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Accepting Credit Card Payments


A few decades ago, it would be reasonable for businesses simply to offer cash as a payment method for their business. Of course, things change extremely quickly and the majority of consumers expect to walk into almost any store and purchase their items by using a store that is accepting credit card payments. The problem is, there are still a lot of businesses that are accepting cash only and therefore, they are losing out on valuable sales. With the economic climate as bad as it is, businesses really can not afford to be losing out on these sales and they must do everything in their power in order to try and get them back.

How does it work?

To start accepting credit card payments, a business owner must first find a merchant that incorporates these services. A merchant will be the facilitator of the transaction between the customer and the business. They will take the details from the customer and process them through the payment gateway and finally, tell the business owner if the payment has been accepted or declined. Generally, businesses that operate from a store will use something called a credit card terminal. These terminals are used to insert the consumers card into. Once they enter their pin, the process mentioned above will take place and the payment will hopefully, be accepted.

Selling online

Accepting credit card payments is something that is an integral part of online businesses. The great thing about accepting credit card payments online is that the business owner, or a member of staff, does not actually have to be present in order for this to happen. Instead, the business will incorporate an online form, that is filled out by the consumer. Once the consumer sends their order off, the payment gateway will automatically process the payment on behalf of the business. What this means is that businesses online can be selling all day, every day. Of course, in the long term, this means that they can easily increase their capacity in terms of online sales, as no member of staff has to spend time processing the order.


Transaction size

It is a well known fact that accepting credit card payments is a great way to start improving the turnover of a business. A lot of business owners assume this is simply because if they offer more payment methods, then it is likely that they will get a bigger range of consumers. Whilst this is true, it is the size of the transactions that really makes a big difference. What most people do not realize is that the average credit card transaction is approximately four times the size of that of a cash transaction. So a business could quadruple their turnover, simply by accepting credit card payments!



Accepting credit card payments is something that consumers consider to be normal these days. That being said, there are still a huge number of businesses that are not currently accepting these payments. Of course, it is these businesses that are losing out on new customers and on extra turnover and profit at the same time. Accepting credit card payments opens plenty of new doors. For instance, it allows the business to sell online without any extra admin help. This is because online orders will be processed automatically, rather than a cashier having to take an order over the phone.

Technology and business are both changing and businesses need to change with them in order to be successful. Remember, accepting credit card payments could increase the turnover of a business by up to four times the current turnover, which represents a lot of money.

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