In 2018, there were 41 billion credit card transactions in America. And at the same time, the four major credit cards (Visa, Mastercard, Amex, and Discover) had a combined $3.8 trillion in dollar volume.
That's a ton of money floating around your small business.
Needless to say, knowing how to accept credit card payments anywhere should be a top priority. Especially since credit card usage continues to rise at an intense rate.
If your local business isn't already processing credit card payments online, then now's an excellent time to start.
Here's what you need to know.
Small businesses that operate locally typically start out accepting cash and check payments. Then as their business grows, they decide to purchase equipment to accept card payments.
But this isn't the only way of how to accept credit card payments. There are payment gateways out there that enable you to accept card payments from anywhere using a mobile device.
But more on that in a second.
Let's take a look at some of the benefits you can witness by accepting card payments:
The beauty of credit cards is that you can use them in all sorts of transactions. There's the typical POS system many businesses use for "card swipe" transactions.
But this is quickly becoming an outdated method.
Today, you'll find merchants and consumers using other methods, including mobile and online payments.
Some businesses allow their customers to process payments using SMS. Or they'll send a link to an invoice or form that enables them to submit their credit card (or eWallet) details through the platform.
This can be done using a mobile or desktop device as long as you're connected to the web. If this is something you'd like to do, then continue reading to find out how to accept credit card payments in all of its forms.
Not that long ago, it was required to have a POS system or terminal to process customer credit card payments. You may still even find some local and mobile businesses using mobile credit card dongles on their smartphones.
The equipment costs vary, depending on where you get them. But why fork up the money when you don't have to?
With tools like GoSite payments, you can accept credit card payments in person and online without any equipment. You and your customers can complete transactions using a mobile device.
It's free, convenient, and simple to use. So it's definitely worth knowing how to accept credit card payments in this way.
One reason small businesses refrain from learning how to accept credit card payments is because of the cost. Or at least, what they perceive the cost to be.
But as you've already learned, there are cheaper options for processing card transactions. It's all about the payment gateway you decide to use.
Otherwise, you'll end up paying for unnecessary fees for credit card reader equipment. Then some payment processors are shady and have hidden fees on top of:
And the list goes on.
Your best bet is to opt for a payment gateway that's upfront about its costs and doesn't charge you an arm and a leg to accept credit card payments.
What you'll end up paying depends on the payment processing service you choose. Just be sure that the one you pick comes with is flexible.
For instance, it should allow you to start for free and cancel at no charge. You'll also find some gateways offer additional valuable features that enable you to:
Once you have a reputable gateway that shows you how to accept credit card payments from anywhere, you'll never go back.
Processing online transactions is a tricky business if you don't have the right tools or knowledge. This is why it's essential to learn how to accept credit card payments securely.
With GoSite, you have access to a payment platform that's convenient for both you and your customers. Plus, it's PCI-compliant.
Excited about learning more? Then download our free fact sheet on online payment processing today!