Credit card processing is necessary for any business that sells products or services. A credit card processor will be responsible for handling the intricate details of finalizing and accepting credit and debit card payments. With credit card processing, your customers can quickly and easily purchase your goods or services.
Credit Card Processing - How does it work?
The first thing you need to begin credit card processing is a credit or debit card. In a physical store, customers can submit their credit card information in a matter of seconds through a credit card machine. This is done through various payment options, such as:
- Swiping a card
- Inserting a chip card
- Tapping a contactless card
- Connecting a payment solution app from a smartphone
If you have an online store, your customers will checkout through a secure payment gateway by providing their credit card information while filling out a simple form. This method is commonly referred to as online credit card processing, and follows the same structure as an in-store credit card processor.
After your customers provide their credit card information - either through online credit card processing or your store’s credit card terminal - your credit card processor will connect with their bank through their card network (i.e. Visa, MasterCard, American Express) and let the bank approve or deny the transaction. Once everything is approved, your payment processor will connect the payment information back to your business’s credit card machine (or other payment gateway) and the transaction will be complete.
How long does it take for a payment to appear on a bank statement?
Typically, any transaction that has been approved is added to a batch through your business’s credit card terminal (or other payment gateway) which contains all purchases that occur throughout the day. In most cases at the end of the next business day, your merchant bank account will receive sum deposits of your customers’ payments, and your customers’ bank accounts will post charges for these purchases. Keep in mind that every bank is different, and it can take a few days for these charges to post to your customers’ accounts.
Credit Card Processing in Defuniak Springs Florida
If your business is based in Defuniak Springs, it can be beneficial to hire a local credit card processing company for all of your transactions. When searching for Defuniak Springs credit card processing, there are many factors to consider, such as:
- How fast is the transaction speed?
- Does the payment processor have a strong uptime record?
- Is there a clear, concise, and fair rate structure?
- Is the customer support easily accessible and helpful?
These are all questions you need to ask yourself when searching for a payment processing company for your business. It’s important to draw up a list of local credit card processing companies and compare their strengths and weaknesses. While there are many payment processing companies near you that have a variety of services and custom plans, it’s important to choose the business that fits best with what your company needs on a day to day basis.
A payment gateway is used in any online business or ecommerce store. This merchant service is a type of credit card processor that can quickly complete online transactions with credit cards or direct payments. It’s important to have a secure payment gateway for your business, so that your customers can trust that their bank information will remain safe and confidential through the transaction process.
What are the most common payment gateways?
With the web being as popular as it is, there are a wide variety of payment gateways who offer different services to better suit the needs of your customers. The most popular payment gateways in the industry today are:
Defuniak Springs Mobile Credit Card Processing
Any business who wants to expand their payment options can do so with mobile credit card processing. This payment option involves completing transactions by using a smartphone or tablet as a mobile credit card processor. This is a convenient way to sell products from virtually any location, and can even be completed offline. For local Defuniak Springs businesses looking for alternatives to credit card machines, this payment option is a great solution.
Another system that involves a more hands-on approach compared to mobile credit card processing is a virtual terminal. This is an online application that allows a business owner to manually enter their customer’s credit or debit card information, along with the sale amount, to be authorized and completed by a payment processor.
While a virtual terminal can be more secure than a mobile credit card processor, there are some drawbacks. You will need a computer and a stable internet connection, along with a payment processor, in order to conduct sales using this system. It may be more economical to install a credit card terminal at your store to avoid the cons of a virtual terminal.
Are there businesses who don’t accept credit cards?
While it is common for local Defuniak Springs businesses to have a credit card machine in their store, there are some retailers who do not accept credit card payments. Laundromats and nail salons are great examples of small-scale merchants that are commonly seen with “cash-only” signs at their checkout counters. In an age where digital payments are the norm, it can be easy to find a merchant in these industries who does accept credit cards; you just have to know where to look.
Defuniak Springs Credit Card Processing for Small Business
If you are a small business looking for Defuniak Springs credit card processing, BigHouse Payment Solutions is here to help. We handle credit card processing for small businesses by using a variety of payment options, including:
- Virtual Terminals
- Defuniak Springs Credit Card Machines
- Mobile Credit Card Processing
- & More!
BigHouse Payment Solutions offers fast transaction speeds with a strong uptime record. We keep our rate structure transparent and easy to understand, and our customer support is readily available for your questions. Trust us as your small business credit card processor in Defuniak Springs. Remember to have a solid POS system ready for your credit card processor. Learn more about these systems in our Point of Sale Guide for Defuniak Springs Businesses. Contact us today to get started: 404-245-5738