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Cool New Ways to Process Credit Card Payments

Accepting payments from your customers is one of the most important aspects of business.  With more and more people carrying only debit and credit cards instead of cash, it has almost become a must for your business.  Particularly if you run a primarily web based business, or a business that hosts parties in peoples’ homes and displays online, you may want to consider some of the cool new ways to process credit card payments.

These new ways include:

  • Using your Iphone or smart phone.  Using a new technology called Square you can quickly and easily turn your Iphone, Ipad, or Ipod into a credit card terminal.  This device easily plugs into your audio jack and accesses the associated application.  Not only will you have the ability to accept credit cards, but this way you can track them as well as email or message receipts to customers as well.
  • USB swipe devices.  If you have a laptop with internet access you can easily accept credit cards.  A new USB device paired with one of many programs will easily allow customers to swipe their credit cards and make a purchase.
  • A virtual internet terminal is a great way to accept credit card payments.  The downside to a virtual terminal is that there is typically no swipe capability so all information must be entered manually.  The advantage if you have an online website is that not only can you authorize one time payments but set up recurring credit card payments as well.
  • Using 3rd party companies such as PayPal and Google you can quickly and easily accept payment from customers around the world.  While both companies charge a fee for this service, it is much less than you would pay to establish a merchant account at your local bank.  The advantages of PayPal and Google also include an added level of insurance in that they will verify funds immediately at the time of transaction so you don’t have to.
  • Payment enabled software.  Some new accounting software programs being sold now such as QuickBooks include the option to complete credit card transactions directly from the program itself.  While this is also not a terminal or swipe based system it can be a great option for your business if you use these software programs.
  • Traditional credit card machines that connect wirelessly.  If you do a higher volume of credit card transactions it might be worth the time and initial investment to work with your bank or other merchant dealer to set up an ongoing merchant account.  Not only will a merchant account help you tack sales, but they will also assist with providing the best credit card terminal machines as well.  These machines are built to last though thousands of transactions allow you to batch send in transactions at the end of the day, as well as allow you to easily print receipts for you and customers.

Choosing the right way to take credit cards for your business depends on the amount of credit card charges you process, your location and access to the internet, as well as ease of use for you and your customers.

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