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So you are getting started with your first retail business and you are ready to take care of the cash-taking side. Well, for this endeavor you are definitely going to want to get set up with a credit card processing company, as in today’s age the bulk of your transactions will be in the form of plastic. Nearly every business will accept personal and accept business credit cards, so it’s important to be able to accommodate the bulk of your customers!
The first thing that you need to know about credit card processing companies is how they charge. Out of each transaction, the processing company will take a 2% fee off the total price. (A rather excellent deal for them!). Though this rate tends to vary a little bit and will me less for retail than for e-businesses, it is almost always in the same region. (They also tend to charge a little more for mobile terminals as well.) You will also often encounter a number of small monthly charges, start-up fees, and other various forms of hidden costs, but they are largely irrelevant; once you’re set up, you will more than cover your costs with the ability to accept business credit cards.
How do you select the best company? The most important thing to do is to make sure that the discount rate is low and the consumer rating is high. The best way to check for this is to take a look at toptenreviews.com and JD Power and associates; make sure that the company that you are looking for doesn’t have a history of legal problems and you will be sure to accept business credit cards without any problems!
