Accept Credit Cards with a Merchant Account 1-2-3

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What is the Best Merchant Account for Your Business?

All businesses are different, and there are a variety of merchant account services that you can choose from to meet the needs of your business.

For example, some companies handle transactions exclusively over the internet, some by direct mail and some in person. Some companies need to deal with payments from different countries, etc.

Here are a basic rundown of the options when it comes to accepting credit cards:

Wireless: This service enables the merchant to accept credit card at mobile locations through a wireless terminal.

Retail: A retail merchant account is generally connected to landline and credit cards are physically swiped through a terminal

Restaurant: A restaurant merchant account pre-authorizes the credit card and charges the card with gratuity.

Card-Not-Present Merchant Accounts: Generally used for mail order companies, this is where neither the customer nor the card is present during the transaction, and the information is manually entered into the credit card terminal. 

Internet: Internet merchant accounts are used for sales made from a website.

When it comes to choosing the right merchant account service for your business, the choice may be clear. However, if you are deciding between a few options or companies, check and compare the rates and fees. Some types of merchant accounts are higher risk, and therefore charge higher fees (for example, where credit cards are not physically present during the transaction). If you can, opt for the lower-rate service.

Which Merchant Account is Right for You?

• Internet Credit Card Processing
  Authorize.Net and TransAction Central for online & web businesses.
  
  
• Wireless Credit Card Processing
  Cell phone processing, standalone wireless terminals and more. Ideal for mobile merchants.
  
  
• Point of Sale Terminals
  Lots of choices, starting at just $99
  
  
• Phone Credit Card Processing
  Use any touchtone phone, no equipment needed
  
  
• PayPal
  Don't want to install software on your computer? Use PayPal's remote credit card processing service on their secure server. Set-up free and no monthly fees - only pay per transaction. Low Rate.
  
  
• Square NEW!
  Square is a credit card reader or "digital wallet" that you can plug into devices like your iPod, iPad, iPhone, Android or Blackberry phone to swipe customer credit cards and accept payments.

Square charges approximately 2-3% per transaction, and you can have money go directly into your bank account. It's ideal for business owners who travel or need to accept payments while they are on the road, (but it is not exclusive to mobile businesses, for example a salon could also use Square). Intuit's GoPayment is also another option to Square. Both services offer the application and card reader for free.