Best Answer

First off, you should set up a merchant account. This can be done with your local bank and will establish you, the business owner, as a verified merchant who can accept credit cards. With a merchant account, you'll also have to pay a transaction fee for every card you accept.

User Avatar

Wiki User

βˆ™ 2013-05-10 10:00:47
This answer is:
User Avatar
Study guides

The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

See all cards
59 Reviews

Add your answer:

Earn +20 pts
Q: How does a business begin the process to accept credit cards?
Write your answer...
Still have questions?
magnify glass
Continue Learning about Other
Related questions

How can a small business begin to accept a credit card for payment?

A small business can begin to start accepting credit cards for payment by setting up a merchant account with their bank or financial institution. The business will next need to obtain processing equipment through their financial institution.

What must a business do in order to begin reporting customer credit information to the bureaus?

A business needs to apply for membership with the credit bureau (or bureaus) with whom the business wishes to provide customer credit information. Each of the three (3) major credit bureaus provides a mechanism for a business to join and begin leveraging credit reporting services. The web pages to do so for each of the reporting agencies are included as related links for this question.

How do you get financing for a ranch?

If you are like most small business owners, you want to build business credit for your company and get small business loans when you need them. To build business credit means less risk for you as the owner of the business. There is effort involved when you decide to build business credit. Start taking the steps to build business credit from the get-go. This way, you won't find yourself without a strong business credit profile even if your business is thriving. There is a lot of hype regarding the need to build business credit that says personal credit does not matter. It's true that when you build business credit, you separate your business credit from your personal credit, but it does help to have strong personal credit as well. The more solid you are on your feet with personal credit, the more effective you will be when you build business credit. Credit protection laws vary between personal and business credit, so it's important to understand the differences when you begin to build business credit. A good rule of thumb to follow is simply this - repair your personal credit along with the efforts you are making to build business credit. As you begin to build business credit, set up your business structure properly with the state and get all the necessary licensing. When you build business credit you will need a business phone listed in the telephone directory under the business name. Buying products or services from companies that report your payment history to Dunn & Bradstreet and Experian will help you build business credit. Don't be discouraged by the best business credit score being reserved for the "big guys" when you build business credit. Maintain your focus and you will build business credit that has enough impact to catch the interest of private commercial lenders. Beware of loan fraud when you build business credit - a legitimate underwriter will not charge you a fee upfront to connect you with a business loan lender. There may be fees for other services involved when you build business credit, but not for that. Good business credit cannot be "bought."

How do I get my business to have credit?

You need to spend to establish credit. The general steps are to establish your entity, open a bank account, secure a credit card, and begin establishing credit through purchasing.

When does the statute of limitations begin for credit card debt in the state of Texas?

There is no satutory limit on credit card debt that I am aware of - it is a civil business contract between you and the credit issuer, not a criminal matter.

What questions to ask when checking a business credit references?

Checking a business's credit references can be a crucial step before going into business together or extending credit. Some important questions and information to ask for are: - What is your business's average monthly balance? - How long have your accounts been active? - How many lines of credit are currently open? - The business's credit history - The business's purchase history - Whether the business has any past due balances

Boost Your Sales with POS Software?

Being a business owner in this tough economy, it's important to be able to accept whatever form of payment your customer has handy. If your customer only carries a debit card and you don't have either an ATM in-store or a way to accept credit cards, you're going to lose that sale. By installing a POS software to your computer, you can easily begin taking credit cards and increase your revenue.

You Have To Buy To Begin?

If you are one of the Americans out there who have no credit whatsoever, know that there are things that you can still purchase. Car dealers who accept payments at their dealership will approve you for a vehicle as long as you have a down payment and you can provide proof of income. This will also give your credit a boost if you make the payments on time. Furniture stores that accept monthly payments will accept customers who have no credit. Find a store that is willing to work with you on a down payment as well as payment options in order to start a credit rating.

Where can one get a triple free credit report?

You can get a free triple credit report online at the Free Triple Credit Score website. Once on the page, click on the big "Start Now" button to begin the process.

Who can apply for a Charles Schwab credit card?

Anyone can apply for a Charles Schwab credit card. All they have to do is click on the 'Start Application' link on their official website in order to begin the process.

How can you begin a whole new credit file can you open say an LLC business that does not attach your personal ss number so that you can obtain credit through the business only?

The best form of structure would be to form a corporation as opposed to an LLC. After which it is very possible to separate your business credit from your personal. There are hundreds of absoulutely free videos on this subject at

How late do you have to be on credit card payments for them to take action?

with some creditors when you're late once they begin the process by calling you and making you aware of the fact that you're late with the payment. if you don't respond in a timely fashion they will begin the collection process.

People also asked