4 steps to getting started with credit card processing and payment processing

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MERCHANT STRONHOLD MERCHANT STRONGHOLD IS THE #1 HIGH RISK MERCHANT SERVICES PROVIDER


 BETTER PAYMENT PROCESSING When you set up a new business, along with many things that need to be sorted out you need to figure out how you would like to accept payment from your customers and this is one of the major obstacles, which most of the new business owner’s face. When you think about payment process, there are a few questions that need to be answered to find the solution.


THESE QUESTIONS ARE: Type of payments to be accepted Pros and cons of the chosen payment type Cost related to payment method.

When you are learning about payment processing, you should get knowledge about all the possible payment methods in detail. Out of various methods, Credit Card is the most popular as well as preferred payment method among customers.


4 STEPS TO BETTER PAYMENT PROCESSING Setup a merchant account: To carry out an online financial transaction, we need to open a bank account to be able to accept payment online in multiple ways (credit card, debit card, net banking). This bank account is called merchant account. A merchant account is an account with a card merchant processor, who underwrites and settles transactions made online and payment processor is the company that underwrites or facilitates transactions.

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FEE CHARGED When you open a merchant account and start accepting payments, banks charge you a fee. This rate varies from bank to bank. This fee is discussed at the time of opening a merchant account and it also depends upon the type of transaction you have opted to process.

TRANSACTION TYPE The physical presence of card: It is a method in which customer swipes his/her card on POS to make a transaction. In simple words, it is a way of payment in which customer’s credit card is swiped physically through a credit card terminal/machine. No physical presence of card: In this method, a card is not physically present at the place where payment is being done, rather it is done online or on phone or credit card details are typed manually to a credit card terminal. This method is commonly known as MOTO or Mail Order/Telephone Order.

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GETTING TOOLS After opening a merchant account and choosing the type of transaction, you must get started with the credit card processing. Once the account is opened and you start accepting the payment from the customer for the purchases they have made, it is necessary to manage the payment and for that you need proper tools. There is various software available in the market for payment processing, but you need to choose the one depending upon your business type and need, but before choosing any of the software to be sure that it is compatible with your merchant processing account.Â

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THESE TOOLS/SOFTWARE BE ANY OF THE BELOWSPECIFIED TOOLS:

User-friendly software is better for online payment processing and order fulfillment. You can choose software which provides a better combination of receivable and payment processing. It allows you to manage both phone orders as well as recurring payments. POS or Point Of Sale is an easy-to-use and secure terminal for card reader processing. There are even software solutions that provide almost all of the above features.

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CONTACT INFORMATION: Address: 10300 49th Street N Suite 427 Clearwater, FL 33762 Contact No: +1 (888) 622-6875 Fax Number: +1 (844) 465-4723 Email: info@merchantstronghold.com Website: https://www.merchantstronghold.comÂ

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