![]() This is usually very simple and can be done from the POS terminal. (the Zettle card reader does not integrate with Square POS, as an example). Your card machine needs to be compatible with your point of sale (POS) system, and your payment gateway needs to be able to integrate with your ecommerce website, in order to successfully take payments – so check compatibility before choosing providers as this is crucial for seamless payment processing. ![]() ![]() Step 3: Choose a POS system and payment gateway that are compatible They usually involve contracts, and set monthly fees to cover costs like PCI (Payment Card Industry) security standards.ĭuring your research, make sure you compare fees, as these differ depending on the platform (our □ free expert quote finder tool can take care of this step for you). Merchant accounts supplied by banks incur fees that are dependent on the volume of card transactions you take per month. It’s also guaranteed to improve cash flow, as money can be digitally transferred, instantly. You don't necessarily need one, but it is much easier to accept payments with a small business merchant account.A merchant account is a type of bank account that enables businesses to accept and process various forms of electronic payments such as credit and debit card transactions, providing a way to securely receive funds from customers.ĭoing so won’t just help to improve the customer experience. Those who want to take payments over the phone should look for a virtual terminal.Online vendors will need a payment gateway.Brick-and-mortar stores selling face-to-face should use a card machine.Broken down, the four steps to be able to take card payments are: Step 1: Decide how you want to take card payments Today’s customers expect the ease and security of being able to pay by card, which means small business owners need to know how to take card payments. The ability to take card payments may be the thing that keeps your business afloat – so if you're ready to future-proof your business, read on for a quick and easy rundown of how it all works. During the harsh conditions of the cost-of-living crisis and the current consumer price inflation, consumers have less disposable income to spend with businesses so any minor inconvenience could be a dealbreaker. Enhanced security: by sidestepping the need to hold substantial amounts of cash on-site, you can help safeguard your business against crime and potential security breaches.Īnd that's just the beginning.No more check-chasing: with card payments, you won't be at the mercy of customers sending checks instead, transactions become seamless and timely.Card payments often land in your bank account faster, maintaining a healthy cash flow and saving you those extra trips. Quicker money transfers: say goodbye to queuing at the bank.You can cater to all customers: In a world where wallets are lighter on cash, accepting card payments ensures you don't miss out on sales from customers who've left their notes and coins at home.Mobile recently overtook cash as the most popular way to pay in the UK, which proves that embracing card payments isn't just a convenience-it's a strategic imperative that can reshape your success trajectory.
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