How to Accept Credit Card Payments?

Accepting credit card payments with a merchant account provides a business with more customer-friendly options. While some shoppers might prefer to pay with cash, a growing amount of consumers only travel with plastic cards. Once a business owner understands how to accept credit card payments, the company can review a variety of credit card readers and point-of-sale solutions.

Why Should a Business Accept Credit Card Payments?

Some business owners might wonder if it is worth the costs to enable customers to pay for goods and services via electronic payment methods.


The reasons shown below are just a few benefits for a business to accept credit cards.

  • Provides convenience for customers
  • Requires less cash-management responsibilities
  • Creates trust via logos from Visa, Mastercard, Discover and American Express
  • Increases checkout speed
  • Generates larger transaction sizes

A great shopping experience does not end after a consumer finds a desirable item to buy. Getting through the checkout line as quickly as possible and without any unnecessary delays is important for consumers, too.

Now, imagine a store that does not accept credit cards and the consumer has a nominal purchase of $58 dollars. The consumer might prefer to pay with a debit card, however, she searches through a large handbag to locate a small purse and proceeds to give the cashier three $20 bills. The cashier holds each bill up in the air to verify the authenticity of the currency then places the bills into the register and hands the customer the exact change of two dollars. In some instances, a merchant may use a special marker to check for fraudulent bills, although, this action also slows down the checkout speed — especially if there is some concern about one or more of the bills.

Also, for the scenario above, imagine if the customer gives the cashier a $100 bill. This might cause the cashier to lock her register drawer, while waiting for a manager to secure the large bill and to obtain change.

Even in the fastest processing time frame to facilitate the above experience, the customer is inconvenienced by the delay.

Business owners who do not accept credit cards could lose some sales from loyal shoppers who prefer to patronize stores that offer contactless payment methods at checkout.

So, here is how to accept credit cards.

Step 1. Determine the Type of Services That are Needed

A business owner will need to check his average transaction size for purchases. Review where sales will take place, such as in-store or online. Decide whether to use a card reader or a terminal to accept credit cards.

Step 2. Speak With a Merchant Processing Company

Representatives from merchant processing companies provide consultation services to help business owners acquire hardware and software to expedite electronic payments.

Based on a company’s needs, a merchant processing rep can suggest a variety of solutions for ecommerce transactions, in-store sales and for mobile payments.

Working with a reputable merchant processing company to obtain a merchant account will ensure that each swiped, dipped or manually keyed transaction gets checked for fraud and for enough funds to cover the purchase amount.

Step 3. Prepare to Accept Credit Card Payments

Linking checkout terminals or point-of-sale equipment to a business bank account will help facilitate credit card processing. Reviewing the credit card processing software, hardware set up and information from the merchant processing company will prepare a business to accept credit card payments.

Step 4. Assist Customers With Electronic Payments

After being set up with electronic payment capabilities, a business owner can instantly accept debit card payments and credit card payments.

As customers are preparing to pay for goods and services, a cashier can guide them to dip EMV-enabled cards into a chip card reader, to tap their credit card for a contactless payment or to swipe their card through the magnetic strip reader.

Contact Valued Merchant Services today for more information about secured credit card processing services.

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