How Do You Accept Credit Card Payments for Your Business?

How Do You Accept Credit Card Payments for Your Business?

Sorting out the way your customers will pay you is one of the first things that you need to concentrate on when you open an online business. Whether the payment is via a credit card or any other means, a credible online payment solution should be identified. These can be done with or without a merchant account.

How do you get a merchant account?

Merchant accounts are special bank accounts that hold funds that come in from an online payment with credit or debit card in China. These funds are then transferred to the concerned business on the daily or weekly basis.

It is generally the larger businesses who own merchant accounts as they make more monetary sense on a large scale. If you are a smaller business though, you may want to consider an aggregate that processor the payments through their own merchant accounts and releases the money to the business according to the clauses in the contract.

Are these accounts necessary?

Small businesses often wonder if a merchant account or an aggregate account is necessary to accept and online payment in China. The answer is quite simply yes. You cannot run any e-commerce business without this in place. If you do, accepting payments online will not be a possibility and that could possible affect its growth in the long run.

Setting up merchant accounts and aggregate accounts can be a bit tedious in the initial stages, but one you find the right vendor you have nothing to worry about. Your payments are in good hands.