{"id":83975,"date":"2023-03-31T09:17:06","date_gmt":"2023-03-31T09:17:06","guid":{"rendered":"https:\/\/arielle.com.au\/?p=83975"},"modified":"2025-07-03T00:49:10","modified_gmt":"2025-07-03T00:49:10","slug":"how-to-accept-credit-card-payments-small-business","status":"publish","type":"post","link":"https:\/\/arielle.com.au\/how-to-accept-credit-card-payments-small-business\/","title":{"rendered":"How To Accept Credit Card Payments In Your Small Business"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 7<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<p>Are you dreaming of running your own business? Whether online or in-store, you need to know how to accept credit card payments to maximise sales.<\/p>\n\n\n\n<p>Running your own small business offers a <u>range of benefits<\/u>:&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>You choose your hours<\/strong> and where to work from.\u00a0<\/li><li><strong>You hire a team<\/strong> that suits your business values.\u00a0<\/li><li><strong>Growth and expansion<\/strong> align with your vision.<\/li><li><strong>It is a fulfilling <\/strong>creative pursuit.\u00a0<\/li><li><strong>It\u2019s a great way<\/strong> to make new connections and foster a community.<\/li><\/ul><\/div><\/div>\n\n\n\n<p>Accepting credit card payments can be challenging (especially in the start-up phase). We\u2019re here to step you through it.<\/p>\n\n\n\n<p>By the end of this article, you will feel clear on how to:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Decide <\/strong>which payment options suit your business best.\u00a0<\/li><li><strong>Set up<\/strong> your chosen payment option.\u00a0<\/li><li><strong>Transition<\/strong> your business to a cashless model.<\/li><li><strong>Prevent fraud<\/strong> or risk with online payments.<\/li><\/ul><\/div><\/div>\n\n\n\n<p><strong>(Related: <a href=\"https:\/\/arielle.com.au\/best-website-hosting-providers-in-australia\/\">Best Web Hosting Providers In Australia<\/a>).<\/strong><\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Is It Essential To Accept Credit Card Payments?<\/strong><\/h2>\n\n\n\n<p>As a small business in today\u2019s society, it\u2019s almost essential to accept credit card payments.<\/p>\n\n\n\n<p>No, it\u2019s not legally required, but you put your business at a significant disadvantage if you do not offer multiple payment options. These options include:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Credit card payment directly<\/strong> on your website.\u00a0<\/li><li><strong>Third-party payment <\/strong>options like Stripe or Square. <\/li><li><u><strong>PayPal Checkout<\/strong><\/u> for online payments or <u>PayPal Here<\/u> for in-store.<\/li><li><strong>Zippay, Afterpay, or Klarna<\/strong>. <\/li><li><strong>BPAY<\/strong>.<\/li><li><strong>Direct<\/strong> bank transfer.<\/li><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\">Expert Tip.<\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Most people do not carry cash, with many experts predicting we will be a <u>cashless nation by 2025<\/u>. Even businesses like <u>The Big Issue<\/u> (which sells magazines on busy city streets) offer card payments to improve their accessibility.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Are The Benefits Of Accepting Credit Card Payments?<\/strong><\/h2>\n\n\n\n<p>Credit cards are a convenient and quick way to manage your finances online. They\u2019re also the <a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/www.shopify.com\/au\/blog\/payment-options#:~:text=Credit%20and%20debit%20card%20payments,their%20card%20balance%20every%20month.\"><u>most used payment method <\/u><\/a>worldwide, according to Shopify.&nbsp;<\/p>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Streamline Your Sales.<\/strong><\/h3>\n\n\n\n<p>Not only is it quicker for customers to pay with credit cards (important in busy shop environments). It\u2019s much easier for you to manage your physical store through an online payment system.<\/p>\n\n\n\n<p>Not convinced? Consider that without cash:&nbsp;&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Customers<\/strong> won\u2019t be fumbling for change.\u00a0<\/li><li><strong>You won\u2019t need<\/strong> to balance a till.\u00a0<\/li><li><strong>You eliminate<\/strong> the need for daily bank trips for small change.\u00a0<\/li><li><strong>Employees<\/strong> can use the extra time to assist customers.\u00a0<\/li><li><strong>You maximise<\/strong> your sales with a diverse buyer demographic.\u00a0<\/li><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\">Important!<\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Whilst some customers may find the transition difficult, you can ensure adequate signage informs your customers that your business will be going cashless from a specific date! Consider text or email reminders, too, or <a href=\"https:\/\/www.mybusiness.com.au\/how-we-help\/be-more-efficient\/maximise-cash-flow\/cashless-payments-is-your-business-ready\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><u>read here<\/u><\/a> for more tips.\u00a0<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Eliminate Transaction Errors.<\/strong><\/h3>\n\n\n\n<p>One difficulty with cash payments is that discrepancies can quickly occur. The good news is this is almost impossible with credit card payments.<\/p>\n\n\n\n<p>Credit cards will only process payments with adequate funds. Avoid awkward confrontations where customers hand you less cash than you owe. For tips on spotting a fraudulent credit card, read <a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/www.weststarbank.com\/tools-and-resources\/9-must-know-ways-to-spot-a-fake-credit-or-debit-card\"><u>here<\/u><\/a>.<\/p>\n\n\n\n<p><strong>(Related: <a href=\"https:\/\/arielle.com.au\/best-password-managers-australia\/\">9 Best Password Managers In Australia<\/a>).<\/strong><\/p>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Improve Your Small Business Image.&nbsp;<\/strong><\/h3>\n\n\n\n<p>A business that supports multiple payment types <a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/gocardless.com\/guides\/posts\/benefits-of-multiple-payment-options-for-businesses\/\"><u>attracts a broader range of customers<\/u><\/a>. You are essentially saying, \u2018We&#8217;re grateful for your business and will help you pay in a way that works best for you.\u2019<\/p>\n\n\n\n<p>You should keep in mind the following:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Operating <\/strong>on a cash-only model reduces your customer demographic.\u00a0<\/li><li><strong>You can develop<\/strong> a reputation for being a business that is difficult to purchase from when you do not offer multiple payment types.<\/li><\/ul><\/div><\/div>\n\n\n\n<p>Consider asking your customers (in the transition phase) which payment types they would best prefer. For inspiration from other businesses transitioning to cashless models, read <a href=\"https:\/\/www.smartcompany.com.au\/point-of-sale\/the-businesses-reinventing-themselves-for-a-cashless-society\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><u>here<\/u><\/a>.<\/p>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Global Trends Emphasise The Importance Of Going Digital.<\/strong><\/h3>\n\n\n\n<p>The financial market has been rapidly changing over the past five years thanks to the <u>introduction of Cryptocurrency<\/u> and other online financial trading options.\u00a0<\/p>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\">Did You Know?<\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">The global credit card payment market reached US$477 billion in 2021. The market is projected to reach a value of US$762 billion by 2027, according to a <a href=\"https:\/\/www.researchandmarkets.com\/reports\/5577845\/credit-card-payment-market-global-industry#:~:text=The%20global%20credit%20card%20payment,7.80%25%20during%202022%2D2027.\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><u>global report by the IMARC Group.<\/u><\/a><\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<p>The above report highlighted the most popular worldwide providers:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Visa<\/strong>.\u00a0<\/li><li><strong>Mastercard<\/strong>.\u00a0<\/li><li><strong>Others (American Express, Independents, etc.).<\/strong>\u00a0<\/li><\/ul><\/div><\/div>\n\n\n\n<p>In terms of what people are using their credit cards to spend on, trends show:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Food and Groceries<\/strong>.<\/li><li><strong>Health and Pharmacy<\/strong>.<\/li><li><strong>Restaurants and Bars<\/strong>.<\/li><li><strong>Consumer Electronics<\/strong>.<\/li><li><strong>Media and Entertainment.<\/strong><\/li><li><strong>Travel and Tourism.<\/strong><\/li><\/ul><\/div><\/div>\n\n\n\n<p>If you are a small business in any of the above categories, consider updating your payment options sooner rather than later to maximise sales!<\/p>\n\n\n\n<p><strong>(Related: <a href=\"https:\/\/arielle.com.au\/guide-to-capital-expenditure-capex\/\">Ultimate Guide To Capex<\/a>).<\/strong><\/p>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Is Your Business Eligible To Accept Credit Card Payments?<\/strong><\/h2>\n\n\n\n<p>Before you go through the process of setting up credit card options, let\u2019s first check your business\u2019 eligibility.&nbsp;<\/p>\n\n\n\n<p>Eligible businesses encompass almost every industry and include:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Brick-and-mortar<\/strong> establishments.<\/li><li><strong>Online<\/strong> businesses.<\/li><li><strong>Small <\/strong>companies.<\/li><li><strong>Sole<\/strong> proprietor businesses.<\/li><li><strong>Independent<\/strong> contractors (<a href=\"https:\/\/arielle.com.au\/paying-overseas-contractors-from-australia\/\">how to pay international contractors<\/a>).<\/li><li><strong>Mobile businesses<\/strong>.<\/li><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\">Important!<\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">If you\u2019re unsure whether or not credit card payments will change your business\u2019s financial structure, it\u2019s best to speak to an accountant or financial planner about your specific circumstances. Don&#8217;t forget to <a href=\"https:\/\/arielle.com.au\/best-accounting-software-for-small-business\/\">choose the best accounting software<\/a>, either.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Steps Do You Need To Follow To Accept Credit Card Payments?<\/strong><\/h2>\n\n\n\n<p>Below are our recommended steps for installing a credit card payment system for your small business. Of course, you can adapt this to your unique business.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>1.  Determine How You Will Accept Credit Card Payments.&nbsp;<\/strong><\/h3>\n\n\n\n<p>Before you instal a credit card payment system, you must determine what types of credit card payments you will accept and how this best supports <a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/business.vic.gov.au\/business-information\/marketing-and-sales\/increasing-sales-through-marketing\/define-and-know-your-customer\"><u>your type of customer.<\/u><\/a><\/p>\n\n\n\n<p>Need help determining who your buyer is? Be sure to analyse:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Recent<\/strong> customer data.<\/li><li><strong>Their purchase <\/strong>history.<\/li><li><strong>Most popular<\/strong> products sold.\u00a0<\/li><li><strong>The average<\/strong> price of sale.<\/li><li><strong>What times <\/strong>do people purchase, and why.\u00a0<\/li><\/ul><\/div><\/div>\n\n\n\n<p>By measuring the above, you will be able to determine your customer\u2019s buying habits which will then inform your choice of payment options.&nbsp;<\/p>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>2.  Select A Credit Card Payment Processing System<\/strong>.<\/h3>\n\n\n\n<p>Your next step is to select a credit card <u>payment processing system<\/u>.&nbsp;<\/p>\n\n\n\n<p>The system and provider you choose will impact several aspects of your business and should offer the capability to be set up both online and in-store.&nbsp;<\/p>\n\n\n\n<p>When choosing payment options, be sure to check the following:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>What types of cards<\/strong> do you accept (some systems do not accept all credit cards).<\/li><li><strong>Your repayment fees<\/strong> for the type of transactions you process.<\/li><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\">Expert Tip.<\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Finding a provider that seamlessly integrates payments on your website is best. This prevents payment processors from taking customers off-site to another window for payments. We love <u>Stripe<\/u>, <u>Square<\/u>, and <u>Paypal.<\/u><\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>3.  Choose Which Type Of Payment Processing Systems Work Best For Your Business.&nbsp;<\/strong><\/h3>\n\n\n\n<p>There are two types of payment processing systems you can purchase.&nbsp;<\/p>\n\n\n\n<p>These are:&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>1.  <u>Merchant Account:<\/u> How Does This Work?&nbsp;<\/strong><\/h4>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>You will need to open<\/strong> a merchant account with your bank to accept payments via credit cards.<\/li><li><strong>You will need to validate<\/strong> your business details with the bank of your choice.\u00a0<\/li><li><strong>The merchant account looks like<\/strong> another account in your banking account and is easily accessible through online banking.<\/li><\/ul><\/div><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>2.  <u>Payment Service Provider:<\/u> How Does This Work?&nbsp;<\/strong><\/h4>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Payment service providers <\/strong>are companies that allow you to accept credit cards without the creation of a merchant bank account.\u00a0<\/li><li><strong>They are ideal for small businesses<\/strong> because they have low credit card processing fees.<\/li><li><strong>You should be mindful <\/strong>that these limit how much money you can accept at once (for example, PayPal has a maximum transfer of $10,000).<\/li><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\">Expert Tip.<\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">If your business is multiplying, you can always switch from a merchant account to a payment service provider. Be sure to check with your bank on the best way to do this.\u00a0<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>4. Set Up Your Businesses\u2019 Credit Card Payment Hardware And Software.<\/strong><\/h3>\n\n\n\n<p>Once you determine the type of payment processing system you want to use, you are ready to set it up!&nbsp;<\/p>\n\n\n\n<p>Our recommended steps are:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Purchase<\/strong> the hardware and software.<\/li><li><strong>Check how long you have the right<\/strong> to use this (for some options, you must renew yearly).<\/li><li><strong>Instal your chosen option.<\/strong> At your physical store, you will need to purchase a card reader that is EMV chip-enabled. Online, you will need to integrate the system into your chosen web hosting platform.<\/li><li><strong>Refer to the instructions provided <\/strong>by your specific payment option.<\/li><li><strong>Test that the equipment <\/strong>is installed correctly with a small payment.\u00a0<\/li><\/ul><\/div><\/div>\n\n\n\n<p>There are several card readers on the market. We recommend one that accepts tap payments due to the volume of people that opt to pay with the banking features on phones.<\/p>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>5. Consider A Mobile Card Reader To Accept Credit Cards On Your Phone.<\/strong><\/h3>\n\n\n\n<p>Another great option, particularly in the interim of your transition to a cashless business, is a mobile card reader. These will allow you to turn your mobile phone into a credit card machine.<\/p>\n\n\n\n<p>We recommend:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Choosing <\/strong>a device that plugs into your mobile phone, provided by Paypal or Square.<\/li><li><strong>Opting<\/strong> for a contactless chip reader to accept tap-and-go payments or a swipe\/insert option for a physical card.<\/li><\/ul><\/div><\/div>\n\n\n\n<p>The disadvantage of mobile card readers is that you will need to be present to facilitate the payment. However, these options will work great for market stalls, freelance trade and beauty services, or small shop fronts.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How Does Accepting Credit Card Payments Online Differ From Those Accepted At Physical Stores?<\/strong><\/h2>\n\n\n\n<p>Fortunately, it is much easier to set yourself up with an online payment system than to establish a payment system at a brick-and-mortar establishment.<\/p>\n\n\n\n<p>To accept credit card payments online, you will need either a payment gateway or a digital storefront:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong><u>A payment gateway:<\/u><\/strong> This should be provided with the merchant account you set up with your bank or your payment service provider plan.<\/li><li><strong><u>A digital storefront:<\/u><\/strong> The easiest way to set up one is to create one within your eCommerce platform provider, Shopify, WordPress, or Squarespace.<\/li><\/ul><\/div><\/div>\n\n\n\n<p>Whilst brick-and-mortar establishments can be very successful, there are downsides to accepting credit card payments.<\/p>\n\n\n\n<p>These include:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Monthly service fees <\/strong>to the processing company.<\/li><li><strong>Transaction fees <\/strong>on every payment you accept from customers. For Mastercard, these range from 1.55% to 2.6%, and for Visa, 1.43% to 2.4%.<\/li><li><strong>Fraud<\/strong>, which can occur in over-the-phone payments (we do not recommend utilising this as a payment option).<\/li><\/ul><\/div><\/div>\n\n\n\n<p><strong>(Related: <a href=\"https:\/\/arielle.com.au\/how-to-make-an-invoice-australia\/\">How To Issue A Professional Invoice<\/a>).<\/strong><\/p>\n\n\n\n<div style=\"height:55px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Are There Risks To Accepting Credit Card Payments?<\/strong><\/h2>\n\n\n\n<p>Like any online activity, <u>there are risks associated with credit card providers<\/u> and services you choose to engage with.<\/p>\n\n\n\n<p>However, in the scheme of challenges associated with your business, these are minimal and can be mitigated with regular reporting and safety checks.<\/p>\n\n\n\n<p>The issues we see often are:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Processing fees and chargeback<\/strong>s make it more challenging for small businesses to maintain profit.<\/li><li><strong>Fraud or cyber hacking<\/strong> can be challenging to predict. Ensure you engage with an IT expert to protect all devices associated with your business.<\/li><\/ul><\/div><\/div>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Accepting Credit And Debit Cards.<\/strong><\/h2>\n\n\n\n<p>For your business to grow and thrive, it is essential to know how to accept credit card payments. Beyond that, you should consider offering multiple options and taking business in a way that best supports your customers.&nbsp;<\/p>\n\n\n\n<p>With guides like this and some research into your business&#8217;s spending habits, it can be very achievable to set up your chosen credit card payment systems.<\/p>\n\n\n\n<p>We recommend you shop for different options to find your best match. If in doubt, don\u2019t be afraid to onboard a technical or IT solutions expert to assist you! We\u2019re sure your sales will thank you in the long run.<\/p>\n\n\n\n<div style=\"height:29px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Steven<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 7<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>Are you dreaming of running your own business? Whether online or in-store, you need to know how to accept credit<\/p>\n","protected":false},"author":3,"featured_media":84647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[277,257],"tags":[],"class_list":["post-83975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-founder","category-business"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How To Accept Credit Card Payments In Your Small Business<\/title>\n<meta name=\"description\" content=\"Need to accept credit card payments in your small business? 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Whether online or in-store, you need to know how to accept credit","_links":{"self":[{"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/posts\/83975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/comments?post=83975"}],"version-history":[{"count":22,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/posts\/83975\/revisions"}],"predecessor-version":[{"id":118649,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/posts\/83975\/revisions\/118649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/media\/84647"}],"wp:attachment":[{"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/media?parent=83975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/categories?post=83975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/tags?post=83975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}