Many of today’s young entrepreneurs remember the old school credit card imprinters, like clunky plastic machines that print a carbon copy of a credit card.  Fortunately, in the last few decades payment processing technology has made it easier  to accept credit cards. In addition, payments are packaged with other features such as  online shopping and inventory management by many of today’s advanced payment processing systems. 

In this blog, we learn about how to accept credit card payments for small businesses. and how to accept credit card payments? 

How do you accept credit card payments easily and quickly?

For any kind of business, whether online or offline, it’s relatively easy to accept credit cards, and there are various ways you can make purchases in person or online.

• Online payment: A variety of modern website builds, such as Squarespace, Kajabi, and Shopify, and marketplaces such as Etsy, are designed to make it easier to buy online and make online payment process easy . While most of the website builders come with a secure socket layer (SSL) certificate that ensures customers’s security and privacy for that they might have to use a standalone service while accepting payments over the internet. 

• In-store to take credit card payments: In today’s generation, not only businessmen but also common people must know how to take credit card payments for general awareness. In order to accept credit card payments in a retail shop like a restaurant or store, Business owners need a point-of-sale (POS) system with a card reader or a credit card terminal that can process transactions on its own. 

• Credit card vs. debit card transactions:There are similarities between credit card and debit card transactions, but there  is a difference on the back side also. Card networks work both sides , so the point of sale process is the same as entering information, communicating with a bank, and performing transactions, but At the customer level, the difference is that the debit card transaction immediately withdraws money from the bank account, while the credit card transaction does not.

• Payment service provider vs. merchant account: In the technology era, people still don’t know basic terms about finance like merchant accounts and don’t know how to accept credit card payments for small businesses. Merchant accounts like PayPal, Square, and Stripe; they can be signed up and managed on the Internet. And it’s simple to transfer money into and out of your account for a purpose like a refund, making purchases, or depositing in the bank account.

You will be charged the following standard fees when you pay for a credit or debit card using a payment service: card interchange rate, transaction fees, and service fees. The rate depends on the various credit card companies.

Final conclusion

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