Nearly 90 percent of American families give to charity, according to findings by the National Philanthropic Trust, and the average annual household contribution is $2,213. Some of this giving is to local charities. Some is to churches and some is to the arts, disaster relief and health-related charities. Clearly, America is a generous society.
Before cell phones, mobile credit card processing meant lugging a mechanical credit card machine with a supply of carbon credit card forms to your booth at the county fair or antique show. To process charges, you had to place the card in the machine and make a carbon copy of the card, manually write in the amount of the sale and tax, and have the customer sign the slip. After the show, you would bundle all of the sales slips and mail them to the credit card company, which would credit your bank account — sometimes not until 30 days later.
If you run an online business, making money is difficult unless you accept credit card payments. One of the best ways for a small business to do this is to use a payment gateway. If you’re thinking about going this route, here are three tips to get you started.
If you're just setting up a small business, it can be confusing figuring out how to process credit card payments, deposit cash and pay your bills. For most businesses, this means opening two distinct types of accounts — a merchant account for your credit card transactions and a traditional bank account for your cash sales and to pay the bills.
You can't run a retail business today without accepting credit and debit cards as payment. After all, nearly three out of four retail transactions in the United States are completed using such cards. No longer are merchants tied to sales counters and brick-and-mortar stores. The advent of mobile credit card processing has made it possible for retailers to leave the store behind and go to where their customers are.