Thanks to a the increasing advancements in tech, your global customers have multiple ways to complete transactions with your business.
To accept payment by credit card, you will need to set up what is known as a merchant account. To accept credit cards, you need three things: a credit card merchant account, a bank account and a way to process payments. A merchant account allows your customers’ payments via Visa, MasterCard, American Express and other cards to be transferred to the bank account you designate. Monthly statement fees typically range from $4 to $20, and transaction fees typically run 5 to 50 cents per purchase. The discount rate–the percentage that you are charged per transaction-generally varies from 1.5 percent to 3 percent, based on card sales volume, the degree of risk and whether you swipe the customer’s card at your store or accept orders online.
What is
Business Bank Account
Business banking is a company’s financial dealings with an institution that provides business loans, credit, savings accounts, and checking accounts, specifically designed for companies.
Payment Processor
Gateway
Credit Card Reader
Online Payments
Mobile payments