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As a start-up business, you’re going to have a lot of factors to consider before you can get your business up and running, one of the main ones being how you’re going to take payment. It is essential that you choose a payment processor that can provide everything that your business and your customers need – this can be anything from security to the type of payments you allow. Card payments are one of the most popular ways to pay these days, so ensuring you have the facilities for this is key. Below, we’ll look at various methods of payment, and how they could be beneficial to your new company.
You may find that when starting a business, you need a bit of extra help to get everything in place – apply for business loans online and you could get an injection of cash to get your company up and running, so you can be on your way to making it a success.
How a start up business can accept card payments?
Methods of payment
There are a few ways in which you can decide to take payments as a new, start up company and this is one of the things you’re going to have to think about before choosing a payment processor. If you operate in a shop or premises, you’re going to need a card reader that can take payments easily and effectively from your customers.
If you mainly operate online, you’ll need to look for a company that can offer you a payment gateway, that offers secure transactions to your customers via your website or chosen e-commerce platform. If you’re likely to be taking customers’ payments over the phone, you’re going to need to choose a processor that can offer you a virtual terminal.
These are all ways that start-ups can accept card payments – all you must do is decide which is most suited to your company, and then decide which processing provider can help you with this.
In-store card payments are one of the most common types of payments, along with cash. By offering the ability to pay with a card, you are appealing to a huge number of your customers – it is convenient and means a smoother purchase process.
It also allows your customers to purchase larger items that they may not have the cash on them to be able to facilitate. If you’re a small business company or a start-up, card payments can improve your cash flow with the ability to be deposited quickly into your bank account. In-store card payments have a few benefits, like security, and hygiene.
Online card payments are transferred electronically and use a payment gateway to authorise credit and debit cards. Online card payments are becoming more popular, they are used as a fast way to make sales and are generally a faster way of getting paid.
You’ll need to choose a processing provider that can operate a gateway to facilitate these payments for you – you should choose a processor that adds up both products, shipping costs and if there are any taxes involved. Digital wallets are becoming the norm, which means more businesses are going to need to implement online and mobile payments sooner rather than later.
Take your time to research which platform is going to be most beneficial to your business when it comes to choosing a card processing provider. As above, if you mostly deal with customers face-to-face, maybe you’d benefit from a terminal that can produce receipts, or maybe you need a processor that can work with your e-commerce site. You should also consider how many transactions you take, as this can have an impact on the card processor that you choose.