These days it's all too easy for consumers to take their business elsewhere. While credit card acceptance is certainly convenient to customers, businesses can also benefit by signing up. Once a credit card transaction takes place, funds are transferred to your account within days. They include merchant banks, third-party processors, independent sales organizations and associations. And the good news is that even if your company is a start-up or has poor credit, you may be able to find a provider that will accept you.
Some providers actually specialize in high-risk businesses.
If your business has never accepted credit cards before, your set-up costs will stem from the purchasing of equipment or software. If you'd rather not buy a terminal up front, you can lease one. Besides set-up fees, there are several ongoing costs related to credit cards. The primary charge you'll encounter is the discount rate. It ranges from 1.5 percent to 3 percent for each transaction.