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Posted on Jul 1, 2015 in Small Business

The importance of accepting credit card payments for small businesses

Surviving on today’s highly volatile and competitive market is a challenge especially for small businesses, but it is not impossible. In order to stay ahead of your competition, you require innovation and the loyalty of your customers. Accepting credit card payments offers small businesses the opportunity to attract large-scale transactions. It is common knowledge that credit cards have become the most popular method of payment in every industry and specialists expect cash transactions to decrease in the future as well. This means that businesses failing to offer customers this payment option will lose in the long term. There is nothing more harmful to a business than turning down customers. Therefore, accepting credit card payments should become priority for a small company that wishes to increase revenue.


Overcoming the challenges of accepting credit cards

Credit card processing solutions are available everywhere and they seem simple enough. Getting a merchant account and setting up equipment with a self-install feature is indeed straightforward enough, but for a small business, things are not that simple. Small businesses do not always get approval for a merchant account, while spending money on fees for a couple of transactions per month brings significant loses to the budget. However, setting up a credit card payment terminal is not impossible even for a small business. As long as you do your research and choose a good credit card processor and provider, you will be able to offer safe and easy payment options without paying monthly fees. When it comes to payment procession solutions, there are plenty of options and alternatives available, so you can simply choose one that is convenient and meets your specific needs.


Choosing the right type of terminal

You should choose a card payment system depending on the type of business you own, how you plan to operate it and where you plan to offer services. If you own a mobile business and require the flexibility to take card payment anywhere, you should choose mobile card terminals. Unlike countertop terminals, which are fixed, these machines are portable. What is more, they use mobile phone coverage to ensure you will be able to accept payment anywhere. If you own an online store, you should focus on setting up a virtual terminal that offers secure payment options for your customers. You will find a wide selection of terminals that use different technologies to match the specific needs of any business, so make an informed decision.