Starting a home-based business can be a great thing, however, there are a few things to consider. One of them is whether or not you can accept credit card payments. Your customers will appreciate the ability to use a credit card when purchasing their products from you and your business.  The ability to accept such payments will give your business more credibility and your business will appear to be more established if you can accept credit cards.

There are several ways to go about this. It can make your business life much easier if you are able to accept credit card payments. You’ll be able to see that payments have been made and that the customer has the balance so that it can cover the cost of the purchase.

Use A Merchant Account

Merchant accounts are an ideal way to go. Your credit card payments will be safely deposited to your account and you can use PayPal or another independent sales program to process the payments for you. This can free up a lot of time for you and it’s very convenient for your customers.

If you don’t have a lot of sales, you can use this, and it will actually save you money. There won’t be any excessive fees and it will give you the funds. If you have a higher volume of sales, you can go with another option. It can be difficult to be approved for a merchant account with a bank as many of them don’t want to give credit card processing capabilities to home-based businesses.

This is why you may have to go with an independent sales organization that is affiliated with a bank that encourages the business relationship with an affordable merchant services company.

. Many independent sales programs let merchants use a co-signer to improve the credibility.

If you’re going to a bank or an independent sale program, your name will appear right beside of the purchase amount when the customer receives their statement from the credit card company. Your customers are far less likely to recognize this and may request a chargeback due to this. It’s a long and expensive process and can cause you a lot of loss of revenue.

There are many companies that have limits to the processing and others are more generous so you’ll want to look at your options carefully. A lot of the third party processing companies have a lower cap on the monthly volume and the higher ticket amounts.  As your business matures and grows you’ll be able to anticipate more transactions. This can help to improve your credibility. If you have lower processing limits you may not be able to accept credit cards over a certain dollar amount. This can greatly reduce your cash flow.

If you’re going through an independent program there shouldn’t be any issues getting paid by credit cards. Most of the Merchant Account providers have special deals for home-based businesses and you can get in on one of these deals and shop around for the best one for your needs.

Getting Paid Via Credit Card

Once you’ve secured a merchant account, you’ll have to have a way to accept the payments. If you have a website, you can set up a gateway there. Use a shopping cart and that will allow your customers to load it up and buy what they wish from your catalog. This can interface with your website and offer you the best convenience. It will also result in reduced loss of sales as the customers won’t have to redirect to go to another site for payment. This would give them too much time to change their minds.

There are virtual terminals that you can use if you’re not running a website. This will require that you use a third party and enter the customer’s credit card information to authorize the payment. Such services as DialPay allow this touch-tone phone to use the credit card info. You’ll know immediately if there are sufficient funds. You can also buy or lease such equipment that will allow customers to swipe their credit card on your phone or tablet if you’re interacting with them in person.

Always Comparison Shop

Credit card processing methods are ever changing so always make sure that you are comparison shopping. As these change, you can adjust your methods so that you can change them up as required for your best interest as well as your customers best interest. There are many great companies out there that will cater to shopping carts and other similar methods for payment.

Your goal should always be to keep your customers on your own site so that they are always looking at the great deals that you have to offer. The more options that they see the more likely they are to stay on your site and perhaps even purchase more. Make it easy for them to stay on your site and give them special deals as well. You’ll gain more sales. Shop around and take your time and update your methods often so that your customer has more than one way to pay. The site that has 3 options is always preferable over the site that only has one option.

As you improve your methods for credit card payments your business revenue should increase, your brand should improve, and your credibility will improve. Go the extra mile and offer a few ways to pay and you’ll be richly rewarded in the long run.

Start small and work your way up. This may take a few months to a year depending on what your product or services are. But every time you make a sale you’ll be on your way to improving your business. It only takes one method to get started and you’ll be on your way to increasing your revenue and your customer base. Repeat customers are a great asset to any business so focus on how you can please the masses for best results.