How to Accept Credit and Debit Card Payments

Accept credit and debit card payments with the right payment processor.

Friday, January 8th, 2021

As an e-Commerce establishment, one of your necessary costs will be choosing the best payment processor. After all, if you cannot take credit and debit card payments online, you essentially won’t have a business. 

Finding the right payment processor is no simple task. In fact, it is filled with roadblocks to overcome. Here are just some of the challenges you are up against:

  • Did you know that over ⅓ of customers refuse to shop online due to security concerns?
  • About 50% of small businesses become victims of fraud at some point in their business journey.
  • Every year, businesses lose 5% of revenues due to fraud every year.
  • For every time you need to resolve a fraud, it will cost you $114,000 each and every time.

If security concerns, steep fees, and conversion wasn’t enough to worry about, you also have to consider whether or not your payment processor will allow you to expand on a global scale. Also, will your international customers even trust your choice of the payment solution?

An Overview Of What To Look For In A Payments Processing Provider


  • Determine if there are any fees associated with different cards.


It is customary for certain providers to charge an assortment of fees in order to process certain types of card transactions. It depends on whether they are personal, business, debit, or rewards cards. Get informed about the fees associated with each type of transaction.


  • Find out what are the fees or rates charged when you swipe credit cards, accept them online, or enter them manually.


Processors are keen on offsetting any risk of fraud. Another method they typically use is to charge different rates, depending on how the payment was processed. Usually, there is a lower rate charged when a card is physically swiped, especially since IDs are normally checked. 

However, if a credit card payment is taken over the phone, the incidence of fraud grows higher, along with the processing fee. The highest rates of all are seen in online purchases. Ensure that you know what you will be ultimately paying. 


  • Is there a separate fee for your gateway?


It is also a standard practice that processors will charge a separate fee for their payment gateway, usually per-transaction. Basically, you will pay a “standard transaction fee” plus a gateway fee for every transaction. 


  • What are the contract terms?


Credit card processors typically set a contract term between one to two years. Unfortunately, that also includes both cancellation and termination fees. This can complicate things if you are dissatisfied with the service given by the providers and want to find another one. 


  • What does customer support look like?


During the lifecycle of your business, you are sure to encounter a payment setback. How will your processor help you out of this bind? Will they be there to guide you and support you to get back on your feet? Also, do they offer e-mail, online chat, or live support? Regardless of the affordable rates offered, they will mean nothing if you find yourself in an emergency and can’t get a live person to bail you out. 

Take Your Time

As you have seen, there are a myriad of considerations to pore over before you make your final choice in a payment processor. However, this work is imperative in order to avoid more costly situations and mistakes later down the line.