Learn How to Set Up Small Business Credit Card Processing
Fees You Should Avoid
- Termination fees
- Customer service fees
- Statement fees
- IRS fees
- Batch fees
- Annual fees
- Contract fees
- PCI compliance fees
Step 3: Accept Credit Card Payments
After establishing your merchant account, you’re ready to take credit card payments. This might be as basic as login into a software product or inputting payment information for a customer.
Whatever solution you choose for your company should be basic and straightforward. You may need to set up your equipment in some circumstances (i.e., POS system, credit card readers, etc.)
Whatever solution you choose for your company should be basic and straightforward. If you don’t like the payment processing services you’re getting after a few months, switching processors should be simple—unless you signed a contract.
Many contracts will need you to pay a substantial termination fee to cancel. Attempt to waive the fee, or select a processor that does not require contracts.
