Most businesses can benefit by accepting credit card payments, given the fact that many customers prefer to pay by credit card. The world is moving away from paper and shifting to electronic solutions, so keeping your business modern is essential to keeping your clients happy. The conversion might seem a bit daunting at first, but the good news is that credit card processing has become pretty straight-forward.

In order to start accepting credit cards, you’ll first need to decide on a payment processor, which is the company that will handle all of your credit card transactions. There are a plethora of payment processors on the market and you’ll want to evaluate both the front-end and back-end processors.Front-end processors will have all the tools for full credit card processing, including card associations, supply authorization and settlement services, while the back-end processor will use the services of the front-end processor to accept settlements.

Like it or not, security is always at the forefront of your customers minds, and thankfully, credit card processing has also come a long way in this arena. The majority of credit card payments used to be very susceptible to fraud and misuse, but rigorous transaction checks have changed the security landscape of credit card payments considerably over the past few years. When a business takes a payment from a customer, the payment processor will check the details before forwarding the payment to the issuing bank. The transaction will then need to be verified by the bank or card association. Payments are always subjected to anti-fraud measures before any transaction is verified. This process offers a higher level of security not only to the customer, but also to the business that is accepting the payments.If the payment is approved, the payment processor receives confirmation and relays this information through a payment gateway to the merchant in question. After this, the transaction will be complete. 

Accepting credit card payments over the phone, on the internet or in person has become a lot easier as well. All you need is a credit card terminal and the services of a credit card processor to get started.   Just remember that a credit card processor is ALWAYS needed when accepting payments and each payment processor will have a variety of different charges and costs. Doing a bit of research before you choose a payment processor is highly recommended.

If you’re in need of a credit card processor, contact us at 866-944-3244 or sales@servistree.com today.  Our solution is perfect for small businesses that accept $5,000 to $25,000 per year.  As a credit card processor, we charge 2.75% for swiped payments, 3.50% for key entered payments, and only $0.29 per transaction. This is available for customers at $10 a month. There are additional options for next day funding, no contracts, no early termination fees and no PCI compliance needed.  Learn more today.