Making Your Business Credit Card Accessible

Marci Weis, President of Custom Credit Card Processing, Inc., wants to take the fear and mystery out of what it takes to do business via credit card.

"Sometimes people think that being able to accept credit cards would be a nice thing to do—to add convenience for their customers or clients, to make their business more competitive," says Marci. "But, they don't think of it as a business necessity. Having the capacity to do business via credit card is not only a smart, competitive thing to do. Today, it's essential."

Business via credit card has indeed been expanded by the impact of technology on business. Being able to do business via credit card is particularly important for Washington area businesses that do work for federal government agencies. To streamline its business processes and cut down on paperwork, federal agencies use purchasing cards that function like credit cards. So, many federal agencies now require that their vendors accept credit cards.

Setting up a business to accept credit cards involves a number of important decisions:

• Which credit cards do you want to accept?
  
  
• What about debit cards?
  
  
• What card equipment would best serve the needs of your business?
  
  
• What is the best deal in terms of rates and points?
  
  
• How much will it cost?

To find a processing company, Marci suggests checking with your personal bank or any association affiliation you may have. "In both cases, their reputations are at risk, so they're more likely to have given any company they would endorse the once over, saving you valuable time. Chances are they've had feedback from other companies like yours that have passed on valuable experience. You should be able to conduct a telephone interview with your prospective processor and get all the information and answers you need to make a comfortable decision before taking time to meet in person."

Marci suggests asking these questions:

• What are the account application/setup costs?
  
  
• What are the discount rates for card swipe as well as key entered?
  
  
• What is the transaction/approval cost?
  
  
• Is there a cost to "batch," i.e. deposit my money each day?
  
  
• How quickly will my money be "settled" back to my bank?
  
  
• What are the bank's monthly account maintenance and minimum monthly charges?
  
  
• Does the bank have a program application certified to accept purchasing cards and is there a difference in the rate?
  
  
• Do I need equipment or software for my PC and is there a difference in cost?
  
  
• Should I lease or purchase the equipment?

"When we consult with a client, we interview them about their business. That way, we have a thorough understanding of the product or service they specialize in, enabling us to recommend or customize a program to suit their specific needs."

The credit card industry is very competitive. With more than 300 processing banks registered with Visa and Mastercard cardmember associations and virtually thousands of independent sales organizations nationwide, trying to make sense of it all can be very difficult. Marci's approach is highly service-oriented, including providing lots of education and consultation to help the decision-maker make the best choices possible.

If you are interested in accepting credit cards for your business, contact Custom Credit Card Processing at 703-739-2224 or by email at info@customcreditcardprocessing.com.

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