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Modern Day Ways to Accept Credit Cards

Updated on January 14, 2012

Credit Card Processing for Small Business

I decided to write this hub because I have learned about how intricate the credit card processing industry is and the many ways to accept credit cards that are in operation.

I am not just writing this hub for merchant's who already know how vital accepting cards is to their business, I want to provide an all round informative article so that start-up businesses can also get an insight.

I won't lie, card payments are not suitable for every person who owns a business and not everyone is guaranteed approval for a merchant account but you must remember that their are hundreds of thousands of other businesses who do accept cards. If you think it is too much hassle and too expensive to invest in the equipment, you would be wrong and you can't afford to miss out on this revenue stream and let your rivals beat you to the punch.

Virtual Terminal by Sagepay

Card Present Transactions

The most obvious and well known form of card transactions occurs face-to-face and the risk factor for this type of processing is greatly reduced this way. If you want to accept credit card payments with modern day card terminals, you can choose between static counter-top devices, partially mobile and fully portable machines depending on the nature of your business.

A third party provider will help you in regards to the documentation required to get approved by an acquiring bank and they can offer much cheaper transaction fees than if you were to approach a bank yourself. The merchant services provider buys and sets up merchant accounts and terminals in bulk, this way they can negotiate deals and they know from experience whether you are likely to get accepted.

Virtual Terminal

Lets say your business also takes a large amount of orders via telephone and mail order as well as in store, you will need to be approved for a specific 'Virtual Terminal' merchant account separate to your main merchant account.

A PSP(Payment Service Provider) such as Sagepay will handle your processing with customer issuing banks for you and will also acquire the merchant account. After you have been accepted you are given a unique log in page where you can enter customer card details whilst talking with them on the telephone, you can also customize reports to provide information on your marketing niches.



eCommerce is probably the most rapidly evolving form of payment processing and is often wrongly identified as simply the act of inputting a customers card details.

eCommerce is increasing in popularity as customers enjoy the ease of purchasing without the need of visiting the high street, security features are also being stepped up with the aid of 3D Secure and VeriSign which prompt the user to enter an additional pin-code before the transaction is processed.

eCommerce actually refers to the whole procedure from logging into a PSP such as Sagepay and setting up your specific features you want available to consumers, monitoring live reports, as well as handling delivery and invoicing.


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