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Tips to Start Accepting Card Payments

# Before you go any further, just imagine what a credit card payment processor might offer you and why you actually would need to accept those credit card transactions. First of all, most of the customers buying products online prefer to make their payments using a credit card. Besides, if you want to reach international customers you have no choice other than accepting credit card payments for them. If you do not have this option available for your customers, you will run the risk of losing about 50% of your potential buyers.

# Once you have decided you need to accept credit card payments, then you need to find out how. There are basically two ways to accept credit card payments online. You can either have your own merchant account set up, whereby you will get all the payments received from the customers directly to your own merchant account. You can also receive the payment using a third party merchant. These companies are called payment gateways who will offer you series of fees and percentages if you want to get payments through them.

# You might be thinking which method to choose from: the merchant account owned by or a third party merchant. Well, that basically depends on the number of transactions you might have to accept online. IN most of the cases, the third party merchants do not impose any set up for you, but their fees per transaction are quite high. So a third party merchant is good for you if you are running your business on a test basis or if your sales rate is not very high.

On the other hand your own merchant service account might be a little more expensive to set up than the third party merchants, but the transaction fee would be quite negligible here. So you have a large numbers of credit card transactions to process, you better go for a merchant account.