Many small business owners think they can’t afford to take credit cards because the credit card merchant service fees are prohibitively expensive. On the contrary, so many people today carry credit and debit cards instead of cash or checks, you can’t afford not to accept credit cards.
Discount Credit Card Merchant Services
Certainly all merchant services are not created equal. You should definitely shop around for the best rates. You may find that you can accept credit cards and pay just 1.9% for credit card merchant service fees.
Many merchant service providers also offer wireless credit card reader solutions. These readers and reader services range in price from just $75 to $750. For $75, a small business person can just enter credit card numbers, expiration dates, and transaction amounts into credit card processing iso programs a cell phone. For $750, the credit card merchant service provides a wireless, battery-operated credit card swipe terminal with a large display, integrated PIN pad, and integrated receipt printer, with a copy for the customer and a copy for the merchant.
These portable handheld devices are great for business owners who sell at craft fairs, flea markets, farmers’ markets, fairs, food carts, and other remote outdoor locations. You can literally operate your business from the trunk of your car or your tailgate.
Online Merchant Services
Several merchant service providers handle online purchases, but PayPal is the king of them all. PayPal appeals to online customers because, using PayPal, they can open an online payment account that links directly to their bank account, without giving up credit card numbers, expiration dates, and secret codes. However, customers who don’t mind giving up that information can use PayPal from a credit card or bank account.
Online merchants like PayPal for the same reason. Checkout is easier than ever because PayPal handles the credit card transaction – taking the card information and collecting from the customer’s bank card provider. Online merchants can honestly say they accept credit cards, but the customer will have to establish a PayPal account at checkout. Most online shoppers are aware of this distinction, however, and many already have PayPal accounts, so don’t worry about turning your customers off when they have to use PayPal for their purchase.
If you are a small business owner, don’t be afraid to take the plunge into credit card merchant services. Build the small additional cost into your cost of doing business, and watch your sales soar.