Good options for small businesses include Square (2.75% per transaction), PayPal (2.9% + $0.30 per transaction), Stripe ($29/month flat rate), and Intuit Merchant Services (2.75% per transaction). Evaluate transaction volume, fees, and features.
You'll need to choose a processor, set up a merchant account, establish a payment gateway on your website, and integrate a credit card payment form so customers can enter their information.
Use SSL encryption, install software updates regularly, educate staff on security practices, limit employee access to data, conduct security audits, have a breach response plan, and choose a processor that prioritizes safety.
Benefits include increased sales by reaching more customers, higher average order values from credit card purchases, improved cash flow with faster payments, and more efficient transactions.
Customers enter their card details into payment forms, the processor contacts the issuing bank to verify funds, then upon approval the funds are credited to the merchant's account.
Yes, with aggregator services like Square and PayPal you can accept online payments without a traditional merchant account.
It allows you to sell to anyone with internet access, offer customers convenient payment methods, stay competitive as ecommerce grows, tap into global markets, and ultimately grow your customer base and revenues.
You may also want to set up shipping solutions like USPS or UPS integrations. Third-party logistics (3PLs) providers can handle warehousing and fulfillment so you can focus on running your online business.
