We Accept Credit Card Payments On Our Store Leave a comment

Many small business owners can make it easier for consumers to pay by linking up with a credit card processor. Yes, these payment processors charge transaction fees, but they may be offset by the larger transaction amounts that often come along with accepting credit cards.

How do credit card payments work?

When a customer swipes, inserts, or taps their credit card at your physical payment terminal, your payment processor exchanges a series of messages with a customer’s financial institution, which chooses whether to approve the payment.

How to accept credit card payments

Before you can accept credit cards, you must set up a bank account. Small business checking accounts will allow you to receive your income from credit card companies. From there, getting set up to receive payments depends on where the commerce is happening: at a brick-and-mortar shop, online, or on the move.

How to accept in-store credit card payments

In-store payments take place inside a traditional retail store, restaurant, or office. If your business operates in a physical location, you will need the following services and equipment to accept credit card payments.

How to accept online credit card payments

Online credit card payments, also called e-commerce payments, cover financial transactions made over the Internet. The transactions on your Shopify e-commerce site count as online credit card payments.

The online payment system functions in largely the same way as the brick-and-mortar payment system. Payment processors still transmit financial information, and customers’ banks and credit card companies either approve a transaction or reject it. As a seller, you can still expect money from these sales to hit your bank account in one to two business days.