If you are operating a business, you will likely want to be able to accept credit cards from your customers for payments. Accepting credit cards allows you to offer your products and services to clients who may not have cash handy. You can accept credit cards for both an online business and retail location,
Online Companies
Step 1
Sign up for an online merchant account. An online merchant account allows you to accept credit card payments for your Web business. One example you can use is Authorize.net.
Step 2
Customize your virtual payment terminal. After you sign up for an online merchant account, you can accept credit cards through the Web as well as manually entering the information. During setup, you will provide your banking details for your merchant to have the credit card funds deposited into your account.
Step 3
Set up a link to your merchant account on your website. During the checkout process, customers will be redirected to your merchant account page to complete their purchase using a link provided to you from your online merchant account. Over a secure network, the customer will provide his credit card details for processing.
Step 4
Wait two to three days for the funds from the credit cards to be deposited into your bank account.
Step 5
Consider a payment service that does not require a merchant account as an alternative. For example, PayPal allows you to receive payment by credit card as long as you have an email address. Once payment is made to your PayPal account, you can transfer the money to your bank account. You'll pay a per transaction fee for this service.
Retail Locations
Step 1
Visit a financial institution that offers merchant accounts.
Step 2
Fill out an application for a merchant account. You need to provide information about your business, such as earnings, type of business and location. Once approved, you will be given an account that allows credit card payments from clients to be deposited into.
Step 3
Choose the equipment that you need to accept credit cards. You can lease your credit card processing equipment from the bank or purchase your own. You may choose to order your equipment from catalog companies such as POS Savings. At the very least, you'll want a credit card machine to process payments. When you batch the credit card machine at the end of the day, the monies from the payments for the day will go into your account.
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