How to accept credit card payments online in 2020

Key quotes:

• "But if you want your business to grow, the ability to accept credit card payments is key."
• "Adding credit cards as a payment option for your customers is simpler than you may think."
• "You’ve likely already noticed customers complaining about not being able to use credit cards when shopping with you."
• "Not accepting credit card payments costs US business owners billions of dollars every year."
• "Being able to accept credit card payments also means you can attract new customers online."
• "Think about how accepting credit cards could change your business in the future."

Key quotes:

• "The main concern among B2B merchants is the cost of the interchange fees that come with processing credit cards."
• "With B2B merchants they may end up paying more than they should when they aren’t set up for another payment processing level like Level 2 or Level 3 credit card processing fees."
• "B2B merchants can save a considerable amount on their credit card processing fees by qualifying for B2B interchange rates."
• "To qualify for these B2B interchange fees, merchants provide a string of additional information to go with each transaction."
• "The merchant submits the Level 3 data, they would only pay 1.75 percent plus a 0.10 cent fee for that transaction."
• "With Visa, cards are charged 2.05 percent rate plus a 0.10 cent fee for Level 2 data."

Key quotes:

• "Online payment services let you know immediately if the card holding person has sufficient funds to cover the transaction."
• "Your payment processor contacts your merchant account and the issuing credit card network."
• "The payment processor (who could also be your merchant bank) charges a fee every time that you process a transaction (whether it’s a sale, a decline, or a return — no matter) so that they can make money."
• "Since this varies from processor to processor, the only way to find out is by asking questions like: Customers are cautious when it comes to online payments in 2020, it’s best to ensure them that you’re going to provide them with a secure experience."
• "It’s their responsibility to clear all transactions and make deposits into a bank account when payments are processed."
• "This is a percentage of every sale that merchants must pay to your acquiring bank for accepting consumer credit cards."

Key quotes:

• "By the end of this article, you’ll know the 4 steps you need to take to start accepting credit cards."
• "Finding a credit card processing service and choosing the right equipment can be overwhelming."
• "We’ve broken down the process into steps you can start implementing right now."
• "Once you’re clear on how you want to accept credit card payments, you can move on to the next step."
• "Before you begin accepting credit card payments, here are just some of the additional features you should be looking for from a service."
• "Take some time to really think about what you need from your credit card services and explore the full range of customized features on offer."

Key quotes:

• "Due offers a low flat-rate transaction fee of just 2.8 percent for credit card processing."
• "It works with your existing merchant account so you can accept credit cards, electronic checks, and digital payments like Apple Pay or PayPal via your business’s website."
• "It offers both online and mobile payment platforms, as well as features like recurring billing, hosted checkout, fraud protection, and integration with the most popular online shopping carts."
• "Amazon Payments has proven to be a small business-friendly option for getting paid online since it easily integrates into your existing website and allows customers to pay your instantly for the goods and services you’ve provided."
• "For your customers, it’s a streamlined and secure solution since they can pay you simply by using the payment information already stored in their Amazon.com accounts."
• "If your business requires a tool that allows you to to accept payments both online and in-store, then Shopify is your answer."