| Before you can get a credit card merchant | | | | for your business. Some banks may provide |
| account for your business, you have to qualify | | | | credit card processing as part of your business |
| with a credit card processing company. Credit | | | | service so ask around. Some businesses use |
| card processors need to make sure your | | | | international merchant account companies if they |
| company is financially stable and you are operating | | | | have poor credit, an odd location, or some other |
| a legitimate business so they are not responsible | | | | reason that would hinder them from working in |
| for your unpaid debts. Prepare for a background | | | | the United States. Registered credit card brokers |
| check and get references ahead of time from | | | | can set up accounts with processors and may be |
| your partners and/or suppliers. If you have used | | | | more expensive. |
| a credit card merchant account service before, | | | | A credit card machine can range from $150 to |
| your new provider will want a reference from | | | | $700 for a basic model and can reach $1,000 for |
| that company. | | | | more advanced machines. Leasing options are also |
| If your business is considered a high risk, try | | | | available for about $20 per month. Along with an |
| working with a company that will help address | | | | application and set up fee, you will also be charged |
| any problems with your credit. To determine if | | | | a discount fee for each transaction, which is |
| your business is a high risk, credit card processing | | | | determined by your credit history, charge amount |
| companies will assess your credit history, industry, | | | | and type of transaction. |
| time you have been in business and your | | | | In order to find the right credit card processor, |
| chargeback history. If you have a high percentage | | | | you should compare three to five different |
| of chargebacks and have only been in a business | | | | companies; get any fees in writing and in a |
| a short time, you could be considered a higher | | | | contract; ask about typical timeframes to get |
| risk. Providers are also concerned with credit card | | | | your funds and get their responses in writing; |
| fraud and will consider this risk when determining | | | | review the contract with your business attorney; |
| the rate they charge you. If your business falls in | | | | and work with one specific person with the |
| the high-risk category, typically your fees will be | | | | company you are working with. Once you find a |
| higher and you can anticipate a reserve of some | | | | company that you are interested in working with, |
| sort with your credit card processing provider. | | | | check their references and look for any negative |
| There are four major choices when it comes to | | | | feedback, ask about their policies on chargebacks |
| choosing merchant services. Credit card | | | | and make sure the company has a positive |
| companies may be able to offer these services | | | | reputation. |