Small businesses cannot always afford the most modern conveniences. Furthermore, credit card processing can be very complex. You have to apply and be approved for a merchant account. Processing equipment must be purchased or leased. Additional criteria exist if you want to accept all major credit cards. Once you process cards, some companies require that you process a minimum monthly amount or you are assessed a fee. Third parties have facilitated credit card processing.
Epay solutions
Online companies transfer money between individuals that have accounts with them. They are called electronic pay, or epay, companies. One requirement to open an account with epay companies is an email address. The customer opens an account and you email an invoice or money request. The invoice or money request is paid by credit card. Processing is done by the epay company and the funds are deposited into your account. The financial information of the customer is never disclosed. You are charged a fee if your account is categorized as a business account instead of a personal account. All credit cards are accepted by epay companies and no premium is charged to accept payment from a particular credit card.
Search Engine
Certain search engines have commerce solutions. Opening an account through their sales engine allows you to accept credit card payments. Processing of the credit card is done by the search engine. Funds are deposited directly into your bank account. No special information is required to sign up for a sales account and you can sell anything. The customer does not have to sign up for a membership. The credit card information of the customer is never displayed. Payments are tracked. You can offer refunds. All credit cards are accepted with this payment method.
Money Wires/Money Orders
If a consumer is not interested in making a purchase using a credit card, they can be invoiced or billed for the total amount and send you a money wire or money order to pay. You pick up the funds at a local branch with valid identification or receive the money order at your business address. Sending a wire is an additional cost absorbed by the customer. Educate your customer on the cost. If sending a money order, notify your customer that goods will not be shipped until their money order clears.
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