Credit card processing you can count on

It only takes a few simple steps for small businesses to start accepting credit card payments. You’ll just need the following information:

• Your industry category – make sure that you’re not considered a “high risk merchant”
• Whether you plan to sell via in-person transactions, online or both
• Number of locations
• How you accept transactions: on a terminal or card reader, or through your website or your own software
• Types of payments you’d like to accept: credit cards, ach, google pay™, apple pay®, gift cards, ebt, etc.
• How quickly you would like to receive your funds
• Estimated annual volume – it’s ok if you’re not sure if you’ll be a low-volume or high-volume business, just a ballpark estimation is needed
• Estimation of card present, in-person transactions
• Estimation of card not present transactions made over the phone or through your online store

Accepting credit card payments offers several advantages for small businesses like increased sales revenue, improved customer experience and the ability to accept payments remotely or online. Additionally, accepting credit cards can help businesses build their reputation and credibility by offering a payment method that customers have come to expect.

When choosing a credit card processor, small businesses should consider factors like the processor's reputation and reliability, the range of payment methods supported, the system's ease of use and the level of customer support provided. It's also important to ensure that the processor is compatible with the business' point of sale system, offers transparent pricing and meets all necessary security and compliance requirements.

Small businesses should implement the following measures to protect against credit card fraud:

• Enable EMV chip card technology
• Require strong passwords for POS systems and payment gateways
• Use fraud detection tools
• Ensure all payment processing systems meet the necessary PCI compliance standards
• Train employees to identify and report suspicious activity

The time it takes for a small business to receive funds from credit card transactions can vary depending on the processor and the type of transaction. Generally, businesses can expect to receive funds within 1-3 business days for most credit card transactions. However, some processors may offer faster or even instant deposits, and some additional fees may be associated with expedited payment processing.

Credit card processing is generally priced per transaction and can scale with your business needs as transaction volumes grow. Discussing the pricing structure and processing rates with your payments partner is important to ensure you fully understand the costs. In addition to a setup fee or early termination fee, other common fees you may see on a statement are:

• Merchant service fees: these pay for the ability to access the authorization network
• Interchange fees: charged by the credit card brands and card issuers
• Transaction fees: the amount you pay per transaction
• Discount fees: a charge payment processing companies use for passthrough payment processing services to debit and credit card companies
• PCI compliance fees: payment processors use these charges to cover the costs of security

Beyond credit cards, customers expect small businesses to provide a convenient checkout experience that allows buyers to use their choice of payment method. Heartland helps you accept all the ways your customers want to pay, including credit cards, debit cards, gift cards, mobile wallets, QR codes, ACH, checks and eChecks, online payments and more. With fast, flexible processing that supports the broadest range of payment types, you’ll boost sales and satisfy customers — whether you’re in store, online or on the go.