speed in which the transaction is completed. Since there is a card scanning function, the process is very quick and allows the business to open more doors for transactions in a given time.

A good business will not overlook the convenience and financial advantages of accepting credit card payments by using a credit card reader. A company can easily make the move towards accepting credit card payments by installing a credit card reader in their establishment.

Are you a high-risk business (due to the type of products/services sold or bad credit)?

If so, this article is for you!

Efforts are being made to reduce or eliminate fraudulent credit card purchases, but the risk remains for merchants as long as they accept credit cards.

It’s critical for businesses operating on a limited budget to find new sources of revenue and controlling the cost of credit card processing is one of the most effective marketing techniques. This guide will introduce you to a number of different payment processing models that help find better ways to accept cards without subjecting your business to fraud.

Question 3

4 Easy Ways to Accept Credit Card Payments

Accepting credit card payments for your business can be challenging, especially if you don’t have an established customer base or you don’t currently accept credit cards. But it’s a good idea to give this payment option a try for your business. Here are a few simple options to consider:

Electronic Payment Options

Credit card payments are electronic and transmit immediately to your bank account. This is convenient for the customer and the business, because the customer can make their purchase online instantly and do not have to worry about paying with cash. However, the merchant has to pay a processing fee and a fee per each transaction.

Wire Transfer Option

If you prefer to process credit card payments by check rather than by credit card, there are Electronic Check Presentment and Payment (ECPML) services that allow you to accept credit card payments electronically.

If you’re not confident about the security precautions you have, you could find an establishment that does not take electronic credit card payments, such as restaurants and pharmacies. Be sure to communicate with your bank about your cash collection procedures in advance so you can follow through with them.

What is your estimated monthly sales volume?

Question 4

How do I accept credit cards?

The simple answer is yes. You can accept credit cards from websites, customers and guests on your website from both your laptop and mobile. Something else you should know is that card readers are purchased from different vendors including the magnetic strip readers that attach to a smartphone for the computer or card reader that looks like the card readers you can find at the store.

Here are some 4 easy ways to accept credit card payments at your store, restaurant or your website.

Are you concerned with chargebacks?

There are many ways to accept credit card payments. However, the highest number of chargebacks that you might receive are from credit card payments.

When a credit card payment is rejected or otherwise returned by the card processor, this is referred to as a chargeback or a chargeback fee. Almost the same as selling a product, there’s a risk in selling a product that is being shipped, thus this is the reason why many retailers, including restaurants and retailers that accept credit card payments, rely on ACH (automated clearing house) payments.

This method requires the merchant to process the transaction through their merchant account, and the funds are deposited into the merchant’s bank account. Since there is no risk to the merchant, they can continue accepting credit card payments without any risk of chargebacks.

How to Accept Credit Card Payments In-Store

Online credit card terminals make it easier for you to process credit card transactions while you’re selling products online, but it’s still possible to accept credit card payments at your brick-and-mortar store.

To accept credit card payments in your retail store, you’ll need to install a credit card terminal.

Add this to your store’s purchase order and order your retailer-specific credit card terminal.

A blind cashier will process the credit card transaction on the credit card terminal.

The credit card terminal will capture vital details of the transaction that you will need to enter in the point of sale (POS) system.

What Payment Processors Should You Use?

If you have a payment processor set up, you can easily accept credit card payments. There are a few types of payment processors you can use. They all do the same thing, but there are some significant differences between them.

Connecting a Card Reader

Adding a credit card reader to your tablet is one quick and easy way to accept card payments through PayPal.

As long as a tablet has access to a USB port, you can purchase and connect a small, credit card sized, USB reader that will let you accept card payments through PayPal.

Android devices have a built in USB port. As long as you have access to that port on your Android device, you can add the credit card reader to it, to accept card payments.

How to Accept Mobile Credit Card Payments

Nowadays, people make almost all of their purchases with a credit card. Not only does this help to reduce waste on cash settlements, but it also gives the customer the benefits of a purchase slip.

Accepting credit cards as a business is an excellent way to make more sales. Using good equipment and technology, you can very easily set up a credit card payment gateway for your store.

Mobile credit card payments are becoming increasingly popular.

Marketers have infiltrated the lives of people both online and offline. With mobile phones being transported all over the place these days, mobile payments are growing in popularity.

But what does this mean for you who has a business and would like to accept credit card payments? Image credit-card-mak-credit-card-mak.jpg

What Mobile Payment Processor Should You Use?

Mobile payment solution is a phrase that you have probably come across in the past few years as more of your online business moves online as well as dedicated exclusively towards mobile traffic.

Mobile payment solutions differ from traditional payments processors in two ways:

First of all, they are more convenient and simpler to use. Second, they allow you to accept payment over the Internet as well as offline.

If you actually need to process payments on a regular basis, then you have three main options:

{1}. Your traditional white-labeled system. Does well and is familiar to you. Provides a wide array of payment options as well as market research capabilities.
{2}. Paypal mobile payments(including Braintree mobile payments). Offers great transaction monitoring and reporting capabilities out of the box.
{3}. Third-party mobile payment solution providers. Offers a range of features to match your specific needs.

Industrial platform solutions for business models:

Fees and pricing – Most mobile payment solutions come with a flat monthly fee. The overall total fee will vary depending on the number of accounts you have.

Transaction Volume and Transaction Processing Time – the Transaction Processing Time Will Depend

On the payment solution provider you choose. Look for one that offers real-time processing.

Supported currencies – Contact your payment solution provider to see if it supports your currency.

Adding a Mobile Card Reader

If you’re the owner of an online store, accepting credit card payments is fast and convenient to your customers. A credit card reader connects to your Wi-Fi, streamlining the checkout process. Your customers can easily pay for their purchases on your website with a credit card and sign for the transaction securely.

Unlike traditional point of sale systems, a credit card reader connects directly to your website’s hosting, so there’s no need to purchase and setup extra hardware. A credit card reader, or card swipe, is small and can be placed on the same desk as your computer. They are relatively inexpensive and easy to use. Most come bundled with a product key you can register to purchase additional credit card capabilities.

Mobile Credit Card Readers

Mobile credit card readers, also known as card swipe devices, are great for use in a wide range of environments. They can be easily moved around to accommodate different shops, and unlike hand-held credit card readers, they’re convenient, compact, and more reliable. Although they do require batteries, most come with a lifetime guarantee (with proof of purchase) against hardware failure. It’s a great investment for any business that plans to stay in business for the long haul.

Do You Need a Receipt Printer?

Yes, you do need an receipt printer, and you should use it. One of the key reasons to use a receipt printer is customer interaction. When a customer pays your bill, they expect a printed receipt that proves the transaction.

Many businesses and individuals don’t use a printer because they’re not sure they need one. If a transaction doesn’t need a receipt, usually no receipt is printed. So if a customer asks for a receipt with an online transaction or if you pay your bills with a check, a receipt printer isn’t necessary.

But most transactions involve a receipt. From customers paying their bills online to individual transactions like buying a pack of cigarettes, a receipt printer is an absolute necessity.

Whether it’s an inexpensive inkjet or a superior thermal printer, every business should ensure a customer will be able to print out a receipt at the end of a transaction.

Here are four easy ways to accept credit card payments:

Use a credit card terminal

A credit card terminal lets you to accept your credit card payments. It’s a great way to start accepting credit card payments, but a terminal isn’t your only option. You can also use a manual credit card machine, software, or an online payment gateway.

How to Accept Credit Card Payments Online

It is relatively easy to accept credit card payments online. Today, a simple click of the mouse can get you an authorized user credit card approval. When you sign up for these programs, you’ll be sent a credit card reader.

The credit card reader is used to capture the customer’s information and securely transmit it to the software you’ve installed on your computer. You’ll need a minimum of two (2) pieces of software to accept credit card payments online.

The first piece of software is the one that will help you receive, store, and manage the credit card information from the credit card reader. You’ll need to install the software on your computer and install the credit card reader to your computer so that the credit card information is securely transmitted to the software on your computer.

The second piece of software is the one that you’ll use to take payments online. You’ll need to install that piece of software on your computer, and you will eventually receive an authorization number from the processor. The second piece of software is the piece of software that displays your online business.

What Online Payment Processor Should You Use?

When accepting online payments, you’re working with one of the most important steps in your business. If done incorrectly, your customers will only have a bad experience and probably not even remember what they bought!

Whether you’re on a budget or you’re just not ready for an online transaction, there are still options available to you. Don’t just settle for something that will look flashy but won’t even help your business. And don’t make a choice based on what the cheaper option is just because it’s the cheapest option. Make sure it fits your business’s requirements and is the best fit for your website.

Do You Need a Virtual Terminal?

Do You Need a Payment Gateway?

We all know that credit card payments can be a bit expensive. But do you really need a payment gateway to accept credit cards?

Let’s take a look at some of the benefits of accepting credit card payments to see if it’s worth it for you to invest in a payment gateway.

Increased Sales

Adding a payment gateway to your site is an easy way to increase your sales without having to change the way your site works or by adding more complicated payment transactions.

Generating New Income

If you’re a business owner, advertising within a payment gateway offers an easy way to generate additional income from your visitors.

Easier Accounting

Many payment gateways offer simple tools to help you easily keep track of your payments and your expenses.

Easy Integration

If you’re a developer, a payment gateway is an easy way to add income to your site while keeping it simple and easy to manage.

Reduced Transaction Fees

Most payment systems charge per transaction and some charge per month/year. If you’ve decided to accept credit cards, it’s important to note that you’ll have to meet one or both of these requirements.

How to Accept Credit Cards in-Store, Online, and on-the-Go?

Accepting Credit Cards generally has to be implemented carefully and with appropriate security measures. Sounds complicated, right? But what it boils down to is simply asking your customers (or clients) to use a credit card and explaining the logistics from there.

There are actually many different ways of accepting credit cards by merchants. Here is a list of some of the various methods you can choose from to accept credit cards online and in-store.

Using an Online Payment Gateway

If your business is an online merchant and accepts payments via credit card online (e-commerce store), you can work with a payment processing company which will handle all the technicalities of receiving credit card payments. You can then provide the customer with a credit card form on your website.

Using a Mobile Payment App

You can use an online or a mobile payment application to swipe a card on-the-go. There are both free (or donation-based) and paid mobile payment apps available that will allow you to accept credit card payments.

Using Tablet POS

You can also work with a payment processing company such as Square which will provide you with tablet technology (or hardware) that acts as your business card reader. It will basically show your customers a credit card form that they can fill out themselves as they are ready to pay. For the record, Square has also developed a great card reader for iPhones (that you can purchase through the Apple store).

What Omnichannel Payment Processor Should You Use?

You’ve probably heard the name Omnichannel Payment Processor and the term Omnichannel Payment Solutions. What do they mean? If you’re a retailer or a service provider, it’s possible that you’ve seen one or both of these phrases floating around the marketing and procurement departments. But depending on whom you ask, this may mean different things.

To give it a visual, think of the term Omnichannel Payment Processor as a name for the man or woman in charge of the overall payment process from beginning to end. So in a retail setting, it would include the customer’s initial contact with your business, whether via in-store, online, or phone; to the final collection and reconciliation of payments.

The term Omnichannel Payment Solution is typically used when referring specifically to the technical platform that supports the payment process. While you’ve seen this term more commonly used in the context of provider-based exchange and back-office solutions, you’ll also hear it used to define the types of tools and technology that support the process.

Accepting Credit Card Payment Frequently Asked Questions (FAQs)

If you own a small business or a creative online store, accepting credit cards is a smart idea. Simply put, this method helps increase your sales and your profits.

Since you’re reading Bored Panda, chances are that you’re interested in a lot more advanced methods beyond just accepting credit cards. While traditional signing up for a merchant account is one of the easiest ways to process credit card payments without having to deal with complicated technicalities or high fees, you have a few alternatives to choose from.

Here are four of the easiest ways to accept credit card payments online.

What is PCI compliance?

Payment card industry, or PCI for short, is a security standard implemented in 1998 adopted by the Financial Payment Card Industry Security Standards Council (FPC) at the end of 2013. This standard requires all payment gateways and outlets to comply with the guidelines set by PCI.

Following these guidelines can help minimize the risk of a data breach or hacking incident. PCI is regulated by the PCI Security Standards Council. The three most important rules of this standard are the following:

Every merchant responsible for handling credit card data has a secure computing environment, which means they store card holders’ card data in a secure way.

The point-of-sale (POS) terminals on each merchant’s POS device have the capability to perform certain security checks to comply with PCI standards.

Every merchant is informed whether the data has been protected by a password or has been encrypted.

PCI is a must for all companies processing transactions for credit card payments. If you’re a digital product, service, or company, you need to ensure that any charge made to a cardholder’s card is secure regardless of the payment method.

How do refunds work?

When a customer buys an item from your online store the money is taken immediately from their card.

However, if they return or exchange their item, the money is taken from their account and put back into your account. This way, the customer is protected because they can contact their credit card company at any time to see how much you have charged them.

This activity is called refund. It’s useful when you want to refund an order, replace an item, or refund the customer. For example, suppose you’ve purchased the wrong item or do not want it anymore. You can contact the customer and ask them to cancel their order. If they cancel their order, then you can credit the money back to their card.

What are charge disputes?

Our charge disputes section will go through a few of the many disputes that go through your account. Some of these may seem quite random as predicting some of these can be quite rare but the majority can be expected.

When someone disputes a transaction, it can be either within the 30 day period or after the 30 days have passed. We send out disputes to the customer as well as our card network, Mastercard, using both a manual and an automatic system (generally over the phone).

If a dispute is recognised by the automatic system, then we ask for additional information. If you have provided too little information during dispute, we may need to re-review or re-interview you.

Having too little information can either be something that happened to do with the transaction or to do with the dispute. For example, if we wish to dispute that your card wasn’t present and the only evidence we have is that you weren’t there and we have no idea what else might be wrong with the transaction.

If you provided too much information during the disputed transaction, the problem may just be that we’ve identified it now.

What are chargebacks?

The point-of-purchase credit card industry is a wild consumer paradise, with the stores naturally becoming its captives.

When a transaction takes place today, the merchant can’t receive payment until it’s been properly processed and the customer satisfied. However, along with all the convenience, POS credit cards are a great target for fraud. So you’d think the merchant and credit card company would be in perfect agreement. But in today’s market, consumers bear the burden of responsibility. If something goes wrong, customers can have their transaction removed and be reimbursed.

Learn more about the Chargeback process HERE.

Bottom Line

Accepting credit card payments online saves your time, saves your company money, and ensures customer satisfaction.

There is hardly any merchant online who doesn’t accept credit card payments, but business owners are often frustrated by the hassle they face to build, maintain, and update their online payment service.

Unless you’re extremely well versed in the finer points of web development and ecommerce solutions, the task of accepting credit cards online can be quite daunting.

There are lots of third party payment solutions available on the market, some of which have a free trial or a free credit card processing option.

Whether it is your first or your hundredth transaction online, credit card processing should be as easy as signing up and starting using your credit card payment solution of choice.

For that, we have created this guide to help you save time, money, and frustration on accepting credit card payments online. Read on, and I’ll show you 4 ways you can accept credit card payments online in no time.