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Return To Checks Article Archive   Search the Article Archives Getting Started - Accepting Credit Cards By Jack Chevalier Getting set up to accept credit cards in your store is an easy four-step process that should only take a few days. You need to open a few accounts in the name of your business, and then configure your store. 1. Open a Local Checking Account - Open a business checking account at a local bank to receive the money for orders placed in your store. This account should be in the name of your business. You can use an existing business checking account if you already have one; you dont need to open another account. 2. Open a Merchant Account - You must open a merchant account to be able to accept credit cards. A merchant account is not just a bank account (even though a bank may issue it). Rather, it is an account that is designed to 1) process credit card payments and 2) deposit the funds into your local checking account (minus transaction fees). You can apply for a merchant account from one of preferred providers, and you will usually learn if you are approved within a couple of business days. You will have to provide information about your business, as well as the account number and bank routing number of your local checking account. 3. Open a Payment Gateway Account - Payment gateways are the connections between the Internet and the secure banking and credit card networks. Your store must have an account with a payment gateway so that transactions in your store can be processed. You can get a payment gateway account from one of preferred providers. Most of these providers let you apply for a merchant account and a payment gateway account with one simple application, and youll usually learn if youre approved within a couple of business days. 4. Configure your Store - Once your merchant account and payment gateway account are approved, you must configure your store to work with them. In the Commerce Setup > Payment screen of , select the payment gateway that you are using, then click the Configure button and enter your gateway account information. About the Author: None keywords: Checks | Check | Banking Business Card Debit Visa

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