How to start A credit card processing service business

Credit and debit cards are payment option increasingly popular around the world - a trend, the small home based businesses makes explore credit card processing services. A payment processing service processed basically a credit card transaction. It is the bridge between the retailers and the card company - visa, MasterCard, American Express, discover, etc..

If you are considering starting your own business, you should a credit card processing services from. Although it is a competitive industry, it is still very lucrative. Let's discuss the basics of the creation of such a company.

1. Understanding credit card processing

As a credit card processor, you provide the framework be ready, that allows you to:

a retail swipe card in POS-terminals
Verification of credentials, credit card details using a secure SSL network
Software to process information; accept and reject cards
Confirmation of payment by the payment gateway for merchants and customers
debiting funds from the credit card holder and hold in the merchant account
Release of funds for reseller account

For each transaction, the processor collects a percentage of the amount involved. This is the most important source of income, although it to other charges.

2. Register as a company

Get information from the Chamber of Commerce or of the local Small Business Bureau to register a corporation or LLC. This protects you against personal debt.

3. Locate the reseller option with banks

Banks offer reseller programs with which a company service under its own brand name for a fee to resale of the Bank. You can act as an "authorized agent" for the Bank.

4. Approach several banks

Banks are a mandatory part of processing credit and debit cards. Approach different banks with a strong business plan and a list of potential customers. Let them know that you will not have high risk companies as adult Web sites and other types, you will find a high rate of fraud under.

5. Purchase credit card processing equipment

You need you sell or rent POS-terminals - integrated and not integrated pin pads, receipt printer, etc. to your customers,, and also implement Internet payment gateway for online transactions and software to process cards. Find out which terminal systems work with your bank.

6. Contact rental agencies

Leasing equipment is more profitable than yours are. Get in touch with rental agencies, the leasing conditions for terminals on a cut of the profits be draw. Banks offer these services.

7. Get card holder information security program (CISP) certified

The CISP certification is important because it tells customers that you - firewall, encrypted data transfer, updated anti-spyware software and physical security server - have implemented the necessary information for the maximum security. Also need the certificates to prove your compliance to the standards of the large map arranged business - visa, MasterCard, etc.

8. Keep your eyes open for new business

Approach to new businesses in your area, and offer them a better deal than what they currently have. You have set up the merchant account, they offer free credit card terminals for a period, etc., to make your offer more attractive. Have a catalog available, that they can easily compare prices and services.

9 Correctly save products

You have a proper place to store the equipment that you lease or sell to your customers. Pack and ship the products carefully. Make sure that you always stick, potential customers to show. A drop shipper can services to manage.

10. Provide merchant cash advance to your clients

Build relationships with merchant cash advance provider. If adoption was about a business, the credit cards for about a year has come, offering you a cash advance to get help. If you do agree, sell the leadership to a merchant cash advance provider for extra income.

The future of card processing services is bright in the light of the speed with which all types of business - e - commerce and retail - are opening for credit payment processing. You can provide tough competition from the introduction offers, incentives and lower fees for customers.

Daljeet Sidhu is TradeSeam. Credit card processing Advice and credit card processing blog to read.

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Posted in: Business,Credit,Processing,Service,Startup