For small businesses the decision to accept credit cards is not always as simple to make as many companies that facilitates payments claim. From the difficulty of getting approved for a merchant account to losing money from fees, accepting credit cards can present unexpected problems. Sara Angeles outlines five things you need to know to best meet your unique needs.
Lee Blue gives a thorough explanation of what business owners often overlook when they make decisions about accepting card payments. Getting a merchant account and a payment gateway tied to it looks like a sensible option on the surface, but it is not a good solution for every merchant.
If you are not a large enterprise with a five-digit monthly sales volume, think twice about getting yourself a merchant account and consider all of its costs that go far beyond compelling transaction fees and the setup fee. Choose a merchant account only after you’ve done careful research, or you will find yourself paying more than expected.