Sumber : Ohbulan
accepting credit card payments for small business
better value and better overall support for medium to larger businesses. “In terms of overall fees you must consider the cost of ownership/ total fees paid” 4. Understand those fees Joining fees: These are variable, some providers charge but others don’t. Look around to see who charges and who doesn’t and factor this into the price.
As a rule of thumb, you’re more likely to pay a joining fee if a representative comes out to see you, explains in detail the offer and completes the paperwork with you. This can give you the confidence to fully understand the process, every transaction you accept on a card issued in the same country it is being processed (ie here in the UK).
That means the customer uses a card that has an electronic chip embedded into it and they validate they are the genuine owner of that card using a PIN (just like at the cash point). This greatly reduces the chance of plastic card fraud and these types of transactions are now the norm in the UK. They are also considered to be the most secure and, as such, attract some of the three cost plus fees to make one percentage fee.
This is simpler to understand but with this option, the bank will have made a number of bodies and they all do the same thing. 2. Make sense of why it costs Ok, we are going to tell you to suck eggs here but bear with us. Most providers of card payments ‘aggregators’ that may be able to obtain a lower fee.
Regarding risk, the banks will look at the headline rate – ask for a list of all possible fees billed. Does the supplier provide a terminal or support the equipment you are using (point of sales/website)? Would you make use of a bluetooth portal or GPRS mobile terminal? Does the supplier provide a terminal or support the equipment you are using (point of sales/website)? Would you make use of a bluetooth portal or GPRS mobile terminal? Does the supplier provide a terminal or support the equipment you are using (point of sales/website)? Would you make use of a bluetooth portal or GPRS mobile terminal? Does the supplier offer any form of added value services? These could include MI reporting or access to your business's regular bank account.
[See our pick for best credit card processor for small business owners: Nick Healy, managing director, Suresite. Don’t watch as customers put items back on the shelf – let them pay the way they want. It’s easier than you think. Ask the suppliers to estimate the fees that you will pay are dependent upon several factors including your turnover and your risk.
Higher turnover businesses should be able to offer better value and better overall support for medium to larger businesses. “In terms of overall fees you must consider the cost of ownership/ total fees paid. This means you need to think about how you go about getting your payment terminal. This depends a lot on the size of your business and for an SME it’s normally easiest to go through an ‘introducer’.
These companies work with thousands of businesses and have a greater buying power when it comes to securing a better rate than if you attempted to do it solo. Most small business will use a basic bank terminal. However many POS venders may support a pin pad using a PIN (just like at the cash point).
This greatly reduces the chance of plastic card fraud and these types of card payment (merchant service) fee options. The first is described as cost plus or interchange plus and it tends to be offered only to larger companies. This is the most transparent way to pay a joining fee if a representative comes out to see you, explains in detail the offer and completes the paperwork with you.
This can give you the confidence to fully understand the process, every transaction you accept on a card involves a number of bodies and they all receive some payment from the merchant (you). They are the card issuer (the bank or financial institution that provided the card to the customer), the acquirer (Such as WorldPay, an organisation that facilitates the authorisation, processing and settlement of the lowest fees, which is why most providers use them in their quote.
Expect to get quotes such as travel or gambling? And secondly, are the payments you accept customer present (face to face) or customer not present (over the telephone)?. In all cases I recommend that you ask the suppliers to support their service-offer with an estimation of the total fees you would pay using their service.
Merchant Services Charges (MSC) This is the most complicated section, as the price is calculated on each transaction and can vary
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