Accept Credit Card Merchant

i am a merchant and i already have a cardnet (from LLOYDS TSB in the UK) to accept card payments. However, i rarely use the machine as sales are normally paid through cheque by our customers. the charges are, i find, very expensive. are there any cheaper options for me available? i know of paypal but does paypal only work over the internet? how about if i want to accept payment over the phone? are there any other cheaper alternatives you know of? thanks

paypal.

2008-01-26 14:12:33 by alet

www.merchantcashadvance.com accept credit card merchant, online payment processing, fast loan, unsecured small business loan, merchant cash advance.

I am starting my own online business and need to accept credit cards. I have looked at the services that paypal web payments standard have and like them. However i need to know if i have to have a merchant account or can i just use my own/business's account ?

No. That is what Paypal is all about. They act as your credit card processor. Just be sure and get setup well in advance of your first transaction as it takes a number of days to get setup due to bank verifications for your account for deposits.

2009-03-14 11:46:00 by PAssport

Is it possible to get set up to accept credit cards as payment for goods for a one-off occasion? If so, who can this be done through? Any pitfalls?

It can be done via PayPal as it has been suggested, but sometimes that turns into a headache. You can also do it through a legitimate merchant processor. I work for TransFirst and what I can do is set-up your account as a seasonal account, which means that you will only be charged for the months that you use the service. After your done, we turn your account off and you will not receive any charges at all. We also have our own virtual terminal or we also rent physical terminals on a month-to-month basis. Let me know if I can help you with anything.
jsolarte@transfirst.com or (888) 729-3539 x250.

2006-09-07 10:16:37 by BB

I have my own small buisness(salon booth renter) and I need to be able to accept credit cards but the merchant for the bank the salon uses wont approve me even with co signer. Is there another way I could accept credit cards? Like should I try another bank than the one my salon uses like maybe my personal bank which is a credit union, do you think it makes a difference?

The first problem you have is that yo are going to a bank. The reason i say this is a bank does not handle merchant account. The are just the middle man and have different policy for merchant accounts. You want to go to a merchant services company to get an account. Why this is important to you is because of your business type. You are a hair salon and this one of the easiest accounts to get approved.
I had answered a similar question early so I pasted part of the answer here.
2nd options is opening a merchant account. These types of account is for retail locations, over the phone orders and ecommerce. This system is very fast, run a card and within seconds the customer is either approved or decline and then on to the next one. The pros are that you are protected against chargebacks, you receive your money in1-2 days and you have complete control over you account. The cons are it may cost a little more upfront for equipment but most companies can offer inexpensive equipment or possible free. As far as credit score go, merchant services companies are just like any other finance company. Some have very strict policies and some not so strict. Working in the merchant services industry myself I know certain companies that won't touch anything under a 650. On the other hand I know of companies that have a min required score of 500. The nice thing about this is that unlike a finance company which will charge you more because of poor credit, merchant services companies do not. It is either you are approved or not, but you still receive the same price(% rate) regardless of credit score. The last thing is, it also depends on what type of business you have (restaurant, gas station, hair salon, etc) certain companies have an automatic approval policy based simply on the business type. Which means if you business type falls into certain "preferred business type" you will be automatically approved regardless of credit. In the industry we know certain types of companies work better and have less issues than other. To give you an example, if you are a restaurant and go into a bank and try to get a loan, 9-10 banks won't even look at you. However in the merchant services industry if you want an account you will be approved 99.9 out of a 100 times. A merchant services account is just an open line of credit, just like a loan. If i had a little more info I would be able to give you exact details. Hope that this helped. If you need any more info don't hesitate to ask or email me.

2009-03-04 18:08:10 by Vanessa♥

Can you recommend any great companies I could use to obtain a merchant account? What is the criteria companies use to issue or deny a merchant account to online stores? Thank you.

Paypal offers this type of service

You must have a business paypal account setup

they are much cheaper (in fee's etc) than the normal merchant account providers


ps: I have used them for my online company and have NO PROBLEMS

2008-01-03 06:53:59 by sdn90036