When you are starting a business you will need to consider how you expect to process credit cards. This is done through a process called a , there are variety of different accounts available and which will suit your needs best will depend on the type of business and physical set up you have available for you company. Gone are the days where business only accepted cashed or paper check.
We are now living in a virtual world where plastic is the way to pay. Your business will not have a chance of making it without accepting credit cards and obtaining a quality and consistent credit card processing account to do so. Depending on the type of business you run you may take cards physically in your location where the customer would actually physically swipe the card or you may obtain the information over the internet through your online webs store. No matter the type of platform you use it is important to be sure you are considering all options for your business.
Merchants accounts are accounts with a band or payment processing center that allow you to actually physically accept and draw money from the credit card for your businesses products or services. Many different platforms exist including physical locations, ecommerce and telephone processing. The beauty of excepting credit cards it will allow you to have customers from all the world opening many opportunities for you to grow your business. There are just cbd gummy bears of merchant service accounts which are card present and card not present accounts. These basic types also have a variety of subgroups, which we will discuss in detail below.
A card present account is just that, the card is present at the time of swiping the card on the transaction.