If your business is looking to start accepting credit cards it is both painstakingly simple and cost effective for businesses big and small. Choosing a reputable supplier should make the process refreshingly easy and most companies should have you set up with a merchant account in a few days. We always advise customers who are looking to start accepting credit cards to do a back ground check. Read reviews about the supplier, what are the customers saying and are they delivering the correct service that tally’s in with your requirement.
It goes without saying but it is paramount that the business owner understands and makes sense of all the charges before committing to any agreement. If you are unsure ask……… always read the small print and speak with people you can trust on the matter to gauge their thoughts. Most providers who offer businesses the ability to start accepting cards will provide a basic quote for debit and credit cards and it is predominantly a fixed fee the business will charged each time a transaction is made. This isn’t the sole aspect of a merchant account, you have other fees and charges which will be discussed in this guide.
Some companies you speak with will give you fixed rates but most should provide a bespoke quote based on varying factors including the type of business you operate, how much you turnover, average transaction value per sale and where you trade from. It goes without saying but by in large, the more you turnover on cards, the less you should pay on your merchant fees.