Accepting Credit Cards for Your Business

March 26th, 2009

Today’s businesses need to be able to accept credit cards in order to compete with other businesses.  This is not only true for physical stores but also for online businesses.  Before they can accept credit cards the business needs a merchant account provider and any equipment required to take the card.  For a physical store it is a POS terminal and for an online store it is a payment gateway.  Both methods work in the same way to get payment authorization they are just different venues.  With e-commerce you do not need a POS terminal just the payment gateway.  The credit card companies take a percentage of the total sale called an interchange fee.  This offsets any overhead the issuing card companies may have.

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Entry Filed under: Business

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