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The Best Credit Card Processing For Small Business Owners

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The Best Credit Card Processing For Small Business Owners

By Marco Carbajo, Guest Blogger
Published: September 10, 2013

Are you looking to accept credit cards from your customers? Is building your company's creditworthiness essential to you? In this article, I'm going to share with you how to determine which merchant for credit card processing would be best for your small business.

Let's face it, there's no lack of merchant suppliers both online and offline providing a whole set of amazing tools for simple credit card processing such as virtual terminals, mobile credit card readers, credit card equipment and so on.

The bottom line when it comes to credit card processing: more attention should be paid to fees rather than the bells and whistles.

Instead, in today’s fast-paced world, more attention is paid to speed and easy setup when it comes to accepting credit cards as a small business. However, the important thing to realize is that going with “fast and easy” is not always the best and most cost effective.

Simplicity is expensive, so before you decide to use a turnkey payment processing company and pay costs from 2.9% +.30 per transaction, take some time and research ways to receive much lower fees for credit card processing.

The fact is that if you are a small business and you wish to get cash from clients by means of credit cards, then you need a merchant account. A merchant account is what you utilize to accept credit cards, get cash and make money as a business.

Typical merchant account companies can charge up to 5% of everything a company earns with prices consisting of merchant processing costs, gateway fees, interchange costs, Visa, MasterCard, American Express charges, statement fees and so on.

In time these expenses could add up to a great deal of money; that's money your business is not taking in. Every penny being paid is cash your business is not making.

What if you could reduce your existing credit card processing fees 25%—50%?

While regular rates go from.41% to 2.19%, some merchants specializing in small business have processing fees ranging from 0% to.36%.

In addition, why not choose a merchant provider that reports your company's repayment history to a major business-credit reporting agency?

Having a merchant provider that provides low credit card processing fees while enabling your business to establishing its own creditworthiness is an ideal solution for a small business owner. When searching for the best merchant to supply credit card processing for small business consider these two main factors before making a decision.

  1. Low processing fees
  2. Building your company’s creditworthiness

These two ideas are basic, yet incredibly effective for a small business owner. Don’t let “quick and easy” replace being cost effective and efficient.

About the Author:

Marco Carbajo
Marco Carbajo

Guest Blogger

Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. He is a business credit blogger for Dun and Bradstreet Credibility Corp, the SBA.gov Community, About.com and All Business.com. His articles and blog; Business Credit Blogger.com, have been featured in 'Fox Small Business','American Express Small Business', 'Business Week', 'The Washington Post', 'The New York Times', 'The San Francisco Tribune',‘Alltop’, and ‘Entrepreneur Connect’.


Hello I've been in crafting world for quite some time... It seems lately that I have found events that I would do well in but I want to be ready for awesome results in accepting credit cards as well... please advise what products would best fit thank you for your time
I agree a business owner should indeed do some research before signing with a credit card processing company. There are no shortages of reputable as well as disreputable companies out there. ---This post was edited to remove a commercial link. Read our Rules of Conduct for more Community best practices.
Hi Marco, can you share your credit card processing merchant? Sincerely, Logo Mania Vicki (Edited to remove email address by SBA.gov moderator)
Hi Marco can you please share the name of the credit card processing company you mentioned on your 7/7/2014 post .I am in need of one right away . Thank you !!
I am the owner of a company searching for a software platform to process a gift card program for many companies, gift cards that can be sold in any store and can be activated on the registers to be used in other commercial establishments. I am located in Honduras and there is no such program for gift cards in the country. Can your company help us??
I'm having a terrible experience with Amazon Local Register. It is a new service from Amazon that works only with some smart phones. I started to use it about 4 months ago and they said that the collected funds from the transactions were going to be held by them for 2 weeks for new accounts for the firts 6 months. A couple of months went by and they started to release my funds right away for about 4 weeks. Now the sent me and email stating that for "security" reasons they will hold as a deposit the amount which average the total transactions for the last 14 days and release the amount above that. I never had a charge back on any transaction. I think Amazon is using the collective funds from all of us to subsidize their company. I have an impeccable financial record on my 21 years in business and a personal one also. I wish I could start a class action suit. They are taking advantage of small business owners with the pretext of security. Of course, I'm looking to find a new credit card provider. Think twice before signing up for Amazon Register.
Hello Bioelectric, Sorry to hear about your trouble. Have you selected another provider as yet? I would love to discuss this issue further, and provide a better solution that meets your needs. There is no obligation in speaking with me, as I am a mentor for small business start ups in the area. Please contact me at keeysturn@yahoo.com. Thank you.
Thanks Marco for sharing the post. In the credit card market, businesses are bringing leading-edge technologies, attractive business models, and comprehensive marketing strategies to a well-established marketplace. Card issuers must respond to the challenges of attracting and retaining customers while dealing with delinquency and customer churn.
Do any of these merchants accept and process multiple payment types, including credit, debit, EBT, gift, and loyalty?
Hi Laura, Checking to see if you have received the answer to your question. If not, please contact me at Keeysturn@yahoo.com. Sounds as if the company they were referring to is my processing company. We offer all type transactions. I will be able to help, or point you in the right direction. Thank you.


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